News: Optoelectronics
3 August 2026
BluGlass gives June-quarter update
BluGlass Ltd of Silverwater, Australia — which develops and manufactures gallium nitride (GaN) visible laser diodes based on its proprietary low-temperature, low-hydrogen remote-plasma chemical vapor deposition (RPCVD) technology — has provided an update for its fiscal fourth-quarter 2026 (to end-June).
“BluGlass has had a strong finish to the 2026 fiscal year with multiple paid development contracts with government and tier-1 customers progressing to schedule,” says CEO & managing director Jim Haden. “At the same time, we’re continuing to advance opportunities within our US$100m project pipeline while also engaging with prospective new customers on semi-custom laser solutions to solve specific application challenges. Our phase II agreement with Uviquity reinforces our growing industry reputation, expands our product portfolio, and supports project conversion. Alongside our core target verticals, we’re seeing increased interest from emerging AI and data-center applications where advanced photonic technologies are being deployed to overcome bandwidth, latency and power consumption constraints,” he adds.
“While BluGlass is a relatively new laser company compared to our more established and much larger peers, our single-mode gallium nitride (GaN) lasers continue to set new industry performance standards. Our recent world record for peak power output demonstrates the cutting-edge precision and power our lasers offer, benefitting from our team’s proprietary epitaxy-to-fabrication know-how. Paid development projects are also supporting novel capabilities.”
“Our strong commercial and technical progress over the quarter highlight our GaN laser leadership, and demonstrate that our technology, product roadmap and commercialization strategy are gaining meaningful traction with industry heavyweights,” he claims. “The quality of our customer base is a significant endorsement of our technical capability, and we remain focused on embedding our visible laser technology into next-generation customer applications during development. This approach creates immediate revenues as well as the potential for future manufacturing and supply agreements.”
“BluGlass delivered significant strategic progress over the quarter, strengthening its commercial position, industry reputation and capital markets profile,” says executive chair Omer Granit. “In line with our refreshed commercialization strategy, we are broadening our presence in the USA with increased engagement across customers, government stakeholders, industry leaders and investors,” he adds.
“Our focus remains on building BluGlass into the leading US on- and-near-shore visible laser company. We’re continuing to convert more opportunities from our growing commercial pipeline, while also actively positioning BluGlass to access deeper pools of capital to support our long-term growth ambitions.
“Shareholder support during the quarter has been exceptional, enabling us to add AUS$14.6m to our balance sheet through the successful completion of an institutional capital raise, board and management investment, exercise of options and shortfall agreement. As BluGlass continues to achieve new technical and commercial milestones, the market is increasingly recognising the significant opportunity ahead of us with macro tailwinds underpinning material sector growth.”
AUS$1.4m contract from Uviquity
In July, BluGlass received a AUS$1.4m (US$1m) contract from US photonics company Uviquity for Phase II of its joint development agreement (JDA). Building on the first stage, Phase II broadens the collaboration from R&D on Uviquity’s heterogeneously integrated photonic integrated circuit (PIC) platform to include additional engineering, novel packaging, laser integration and purchases of BluGlass’ visible GaN lasers.
Uviquity develops chip-based deep-ultraviolet lightsources on an aluminium nitride (AIN) PIC platform for human-safe far-UVC disinfection at scale and deep-UV sensing and analytical instrumentation. The firm recently demonstrated the first chip-scale deep-UV laser emitting at 229nm for analytical and inspection applications across the semiconductor, pharmaceutical, environmental and defence markets.
AUS$1.3m agreement with a Fortune 500 company
During the quarter, BluGlass entered a AUS$1.3m collaboration with a global leader in mass-capacity data storage. Under the agreement, BluGlass is leveraging its visible GaN laser and custom semiconductor development capabilities to support the customer's next-generation photonics development activities. The $1.3m agreement will be paid in four instalments tied to activity-based milestones, expected to be completed over the next 12-18 months.
Initial order from strategic AI infrastructure customer
BluGlass has secured an initial order for its GaN surface emitting lasers from a strategic stealth-mode customer developing next-generation optical interconnect technologies intended to support future AI computing and data-center infrastructure.
While revenue from the initial purchase order is not material, the engagement has the potential to expand into a broader development program and ultimately a long-term commercial relationship.
New world-record single-mode performance
BluGlass significantly enhanced the technical perfor mance of its single-mode GaN lasers during the quarter, achieving a record 1.9W of single-spatial-mode power – a 52% improvement over the company’s previous record of 1.25W. BluGlass says that this reinforces the suitability of its visible lasers for high-power, high-precision applications across defence, aerospace, quantum and industrial domains.
The record was achieved using the company’s blue 450nm single-mode GaN laser with its proprietary gain-chip technology, incorporating a single-mode master oscillator with a tapered power amplifier (MOPA) to materially increase power while maintaining high precision. The technical milestone further differentiates BluGlass' laser platform for applications requiring both high optical power and high beam quality.
Raised $14.6m
BluGlass strengthened its balance sheet during the quarter, raising a combined $14.6m from an institutional placement, exercise of options, and a shortfall agreement with Amery Partners Pty Ltd. An upsized $8m placement to institutional investors was supported by a $2.3m cornerstone investment by board and management. The placement was conducted at $0.24 per share and included one free-attaching option exercisable at $0.38 and expiring on 31 May 2028.
Exercised $0.26 options contributed $5.06m and the firm received $1.5m under a shortfall agreement with Amery Partners Pty Ltd. All exercised options and issued shortfall shares included one unquoted free-attaching option on the same terms as the placement. Attaching options associated with shortfall shares are subject to shareholder approval at the company’s 2026 Annual General Meeting.
Strategic Uviquity investment
BluGlass made a US$1.5m strategic investment in US-based integrated photonics company Uviquity via the issue of a convertible note. Uviquity is an existing customer and development partner whose photonics roadmap complements BluGlass' advanced laser capabilities. The investment strengthens BluGlass’s position in emerging photonics, quantum, sensing and advanced packaging markets and provides potential future equity participation in a strategically aligned company operating in a complementary segment of the photonics market. The key terms of the convertible note include an interest rate of 6%, 12-month maturity date and standard conversion mechanisms including the right to convert (or redeem) at maturity and automatic conversion at a discount on a qualified financing.
Strategic US Government and defence engagements
During the quarter, BluGlass showcased its visible GaN laser technology in late April at the SPIE Defense + Security conference in National Harbor, MD, USA for defence photonics and sensing technologies. CEO Jim Haden and executive VP Brad Siskavich met with prospective customers, government stakeholders and industry partners to demonstrate BluGlass’ advanced laser capabilities and support the continued expansion of its development pipeline.
BluGlass also participated in several invitation-only US Government and defence industry engagements, including a US Navy industry gathering in Seattle and a roundtable with the Hon. Michael Dodd, US Assistant Secretary for Critical Technologies. Focused on advanced underwater technologies and future capability requirements, the Navy event generated multiple requests for additional information and follow-on meetings to further explore GaN’s enabling capabilities in Subsea and Seabed Warfare (SSW).
The invitation-only directed-energy roundtable in Washington DC centered on accelerating the development and deployment of directed-energy systems - a key focus area for the Department’s critical technology portfolio. Haden discussed the potential of BluGlass’ advanced visible lasers for future directed-energy systems and related defence applications with Assistant Secretary Dodd and his advisor Colonel Jake Hess.
Semiconductor Australia
BluGlass has divested its majority stake in the nation’s premier semiconductor conference, Semiconductor Australia, to focus on its core GaN laser business. The firm remains a minority shareholder with branding rights and profit share. Semiconductor Australia 2026 is being held in Sydney on 22 October and will feature keynote presentations from the chair of the National Reconstruction Fund, Martijn Wilder AM, and Dr Larry Marshall, lead independent director of Fortescue Innovation.
Jim Haden appointed managing director
In July, BluGlass appointed CEO & executive director Jim Haden to the role of managing director. The new title reflects his management responsibilities and aligns with standard market practice.
Financials
Quarterly customer receipts of $200,000 included the North Carolina State University (NCSU) development contract and product laser orders. R&D expenditure during the quarter was $3.01m, inclusive of salaries, materials and fabrication costs for laser product development. R&D investment remains aligned with the firm’s commercialization roadmap and customer-driven development projects.
Payments to related parties during the quarter were $178,000, encompassing executive chair and non-executive director fees.
Cash and cash equivalents at the end of the quarter were $11.48m. Following the capital raising completed during the quarter, BluGlass says that it is well funded to advance its commercialization strategy, progress customer-funded development programs and pursue opportunities within its growing pipeline while continuing to actively manage costs.
Investor briefing details
Executive chair Omer Granit and CEO Jim Haden will participate in an investor webinar covering the firm’s quarterly update on 4 August at 3:30pm AEST. To attend, pre-register at https://us02web.zoom.us/webinar/register/WN_w4fj0x7bS1aY11d0GV7I_A
BluGlass secures AUS$1.4m Phase II contract under JDA with Uviquity
BluGlass executes $1m option shortfall agreement, plus potential extra $500,000
BluGlass achieves record 1.9W peak output for single-mode GaN laser
BluGlass completes upsized AUS$8m two-tranche placement
BluGlass signs AUS$1.3m agreement with global Fortune 500 data storage leader
