News: Optoelectronics
23 September 2026
BluGlass secures new AUS$8m R&D loan facility, replacing existing AUS$2.27m facility
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 agreed terms with Rockford RDF Pty Ltd as trustee for the Rockford RDF Unit Trust for a new AUS$8m R&D financing facility. The facility will refinance the company’s existing Radium facility and, net of that repayment, provide about AUS$5.5m of additional funding liquidity. The facility will support BluGlass’ working capital requirements and growth initiatives.
The facility carries an interest rate of 16.5% per annum and a 2.5% establishment fee, comprising AUS$100,000 capitalized into the loan balance and AUS$100,000 payable in BluGlass shares. AUS$2.75m is scheduled to be repaid from the fiscal year 2026 R&D Tax Incentive refund, with the balance to be repaid from the fiscal year 2027 R&D Tax Incentive refund and no later than 1 March 2028. The facility is secured by first-ranking security over the fiscal 2026 and fiscal 2027 R&D Tax Incentive refunds, together with a limited featherweight security over the company’s other assets.
“The new debt facility gives BluGlass early access to anticipated R&D Tax Incentive refunds that will be used to advance our operational and commercial objectives,” says CEO & managing director Jim Haden. “Most notably, these include scaling our production capabilities, converting revenue opportunities, and continuing to develop differentiated laser solutions for various high-growth markets such as quantum sensing, advanced manufacturing, and defence.”
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