News: Optoelectronics
3 November 2026
BluGlass highlights September-quarter activities
BluGlass Ltd of Silverwater, Australia, a vertically integrated developer and manufacturer of visible gallium nitride (GaN) lasers, has given the following update on its activities in fiscal first-quarter 2027 (to end-September 2026).
“BluGlass continued converting strategic customer engagement into funded development activity,” says CEO & managing director Jim Haden. “We successfully completed year-three of our work under the US Microelectronics Commons program and continued our multi-phase development with a tier-1 US defence prime and strategic collaboration with a Fortune 500 mass-capacity data-storage leader. Expanded work with Uviquity and a new collaboration with a global photonics leader further demonstrate growing interest in our visible GaN laser and epitaxy capabilities across emerging high-value applications,” he adds. “Together with the expanded R&D financing facility, these engagements position BluGlass to progress customer-funded development toward future product supply and strengthen its presence in strategic US markets.”
Commercial and operational progress
During the quarter, BluGlass advanced its portfolio of customer-funded development programs and visible GaN laser opportunities. Through its project-to-product model, the firm uses paid development engagements to address customer-specific technical requirements, demonstrate device and manufacturing capability, and establish pathways to future product supply.
Activities during the quarter included epitaxial design and growth, device architecture evaluation, process integration, laser fabrication, packaging and technical engagement with strategic customers and partners. BluGlass remained focused on achieving customer milestones, improving manufacturing repeatability and progressing visible laser products for defence, quantum, scientific, medical and advanced photonics applications.
AUS$1.4m Phase II contract from Uviquity
In July, BluGlass received an A$1.4m (US$1m) Phase II contract from US photonics company Uviquity under the companies’ joint development agreement. Phase II broadens the work beyond the first stage of R&D of Uviquity’s integrated photonics platform to additional engineering, packaging, laser integration and purchases of BluGlass visible GaN lasers.
AUS$8m R&D financing facility
In September, BluGlass announced that it had agreed terms for a new AUS$8m R&D financing facility with Rockford RDF Pty Ltd as trustee for the Rockford RDF Unit Trust. It replaces the AUS$2.27m Radium facility and provides about AUS$5.4m of additional funding liquidity after refinancing.
The larger facility provides additional funding flexibility to support working capital, customer-funded development programs and growth initiatives while the company progresses its commercialization strategy.
The facility bears interest at 16.5% per annum and has a 2.5% establishment fee: AUS$100,000 capitalized into the loan balance and AUS$100,000 payable in BluGlass shares.
Subsequent to quarter-end, BluGlass received its AUS$6.1m fiscal-year 2026 R&D Tax Incentive refund in October, with AUS$2.75m applied to the scheduled Rockford loan repayment. The remaining loan balance is to be repaid from the fiscal 2027 refund and no later than 1 March 2028. Security comprises first-ranking security over the fiscal 2026 and 2027 R&D Tax Incentive refunds and limited featherweight security over other company assets.
AUS$286,000 early-stage collaboration with global photonics leader
On 21 September, BluGlass announced an approximately AUS$286,000 (US$200,000) early-stage collaboration with a global photonics leader to co-develop a novel GaN-based device targeting scientific and medical markets. The initial feasibility study is expected to run for 3-5 months and will assess the compatibility of the companies’ proprietary processes.
The program will evaluate device architectures, epitaxial structures, process integration and manufacturing techniques for high-performance visible-wavelength lasers. It combines BluGlass’s GaN epitaxy and semiconductor laser development capabilities with the customer’s photonics engineering, advanced manufacturing and commercialisation expertise.
Leadership and board appointments
As previously announced, the board appointed CEO & executive director Jim Haden as managing director on 13 July, aligning his title with his existing executive responsibilities.
On 21 August, BluGlass appointed Yam Rubenstein as a non-executive director. Rubenstein is the founder & CEO of investment firm 102 Percent Ltd and a co-founder of June 76 Investments, one of BluGlass’s largest shareholders. He has more than 20 years of global capital markets experience, including senior roles at Israeli investment houses and banks. The appointment broadens the board’s capital markets and industry networks.
US investor engagement and strategy
CEO & managing director Jim Haden, executive chair Omer Granit and senior VP Brad Siskavich participated in the iAccess Alpha Virtual Best Ideas Fall Investment Conference on 15–16 September. Haden delivered a company presentation and management held one-on-one meetings with pre-qualified investors.
The presentation outlined the company’s project-to-product model and strategic priorities, including expanding its share of the GaN laser market, growing US government engagement, strengthening technology and industry partnerships, and pursuing disciplined organic and inorganic growth.
Financial update
Quarterly customer receipts were $1.66m. Net cash used in operating activities was $3.12m, reflecting expenditure on R&D, staff and other operating costs.
R&D expenditure excluding staff costs was $1.62m during the quarter, covering materials, fabrication and other costs for laser product development. R&D investment remained aligned with the company’s commercialization roadmap and customer-driven development programs. Payments to related parties were $114,000, comprising executive chair and non-executive director fees.
At quarter-end, BluGlass had cash and cash equivalents of AUS$8.66m. The AUS$8m Rockford facility was fully drawn. The facility provided about AUS$5.4m in cash to BluGlass after refinancing Radium, which is reflected in the quarter-end cash balance. This supports the continued execution of customer-funded development programs and the company’s commercialization activities, while management remains focused on cost and working capital discipline.
BluGlass secures new AUS$8m R&D loan facility, replacing existing AUS$2.27m facility
BluGlass appoints global capital markets veteran to board
BluGlass gives June-quarter update
BluGlass secures AUS$1.4m Phase II contract under JDA with Uviquity
