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MENAFN - ProactiveInvestors - Australia - 29/11/2012

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(MENAFN - ProactiveInvestors - Australia) BluGlass (ASX: BLG) has been granted a trading halt by the ASX this morning and placed in pre-open pending capital raising details.

The company 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.

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 " MOCVD.

The company is focusing on improving p-GaN layers with the goal of improving LED device efficiency over current produced devices.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Monday 3rd December.

 






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