Global semiconductor developer BluGlass Limited (ASX: BLG) confirms it has received confirmation from the Australian Taxation Office that the Company will receive its full $7.3 million rebate for R&D activities carried out across its Australian and US facilities in FY23.

BluGlass CEO Jim Haden said, “Our R&D rebate has increased more than 80 percent over the prior year, reflecting our significant step-up in development activities following our acquisition of a purpose-built production facility in Silicon Valley.

“This R&D work has enabled us to launch our first suite of visible lasers, commence customer engagement and product qualification and secure our commercial role as part of the CLAWS Hub in the US Microelectronics Commons.

“At the same time, we continue to improve the quality, consistency, and performance of our launched products, and expedite the development of next-generation lasers. The R&D rebate is a non-dilutive cash injection that supports our ground-breaking technology development and helps offset our operational costs as we commercialise our gallium nitride laser technology.”

The Company expects to receive the funds within 10 business days.

BluGlass logo
About BluGlass

Developing leading-edge semiconductor manufacturing technology and devices for more than a decade, BluGlass Limited (ASX:BLG) is a provider to the global GaN photonics industries, delivering cutting-edge, custom laser diode and LED development across the industrial, defence, display, and scientific markets.

Listed on the ASX, we are an Australian public company established to power the smarter, cleaner, more efficient photonics of tomorrow with our proprietary low temperature, low hydrogen, remote plasma chemical vapour deposition (RPCVD) manufacturing technology.

Backed by an extensive network of supply-chain partners, BluGlass is developing a suite of laser diode products, from small batch custom lasers through to high-volume and off the shelf products.

For more information, please contact:

Stefanie Winwood +61 2 9334 2300