Highlights
- Recognised as an approved supplier of visible lasers to the Indian Department of Defence; received first order valued at A$230,000
- Showcased improved visible laser performance at leading industry conference ICNS-15, including a 16% increase in multi-mode power conversion efficiencies, and new single-mode aqua-marine (488nm) and light green wavelengths (504nm)
- Secured $7.6 million to fulfil new and existing contracts, optimise operations, and working capital
BluGlass Limited (ASX: BLG), a global semiconductor developer pioneering visible lasers, provides the following update and Appendix 4C Quarterly Report for the three months ended 30 June 2025 (Q4 FY25).
CEO Jim Haden said: “BluGlass continued to strengthen its industry recognition during the quarter, securing its first order from the Indian Government and being authorised as an approved supplier. India is rapidly building its photonics capability with increased investment in cutting-edge research, such as the Solid-State Physics Laboratory. Our partnership with the Indian Government builds on our established development work with the US Department of Defense, and continued conversion of our $US100 million project pipeline. While these opportunities are in various stages of maturity, we are continuing to progress technical evaluations and negotiations in line with our long-term project to product strategy.
“In parallel, we’ve made significant technical progress across our product portfolio. We’ve improved the power conversion efficiency of our multi-mode GaN lasers by 16%, approaching our FY26 target of 43% CW PCE ahead of schedule. Power conversion efficiency is critical for customers, increasing device longevity and reducing operational costs. Encouragingly, this now brings us in line with several of our large competitors, who have taken many years or decades to reach this PCE performance standard. We believe we can further improve this metric over the coming year. Other technical enhancements include extending our wavelength capabilities with demonstrated aqua-marine and light green wavelengths, as well as improved capabilities of our single-frequency Distributed Feedback (DFB) lasers.
“Technical advancements support our conversations with new and prospective defence, quantum, and biotech customers, offering advanced precision and tunability in visible wavelengths. Quantum advancements are being underpinned by stimulated light interaction with unique materials, down to the atomic scale, requiring specific wavelengths, and tunability – to target individual atomic interactions. Our modelling collaboration with UCSB and NCSU is accelerating our development in this domain, enabling us to leverage the world-class skills, capability, and expertise of our Microelectronics Commons partner to improve the quality and repeatability of our DFB lasers.”
$230k order from Indian Govt
In June, BluGlass was recognised as an approved supplier of specialist gallium nitride (GaN) lasers to the Indian Ministry of Defence, receiving its first purchase order from the country’s Solid State Physics Laboratory, worth A$230,000. The order entails benchmarking the fabrication process of GaN-based lasers for India’s Solid State Physics Laboratory – a leading research institution at the forefront of advanced semiconductor materials and device development.
Showcased improved laser results at ICNS-15
BluGlass released improved GaN laser results, including cutting-edge precision capabilities, at global industry conference, the International Congress on Nitride Semiconductors (ICNS-15) in Sweden in July. The invited presentation by Dr. Ryan Anderson showcased performance improvements, including multi-mode QCW power conversion efficiencies of 43% – a 16% year-over-year increase.
The Company also presented leading 685kHz narrow-linewidth GaN DFB laser capabilities, providing enhanced application versatility where power, precision, and tunability are required. BluGlass is collaborating with its Microelectronics Commons CLAWS Hub partner, North Carolina State University (NCSU), on advanced DFB modelling to fast-track design optimisation and performance improvements. The Company is also progressing embedded laser gratings for DFBs with GaN consortium partner, the University of California Santa Barbara (UCSB). Embedded gratings eliminate unwanted wavelengths, thereby improving the side-mode suppression ratio and enabling near-single-frequency light emission for precision applications.
BluGlass has also expanded its demonstrated single-mode wavelengths to include aqua-marine (488nm) and light green (504nm) laser wavelengths, while also continuing to advance development of in-demand true green wavelengths.
Improved Results demonstrated in Microelectronics Commons Program
BluGlass continues to advance its laser capabilities as part of its development activities in the Microelectronics Commons, CLAWS Hub. The Company has demonstrated improved single-mode power conversion efficiency across its core wavelengths (violet to blue), rapidly approaching or exceeding the levels of major competitors who have been in the field for far longer (17–30 years).
| BluGlass Demonstrated CW SM PCE | Company 1 (30 Years) Typical CW SM PCE |
| Blue 450 nm CW PCE > 26.5% | 27%-29% CW |
| Violet 420 nm CW PCE > 31.4% | 23% CW |
| Violet (405 nm CW PCE > 34.6% | 21-25% CW |
Table 1: BluGlass demonstrates world-class single-mode power conversion efficiencies across the violet to blue spectrum
Exhibited at Laser World of Photonics 2025, Munich
BluGlass showcased its visible GaN laser portfolio at the world’s largest photonics event, Laser World of Photonics and World of Quantum 2025, held in Munich in July.
The exhibition provided a strategic platform to engage with existing and prospective customers and partners, further advancing BluGlass’ commercial opportunities and contributing to the ongoing growth of its product revenues and project pipeline.
Raised $7.6 million
BluGlass strengthened its balance sheet during the quarter, securing $7.6 million to accelerate laser production to fulfil new and existing contracts, implement new fab equipment, and support working capital. The raise comprised a $2.3 million Placement to institutional and sophisticated investors at an issue price of $0.013 per share, and a well-supported $5.3 million Share Purchase Plan at $0.00975 per share.
Each new share is inclusive of one free attaching option, exercisable at $0.013 and expiring on 31 May 2026 or 30 days from the announcement of a contract win from a Tier-1 company for a total contract value of $3 million. Every attaching option exercised will include an additional piggyback option, exercisable at $0.019 and expiring 31 May 2028.
Financials
Strong quarterly revenue of $1.8 million comprised the NCSU CLAWS Hub contract, growing laser product sales, and foundry services for a European wafer developer.
BluGlass’ Q4 FY25 research and development expenses were $2.65 million, inclusive of salaries, materials, and fabrication costs. Payments to related parties during the quarter were $109k encompassing Chair and Non-Executive Director fees.
| Activity Undertaken | Amount paid during the quarter
$’000 |
| Laser product development | $2,599 |
| RPCVD development | $54 |
| Total direct expenditure | $2,653 |
Outlook
CEO Jim Haden said: “BluGlass is a leading pure-play supplier of high-energy visible GaN lasers, delivering unmatched fidelity and precision for exacting applications. Our innovative approach to GaN laser technology, including short-pulse operation and advanced photonic integration, enables broad applicability for next-generation solutions such as secure underwater optical communication, to quantum sensing, and precision medical diagnostics. Our go-to-market strategy has resulted in a growing pipeline of more than 29 active, large revenue-generating opportunities. Collectively, the total project value of our pipeline exceeds US$100 million, and includes household names and government partners from the quantum, defence, aerospace, consumer electronics, biomedical, and med-tech sectors. These projects are at all stages of maturity, from inception to negotiation.
“The strength of our pipeline reinforces the growing need for visible lasers, which underpin almost all next-generation technology, from quantum sensing and computing through to autonomous exploration and navigation. This demand will see our total addressable market reach $38 billion by 2033, currently serviced by just a handful of players with high barriers to entry. Ongoing laser performance improvements and our ability to solve our customers’ biggest challenges ensure we are well-positioned to be designed into these next-generation applications, providing long-term product revenues.”
The full report and appendix 4C is available to download here: BLG June 2025 Quarter Report and App 4C
This announcement has been approved for release by the BluGlass Board.
For more information, please contact:
Stefanie Winwood | +61 2 9334 2300 | swinwood@bluglass.com
About BluGlass
BluGlass Limited (ASX:BLG) is a leading supplier of GaN laser diode products to the global photonics industry, focused on the industrial, defense, bio-medical, and scientific markets.
Listed on the ASX, BluGlass is one of just a handful of end-to-end GaN laser manufacturers globally. Its operations in Australia and the US offer cutting-edge, custom laser diode development and manufacturing, from small-batch custom lasers to medium and high-volume off-the-shelf products.
Its proprietary low temperature, low hydrogen, remote plasma chemical vapour deposition (RPCVD) manufacturing technology and novel device architectures are internationally recognised, and provide the potential to create brighter, better performing lasers to power the devices of tomorrow.
