20 November 2023
BluGlass to receive full $7.3m R&D rebate from Australian Taxation Office
BluGlass Ltd of Silverwater, Australia — which develops and manufactures gallium nitride (GaN) blue laser diodes based on its proprietary low-temperature, low-hydrogen remote-plasma chemical vapor deposition (RPCVD) technology — has received confirmation from the Australian Taxation Office that it will receive its full $7.3m rebate for R&D activities carried out across its Australian and US facilities in fiscal year 2023. The firm expects to receive the funds within 10 business days.
“Our R&D rebate has increased more than 80% over the prior year, reflecting our significant step-up in development activities following our acquisition of a purpose-built production facility in Silicon Valley,” says CEO Jim Haden.
“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 [‘Commercial Leap Ahead for Wide-bandgap Semiconductors’] in the US Microelectronics Commons,” he adds.
“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,” Haden continues. “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 commercialize our gallium nitride laser technology.”