BluGlass (ASX:BLG), a leading supplier of GaN laser diode products, has appointed a new company secretary after it secured $10.67 million in funding to ramp up the commercialisation of its gallium nitride (GaN) laser product suite. The funding was raised via a placement to institutional and sophisticated shareholders and a rights offer to existing shareholders.
The additional capital will enable BluGlass to acquire additional fabrication equipment to scale production, speed up product delivery and expand its product offering. The company has already launched its first suite of GaN laser products to the market earlier this year, and with the new funding, BluGlass is well-positioned to grow its customer base and increase its commercial revenues.
After attracting multiple customers, including industry-leading OEMs, BluGlass continues to grow its customer base with additional customer orders in progress. The company’s success in the GaN laser market maintains BluGlass as the partner of choice in advanced manufacturing, automotive, biomedical, quantum computing and scientific research industries.
The company’s innovative products offer significant advantages over traditional technology, and with a growing customer base and expanded product offering, BluGlass is set for continued success in the GaN laser market.
