31 Aug 2010 - SPTS invests $5.2M as cornerstone investor and announces joint venture with BluGlass
Australian green technology innovator BluGlass Limited (ASX : BLG) announced yesterday that it has entered a Joint Venture (JV) agreement with SPTS. The purpose of the JV is to complete the development and commercialisation of BluGlass' proprietary Remote Plasma Chemical Vapour Deposition (RPCVD) technology.
SPTS President and Chief Executive Officer, William Johnson said today BluGlass has developed promising technology that fits well with SPTS' technical road map and product/customer base.
"Through this joint venture, SPTS and BluGlass intend to bring the RPCVD technology to market on field-proven production platforms, offering significant competitive advantages for customers in the rapidly expanding high brightness LED industry" Dr. Johnson said. "We are delighted to partner with BluGlass and look forward to collaborating on the commercialisation of this potentially disruptive technology" he added.
BluGlass Limited is an Australian green technology company developed to commercialise a breakthrough in the Semiconductor Industry. BluGlass has invented a new process using Remote Plasma Chemical Vapour Deposition (RPCVD) to grow semiconductor materials such as gallium nitride (GaN) and indium gallium nitride (InGaN), crucial to the production of high efficiency devices such as next generation lighting technology Light Emitting Diodes (LEDs) with significant low cost potential. BluGlass, through its subsidiary, BluSolar is now exploring the process' viability in photovoltaic (solar) applications. The BluGlass process is a low temperature and low cost technology with the potential for scalability.