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BLG – BluGlass Limited is an Australian green technology company developed to commercialise a breakthrough in the Semiconductor Industry. BluGlass has invented a new process using Remote Plasma Chemical Vapour Deposition (RPCVD) to grow semiconductor materials such as gallium nitride (GaN) and indium gallium nitride (InGaN), crucial to the production of high efficiency devices such as next generation lighting technology Light Emitting Diodes (LEDs) with significant low cost potential. BluGlass, through its subsidiary, BluSolar is now exploring the process’ viability in photovoltaic (solar) applications. The BluGlass process is a low temperature and low cost technology with the potential for scalability.

BluGlass signs joint venture agreement with SPP Process Technology Systems (SPTS), a rapidly growing semiconductor process equipment company wholly owned by Sumitomo Precision Products (SPP) Co., Ltd (TYO : 6355).

BluGlass will receive AUD $ 5.2 million investment from SPTS for a subscription of ordinary shares at $0.11 per share. SPTS to become a cornerstone 19.9% shareholder in BluGlass.

BLG closed Friday at 18.5c