(MENAFN- ProactiveInvestors - Australia) BluGlass (ASX: BLG) has achieved proof of concept of its Light Emitting Diodes (LED) technology, which is now being produced with industry-equivalent electrical properties, significantly de-risking the technology.
The market reacted positively to today's news with shares hitting a fresh intra-day high of A$0.29, a 530% increase over the low of $0.046 the company was trading at in mid-April.
The news sparked high volume trade, with around 2.4 million shares changing hands by 2.48pm (AEDT).
BluGlass is now able to use its low temperature Remote Plasma Chemical Vapour Deposition technology to produce n-type gallium nitride (GaN) films with low impurities and good electrical properties equivalent to films grown using the industry standard process â€" MOCVD.
The company is now focusing on improving p-GaN layers with the goal of improving LED device efficiency over current produced devices.
The electrical performance properties were independently measured and verified by IQE in the UK, a global supplier of advanced semiconductor wafer products, and the Australian National University, a leading university in semiconductor physics.
The achievement of electrical properties on par with MOCVD grown n-GaN films has been enabled through the reduction of critical impurities â€" carbon, oxygen and hydrogen.
While the p-GaN device demonstration is the primary short term commercial focus, BluGlass will also continue research and development into solar and other areas of an LED that can take advantage of the low temperature platform technology.
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