Bluglass Ltd · ASX:BLG
Bluglass — Shareholder Meeting (November 2014)
41 slides from Bluglass's shareholder meeting presentation, Nov 24, 2014
Slide 1: BluGlass 2014 AGM Presentation
For personal use only BLUGLASS 2014 AGM PRESENTATION 24 November 2014 BLUGLASS PRESENTATION – JUNE 2012 BLUGLASS LIMITED 2014 AGM PRESENTATION
Slide 2: Disclaimer
DISCLAIMER For personal use only This document has been prepared by BluGlass Limited to provide existing and prospective investors in BluGlass Limited with a summary of progress to date. Any statements, opinions, or other material contained in this document do not constitute any commitments, rep
Slide 3: The Year in Review
THE YEAR For personal use only IN REVIEW George Venardos, Non-Executive Chairman A year of strong technical progress and our first revenue from the newly established custom epitaxy business – our Silverwater facility has been upgraded significantly, increasing our productivity BLUGLASS PRESENTATION
Slide 4: Facilities Upgrade Work
FACILITIES UPGRADE WORK For personal use only BLUGLASS PRESENTATION – JUNE 2012 BLUGLASS LIMITED 2014 AGM PRESENTATION 4
Slide 5: Facility Upgrade Complete
FACILITY UPGRADE COMPLETE For personal use only BLUGLASS LIMITED 2014 AGM PRESENTATION 5
Slide 6: Significant Progress During 2014
SIGNIFICANT PROGRESS DURING 2014 For personal use only December 2013 First customer revenues received for MOCVD custom epitaxy orders During the Year 14 additional patents granted in strategic semiconductor markets Added three new key staff, including GaN and semiconductor During the Year hardware d
Slide 7: 2014 Financial Results
2014 FINANCIAL RESULTS For personal use only CURRENT CASH POSITION (as at 30 Sep 2014) $3.6M AS AT JUNE 30 FY12 FY13 FY14 Revenue and Other Income $’000 2,478 4,726 4,112 Net loss $’000 (6,231) (1,676) (2,898.4) NET CASH 3,549 5,590 2,445 KEY CASH EVENTS: July 2013 - $3M Cleantech Innovation Grant
Slide 8: The Year Ahead
THE YEAR AHEAD For personal use only Giles Bourne, Managing Director We expect the coming year to be one in which we gain customer acceptance for our technology BLUGLASS PRESENTATION – JUNE 2012 BLUGLASS LIMITED 2014 AGM PRESENTATION
Slide 9: Performance Card
PERFORMANCE CARD For personal use only WHAT WE SET OUT TO DO WHAT WE ACHIEVED TECHNOLOGY Increased RPCVD light output and continued Meet milestones, especially p-GaN performance progress towards Brighter LED milestone Accelerate R&D in other areas (GaN on silicon) Work commenced on GaN / sil
Slide 10: IP Portfolio Management
IP PORTFOLIO MANAGEMENT For personal use only IP STRATEGY We are building a defendable portfolio of patents whilst constantly monitoring the competitive landscape 2013 November 2014 Provisional and pending patent 17 Pending patent applications 15 applications International granted patents in s
Slide 11: RPCVD Applications Overview
RPCVD APPLICATIONS OVERVIEW For personal use only BLUGLASS PRESENTATION – JUNE 2012 BLUGLASS LIMITED 2014 AGM PRESENTATION 11
Slide 12: RPCVD Commercialisation Options
RPCVD COMMERCIALISATION OPTIONS For personal use only Vendor Path to Market e.g. LED Manufacturer JV or licence Strategic Partner e.g Nitride Foundry JV or licence Commercial discussions e.g. MOCVD / commenced - actively Semiconductor JV or licence evaluating both the direct Equipment Manufacturer p
Slide 13: HB LED Path to Market
HB LED PATH TO MARKET For personal use only HB LED MARKET OPPORTUNITY Low temperature p-GaN to enable increased LED efficiency VALUE PROPOSITION by reducing the degradation of MQW during growth p-GaN roadmap is progressing MQW and GaN / Si work has commenced STATUS Initial commercial discussio
Slide 14: HB LED Market Opportunity
HB LED MARKET OPPORTUNTITY For personal use only MOCVD UNIT SALES 2013-2017E, HB LED MARKET OPPORTUNITY (Gartner Research and Berenburg Estimate) LED lighting market will reach $25.6B of the $82B overall lighting market US $990M1 Aixtron & Veeco MOCVD revenue in 2013 CAGR of 14.13% (2013- 2018
Slide 15: UV LEDs Potential RPCVD Market
UV LEDs POTENTIAL RPCVD MARKET For personal use only UV LEDs MARKET OPPORTUNITY RPCVD can potentially enable high quality aluminium (Al) rich AlGaN to achieve increased UV LED efficiency. There is a sizable market potential in water treatment and medical applications for UV LEDs. VALUE PROPOSITION C
Slide 16: UV LEDs Market Opportunity
UV LEDs MARKET OPPORTUNITY For personal use only UV LED MARKET size 2012-2017 (UV LEDs Report, Yole Developement, March 2013) UV LED MARKET OPPORTUNITY UV LED is expected to grow from $45M in 2012 to nearly $270M by 20173 with a CAGR of ~43%3 BLUGLASS PRESENTATION – JUNE 2012 16 3. UV LEDs Report
Slide 17: Green & Yellow LEDs
GREEN & YELLOW LEDs For personal use only GREEN & YELLOW LEDs MARKET OPPORTUNITY Low temperature p-GaN to enable increased LED efficiency by reducing the degradation of the MQW during growth. VALUE PROPOSITION Low temperature RPCVD can potentially enable high quality indium rich InGaN MQWs necessary
Slide 18: InGaN CPV Path to Market
InGaN CPV PATH TO MARKET For personal use only InGaN CPV MARKET OPPORTUNITY InGaN has a direct band gap with wide tunability. This can potentially be exploited in a solar cell to allow more energy to be converted to power from the solar spectrum. VALUE PROPOSITION RPCVD has the potential to grow ind
Slide 19: InGaN CPV Market Opportunity
InGaN CPV MARKET OPPORTUNTITY For personal use only InGaN CPV MARKET OPPORTUNITY CPV MARKET, GLOBAL INSTALLED CAPACITY, MW 2011-2022 CPV market is expected to grow to 4.75GW by 20204 CPV continues to emerge as the most effective method to deliver large scale, cost effective renewable energy from
Slide 20: Power Electronics Path to Market
POWER ELECTRONICS PATH TO MARKET For personal use only POWER ELECTRONICS MARKET OPPORTUNITY GaN / Si is prone to cracking and bowing during high temperature manufacture due to large lattice & thermal mismatch VALUE PROPOSITION Low temperature RPCVD has the potential to reduce bowing, cracking and to
Slide 21: Power Electronics Market Opportunity
POWER ELECTRONICS MARKET OPPORTUNTITY For personal use only POWER ELECTRONICS MARKET GaN POWER DEVICE MARKET OPPORTUNITY IMS Research Feb 2012 GaN power electronics is an emerging market, worth $12.6M in 20125 Forecast CAGR of 63.7% to 2022 to reach $1.75B5 5. IMS Research, Feb 2012 BLUGLASS PRE
Slide 22: Laser Diodes Potential RPCVD Market
LASER DIODES POTENTIAL RPCVD MARKET For personal use only LASER DIODES MARKET OPPORTUNITY The same value proposition that exists for HB LEDs through low temperature VALUE PROPOSITION p-GaN is applicable for the Laser Diode market offering improved device efficiency through reduced degradation of the
Slide 23: Aluminium Nitride Templates
ALUMINIUM NITRIDE TEMPLATES For personal use only ALUMINIUM NITRIDE TEMPLATES MARKET OPPORTUNITY Potential for lower defect density which can lead to significantly improved VALUE PROPOSITION device efficiency and performance output in power electronic and LED applications Power electronics and LEDs
Slide 24: Custom Epi / Foundry Path to Market
CUSTOM EPI/ FOUNDRY PATH TO MARKET For personal use only CUSTOM EPITAXY / FOUNDRY MARKET OPPORTUNITY MOCVD capability with leading edge staff VALUE PROPOSITION Fast prototyping PRODUCT / REVENUE LED wafers OPPORTUNTITIES Power electronics wafers Other applications BluGlass now has multiple c
Slide 25: The Custom Epitaxy Business
THE CUSTOM EPITAXY BUSINESS For personal use only BluGlass offers Gallium Nitride based Research & Development services for the manufacture of custom nitride templates and device wafers through an agreement with xVI Technologies. BLUGLASS PRESENTATION – JUNE 2012 BLUGLASS LIMITED 2014 AGM PRESENTATI
Slide 26: MOCVD & RPCVD Custom Epi Capability
MOCVD & RPCVD CUSTOM EPI CAPABILITY For personal use only BLUGLASS PRESENTATION – JUNE 2012 BLUGLASS LIMITED 2014 AGM PRESENTATION 26
Slide 27: The Technology Update
THE TECHNOLOGY UPDATE Dr. Ian Mann, For personal use only Chief Operations and Technology Officer Significant improvement in our low temperature p-GaN LED performance has led to several key industry inquiries and has attracted interest in RPCVD for other applications BLUGLASS PRESENTATION – JUNE 201
Slide 28: Benefits of RPCVD for LEDs
BENEFITS OF RPCVD FOR LEDs For personal use only A low temperature growth system such as RPCVD may offer LED manufacturers compelling performance advantages at several stages of device growth. Low temperature p-GaN is one area that BluGlass is presently focusing on. LED STRUCTURE GROWN USING MOCVD B
Slide 29: HB LED: Low Temperature p-GaN
HB LED: LOW TEMPERATURE p-GaN For personal use only Using BluGlass’s MOCVD to grow partial LEDs and then overgrow with RPCVD p-GaN has shown steady improvements in the device light output and efficiency over the year. While not at the MOCVD benchmark performance yet, progress has been significant en
Slide 30: 2013/14 Technical Progress (1)
2013/14 Technical Progress (1) For personal use only Implemented a critical hardware improvement – an enhanced plasma source capable of producing a high density of active nitrogen Rationale (a) – A high density of active nitrogen assists in improving film quality Rationale (b) – For scaling to l
Slide 31: 2014 Technical Progress (2)
2014 TECHNICAL PROGRESS (2) For personal use only Integrated MOCVD and RPCVD growth Rationale (a)– The last layer grown in MOCVD Rough becomes the starting growth surface for RPCVD - to MOCVD date RPCVD has grown best on smooth surfaces MQW Rationale (b)– The last layer(s) grown in MOCVD must pr
Slide 32: 2014 Technical Progress (3)
2014 TECHNICAL PROGRESS (3) For personal use only Scaled the plasma technology to a larger deposition area RPCVD system Rationale (a)–– Need to convince potential customers that the RPCVD technology is readily transferable from the prototype system (BLG-180) to larger platforms (BLG-300) Rationa
Slide 33: HB LED: p-GaN and MQW Grown Using RPCVD
HB LED: p-GaN AND MQW GROWN USING RPCVD For personal use only Several industry inquiries related to the ability to develop an RPCVD system capable of doing both the MQW and p-GaN to exploit the advantages of low temperature combined with the high growth rate capability of MOCVD for the thicker under
Slide 34: HB LED: Low Temperature GaN on Silicon
HB LED: LOW TEMPERATURE GaN ON SILICON For personal use only In 2013, BluGlass was awarded a $3M Grant from the Australian Government to advance the RPCVD technology for LEDs on Si – combining the potential low temperature advantages of p- GaN to improve the device efficiency whilst reducing the bow
Slide 35: Power Electronics: Low Temperature GaN on Silicon
POWER ELECTRONICS: LOW TEMPERATURE GaN ON SILICON For personal use only GaN based power electronics applications use significantly different structures of nitrides compared to LEDs. These GaN applications typically require a high electron mobility transistor structure (HEMT) grown on Si, which have
Slide 36: Nitrides for Specific Applications: Technical Primer
NITRIDES FOR SPECIFIC APPLICATIONS: Technical primer For personal use only BLUGLASS PRESENTATION – JUNE 2012 BLUGLASS LIMITED 2014 AGM PRESENTATION 36
Slide 37: Concentrated Photovoltaics (CPV): Indium Rich InGaN
CONCENTRATED PHOTOVOLTAICS (CPV): INDIUM RICH InGaN For personal use only The potential advantage of RPCVD for CPV involves the tuning of InGaN composition with low temperature to enable indium rich InGaN compositions not readily accessible with MOCVD. A multi-junction InGaN solar cell has the poten
Slide 38: Green and Yellow LEDs (and Laser Diodes)
GREEN AND YELLOW LEDS (AND LASER DIODES): LOW TEMPERATURE p-GaN AND In RICH MQW For personal use only Longer wavelength nitride based LEDs or Laser Diodes (green, yellow or red) require indium rich MQWs. This requires growing the MQW at lower temperatures (even lower than for blue) which in turn amp
Slide 39: UV LED: Aluminum Rich AlGaN
UV LED: ALUMINUM RICH AlGaN For personal use only MOCVD grown UV LEDs currently exhibit low efficiencies - significant improvement is required to address this market. One issue with MOCVD is the requirement for high quality Al rich AlGaN structures that are very difficult to achieve in conventional
Slide 40: RPCVD AlN Templates
RPCVD AlN TEMPLATES For personal use only Another potential use of RPCVD is for growing high quality AlN templates at lower temperatures possible than in MOCVD. These types of templates can be used in many of the typical GaN applications including LEDs (including UV LEDs) and power electronics. This
Slide 41: Thank You
THANK YOU For personal use only BLUGLASS PRESENTATION – JUNE 2012 BLUGLASS LIMITED 2014 AGM PRESENTATION 41