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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2016

2016 BluGlass Annual General Meeting

MONDAY 21 NOVEMBER 2016

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THE YEAR IN REVIEW George Venardos, Non-Executive Chairman

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BOARD

George Venardos Chairman

Bill Johnson Non Executive Director

Giles Bourne Managing Director

Chandra Kantamneni Non Executive Director

Greg Cornelsen Non Executive Director

Vivek Rao Non Executive Director

2006

ASX:BLG

371.8M

Established

shares issued

AWARDS &

GRANTS

2013 Australian Cleantech Competition Winner &

2013 Australian Cleantech Competition

Manufacturing Award

GLOBAL TOP 30 Finalist in GCCA Cleantech Later Stage Award

$5M Commercial Ready Grant

$5M Climate Ready Grant

$3M Cleantech Innovation Grant

CORPORATE OVERVIEW

CORPORATE SHAREPRICE as at 18 Nov. 2016

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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2016 — 4 —

“2016 HAS BEEN A

TRANSFORMATIVE YEAR

IN THE DEVELOPMENT &

COMMERCIALISATION OF THE

RPCVD TECHNOLOGY”

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BluGlass has made significant technical progress in bringing RPCVD towards commercialisation

Tier 1 LED company

approached BluGlass

to explore RPCVD for

novel implementation

of LEDs

NOV 2015

SPT Micro-

technologies VP Vivek

Rao joins BluGlass

Board

MAR 2016

Successful capital

raising:

$3M Placement

APR 2016

Upgraded RPCVD

system (BLG-180)

comes online

SEP 2016

Successful capital

raising:

$5M Placement

OCT 2016

Veeco evaluation

moves to next iteration

following promising initial results

NOV 2015 MAR 2016 Enters into

Collaboration

Agreement with HC

Semitek for multiple

LED applications

APR 2014

Lumileds & BluGlass

Enter Phase II

of Exclusive

Collaboration

OCT 2016

BluGlass receives

$600K Foundry Order

from New Custiomer

NOV 2016

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2016 HIGHLIGHTS

Enters into Exclusive

Collaboration with LED

market leader

Lumileds

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The foundry business continues to expose

BluGlass to new and emerging applications.

We seek to workwith the innovators that

will be leading the nitrides industry into

the future and those that could benefit from a

low temperature RPCVD technology

— 6 —

Multiple foundry customers

Growing pipeline of new customers

Providing both MOCVD & RPCVD services

Conducting services for green and blue

LEDs, power electronics, and laser diodes

FOUNDRY UPDATE F

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Hardware & Process Patents

6 PATENT FAMILIES

GRANTED

PATENTS

in key markets;

China, Japan, USA

& Europe

PATENT APPLICATIONS

42 23

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$5M RAISED IN

OCTOBER

PLACEMENT

$1.9M CASH POSITION

AT END OF SEP

$435K BURN RATE/MONTH

DOWN FROM $450K MONTH IN 2016

$2.1M ANTICIPATED R&D

TAX REBATE TO BE RECEIVED IN 2016

$2M TAREGETED VIA 2016

SPP CURRENTLY UNDER OFFER

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$10.5M OVER 2YRS

This would provide BluGlass with a robust cash

position to expedite commercialisation activity

Giving BluGlass a run-way of greater 2 years

CURRENT POSITION FORECAST POSITION

FINANCIAL PERFORMANCE F

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THE YEAR AHEAD Giles Bourne, Managing Director

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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2016 — 10 —

“THE BLUGLASS

TECHNOLOGY IS TRULY

UNIQUE.

IT IS HIGHLY RELEVANT FOR

DEVICE PERFORMANCE

IMPROVEMENT” — INDUSTRY SOURCE

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MAR 16 BLUGLASS & LUMILEDS

ENTER EXCLUSIVE

COLABORATION FOR RPCVD LEDS

NOV 15 INITIAL EVALUATION

OF RPCVD

BY LUMILEDS

OCT 16 BLUGLASS & LUMILEDS

ENTER PHASE II OF COLLABORATION

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OCT 16 BLUGLASS COMPLETES

DELIVERY OF PHASE 1 MILESTONES

FUTURE COMPLETE PHASE II OF

COLLABORATION &

COMMENCE COMMERCIAL

NEGOTIATIONS

LUMILEDS COLLABORATION CONTINUES TO MAKE

PROGRESS World leading LED company evaluating RPCVD

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RPCVD Evaluation STATUS

Collaboration is focused

on a novel application

of RPCVD for LEDs

BluGlass has successfully

delivered the technical

milestones of Phase I of the

Lumileds Exclusive Evaluation

Phase II will further

Investigate the integration

of BluGlass’ RPCVD technology

into certain LED applications

Lumileds and BluGlass

have agreed to commence

Phase II of the Evaluation

Exclusive collaboration agreement with market leader—device manufacturer

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LUMILEDS COLLABORATION ENTERS PHASE II F

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Collaborative evaluation with

leading Chinese LED manufacturer

Targeting enhanced performance

and lower cost LEDs using RPCVD

HC Semitek will evaluate two

applications of RPCVD:

- Low temperature p-GaN for Green LEDs &

- Aluminium Nitride on sapphire substrates

for high brightness LEDs

Collaboration Agreement with Leading Chinese LED Device Manufacturer

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LEADING CHINESE

LED COMPANY EXPLORING

RPCVD FOR MULTIPLE

APPLICATIONS

HC SEMITEK COLLABORATION F

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NASDAQ: VECO

$806M Market cap

Worlds largest MOCVD

equipment

manufacturer

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RPCVD Evaluation STATUS

Positive initial 2 inch trials

for green LEDs

Now progressing to 4 inch

trials and greater collaboration

Initial materials evaluation of

p-GaN for power electronics has

also shown that p-GaN has the

potential for significant

performance advantage

LED

Power Electronics

VEECO EVALUATION ENTERED NEXT ITERATION F

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PARTNER APPLICATION /

TECHNOLOGY

DEMONSTRATE

APPLICATIONS COLLABORATION REVENUE COMMENTS

Exclusive Novel

LED Applications

Successful completion

of Phase 1

Phase 2 Commenced

Green LEDs

Aluminium Nitride

Good progress producing fully

packaged LEDs that combine

RPCVD in HC Semitek R&D

LEDs

Green LEDs

Power Electronics

(HEMT)

Next iteration of

evaluation commenced

Foundry Services

—Wafer Sales Growing pipeline of customers

across a range of applications

Concentrated

Solar Cells No focus allocated presently

PHASE I PHASE II

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PROGRESS TOWARDS COMMERICALISATION F

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BluGlass is targeting the rapidly expanding LED, PV, and Power Electronics markets

Lighting

Mobile devices & TVs

Green & yellow LEDs

UV LEDs

Consumer electronics

Power supply

Data centers

Auto

Focus on utility

scale solar power

(concentrated

photovoltaics)

LED

POWER

ELECTRONIC

S

SOLAR

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Global revenue from LED

lighting systems is expected to total

$216 billion through to 2024

$2.5B The GaN and SiC power

electronics market is expected

to be worth $2.5 billion by 2023

80MWp Total Installed Market

Volume by end of 2015

$216B

RPCVD A PLATFORM TECHNOLOGY F

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DEMONSTRATE

KEY APPLICATIONS

Improve device

performance

combining RPCVD with MOVCD

GROW FOUNDRY

BUSINESS

Continue to work with

MOCVD & RPCVD customers

at the leading edge of

technology innovation to

grow revenue &

reputation in the industry

GAIN INDUSTRY

ACCEPTANCE

Complete industry

evaluation with multiple

partners in the value chain

(e.g. equipment & device manufacturers)

DRIVE

COMMERCIALISATION

BluGlass is evaluating a

number of commercialisation

options for RPCVD (inc. JV,

Strategic Partner, Licensing & Foundry)

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PATH TO MARKET F

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45% The LED lighting market is anticipated

to grow 45% per year through 2020

$216B Global revenue from LED

lighting systems is expected to total

$216 billion through to 2024

Source: Navigant Research

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END MARKETS LED F

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The Power Electronics markets also presents a growing opportunity for the RPCVD technology

$2.5B The GaN and SiC power

electronics market is

expected to be worth

$2.5B by 2023

The emerging global market

for SiC and GaN power

electronics is expected to grow

17-fold over the 10 years from

2013 through to 2023

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END MARKETS POWER ELECTRONICS F

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FACILITY in Sydney, Australia

1,200m2

12 Process Hardware

& Device Team

9PhDs

Currently

generating REVENUE

from custom epitaxy

& contract R&D

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FACILITY AND WORLD LEADING TEAM F

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Disruptive

platform

technology

Multiple,

growing end

markets

Well funded,

approaching

commercialisation

High end foundry

& service

capability

A team with global

leading expertise in

semiconductors

Multiple

awards &

grants

LED,

Power & Solar

Foundry sales

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CONCLUSION INVESTMENT HIGHLIGHTS F

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TECHNOLOGY REVIEW DR IAN MANN, CHIEF OPERATIONS

& TECHNOLOGY OFFICER

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LUMILEDS COLLABORATION – PHASE I

The initial collaboration involved

materials testing of RPCVD wafers

grown entirely at BluGlass which was

successfully completed in Oct 2016

Significantly different technology development to

what BluGlass has previously demonstrated

The Phase I demonstration of RPCVD involved

delivering technical milestones and

advantages previously

unachieved by either RPCVD or MOCVD

NEW IP GENERATED

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LUMILEDS COLLABORATION – PHASE II

Phase II will now involve the integration

of RPCVD with Lumileds LEDs for the

development of novel LEDs

Phase II requires development effort by

BluGlass and Lumileds and will involve multiple

iterations.

BluGlass expects commercial negotiations to

commence upon successful completion of

Phase II.

This will involve full device fabrication

at Lumileds and performance testing.

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HC SEMITEK COLLABORATION

RPCVD AlN ON PATTERNED SAPPHIRE FOR

HIGH PERFORMANCE LEDs

HC Semitek have fabricated fully packaged LED

devices using the RPCVD AlN 4” wafers with

very encouraging results

Further optimisation experiments are underway

RPCVD pGaN FOR HB GREEN LEDs

HC Semitek have fabricated a series of LEDs using

RPCVD p-GaN and initial results while promising

indicate further iterations are required

BLG is refining the RPCVD p-GaN process to grow

on their specific MOCVD MQW structures

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VEECO EVALUATION

RPCVD p-GaN FOR GREEN LEDs AND POWER

ELECTRONICS

Experiments have resulted in positive

performance of RPCVD

Veeco has expressed the need for larger

deposition area demonstration prior to engaging

their customers

BluGlass is pursuing, for example, a

demonstration of single 8” wafer for power

electronics applications

This requires the installation of the new BLG-300

chamber

EXPECT INSTALLATION IN EARLY

2017

BLG-300 Wafer size options – 200mm (8”)

silicon wafer demo needed for emerging

power electronics markets

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RPCVD SCALING PROJECT

All of BluGlass industry engagements and ultimately for

successful commercialisation requires a successful

performance demonstration that RPCVD is scalable

In 2015, BluGlass designed new chambers for each of

the two RPCVD platforms used in the Sydney facility

The first of the two chambers was installed earlier this

year on the BLG-180 system

The larger RPCVD system, the BLG-300 will be installed

in the new year

The BLG-180 has shown a dramatic improvement in

thickness uniformity as a result of the new chamber

design. Further experiments are ongoing to benchmark the

film quality.

We expect similar improvement in thickness

uniformity on the larger chamber once

implemented as that aspect of the design is

common to both

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BLUGLASS FOUNDRY SERVICES

Targeting strategic customers requiring both

RPCVD and MOCVD combined

BluGlass has repeat customers developing

applications in both LEDs and Laser Diodes

BluGlass has recently focused on developing

several demonstrators using our in-house

RPCVD and MOCVD capabilities to market to

the industry

Recently showcased several Key

Demonstrators at the recent International

Nitrides conference with several new leads

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KEY DEMONSTRATOR: RPCVD p-GaN + MOCVD for LEDs

Last QB

InGaN/GaN MQW

GaN:Si

u-GaN buffer

Sapphire

GaN:Mg (p+ cap) 20 nm

GaN:Mg (p-GaN) 120 nm

Regrowth interface

Green LED with RPCVD p-GaN

Green and Blue partial LED

structures were grown by

BluGlass using MOCVD.

The partial LEDs were then

completed by overgrowing

with p-GaN using RPCVD.

The electroluminescence (EL)

of the MOCVD and RPCVD

LEDs were measured using

LED quick test with indium dot

contacts.

EL DATA (BLG-300) WAFER QUICK TEST

At 20 mA At 50 mA

Light Output (mW) 1.6 3.7

Vf (V) 3.9 5.1

Peak Wavelength (nm) 525 515

FWHM (nm) 33 36

LOP: 1.6 mW, Vf: 3.9 V, I: 20 mA, FWHM: 33 nm

RP

CV

D

MO

CV

D M

QW

ST

RU

CT

UR

E

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KEY DEMONSTRATOR: Basic properties and preliminary full RPCVD LED

HALL DATA (using

indium contacts)

n-GaN p-GaN

Carrier Concentration

(cm-3)

3.8 x 1018 1.4 x 1018

Mobility (cm2/V.s) 329 5.0

Resistivity (Ohm.cm) - 0.9

MOCVD GaN template

500nm

RPCVD GaN

To attract further industry

interest BluGlass continues

to enhance the RPCVD

capability

microLED players have

shown interest in RPCVD

capability for blue, green,

yellow and red LEDs for

display applications

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AlN nucleation layer

PS Substrate

Regrowth interface

GaN:Mg (p+ cap) 20 nm

GaN:Mg (p-GaN) 120 nm

EBL

InGaN/GaN MQW

GaN:Si

u-GaN buffer

Key Demonstrator: RPCVD AlN on 4” wafers for LEDs

A thin RPCVD AlN NL was

grown on 100mm (4”)

Patterned Sapphire

Substrates (PSS)

These wafers were then

overgrown with MOCVD

Blue LED structures, using

the RPCVD AlN layer as

the nucleation layer.

RP

CV

D

MO

CV

D B

lue

LE

D

HRXRD FWHM rocking curves (arcs)

(002) 241

(102) 360

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RPCVD DEMONSTRATOR: RPCVD p-GaN on MOCVD HEMT for Power Electronics

1.E+00

1.E+01

1.E+02

1.E+03

1.E+04

1.E+05

1.E+06

1E+14

1E+15

1E+16

1E+17

1E+18

1E+19

1E+20

1E+21

0 100 200 300 400 500 600 700

Se

co

nd

ary

io

n i

nte

nsit

y (

co

un

ts/s

ec

on

d)

Co

nc

en

tra

tio

n (

Ato

ms

/cm

3)

Depth (nm)

SIMS: RPCVD p-GaN on MOCVD 2-DEG (BLG-300)

Mg

C

H

Al

RPCVD p-GaN 2DEG

MOCVD u-GaN

2DEG

GaN

GaN NL and Buffer

2” c-plane Sapphire

RPCVD p-GaN

RPCVD p-GaN has benefits in

the application of GaN to

Enhancement-mode HEMT

devices.

The lower growth

temperature reduces the

back-diffusion of Mg into the

2-DEG.

A sharp Mg turn-on for E-mode

HEMTs using p-GaN helps

reduce device breakdown and

RON.

MO

CV

D

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THANK

YOU

bluglass.com.au

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Documents

For personal use only - · PDF filemarket leader Lumileds For personal use only. ... Nitrides conference with several new leads —28 For personal use only. ... LED quick test with