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BluGlass (ASX:BLG) has this morning confirmed its receipt of an $230,000 order from the Indian Department of Defence (DoD) to supply a gallium nitride laser to India’s Solid State Physics Laboratory.
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This is one of BluGlass’s key products it’s long been working on: A ‘GaN’ laser diode. In short, the lasers are used in the manufacture of microchips.
‘BluGlass’ gets its name from the fact the lasers work in the blue wavelength of visible light.
The shorter wavelengths of blue lasers make them ideal for certain scientific applications – they produce less “noise,” perform better on highly polished surfaces, and don’t penetrate as deeply into small objects as red lasers; useful when crafting microchips.
Precision in semiconductor manufacture needs to be microscopic, if not nano, and that is why a highly focused but “gentle” laser is desirable. (At least, that’s what this finance journalist can put together based on desktop research.)
Or, you can take it from BLG CEO Jim Haden: “GaN lasers offer compact performance, higher photon energy, and improved temperature stability, making them ideal for underwater and atmospheric LiDAR applications, countermeasures and jamming systems, communications, and quantum sensing and computing.”
At any rate, the stock jumped +16% on Friday to 1.1cps – worth considering is BluGlass has 2B shares on issue. That jump came on $100K worth of trades; 10M shares moved at the time of writing on Friday versus a 4 week average of 3.2M per day.
Still: One-year returns for the nanocap are down -70%.
But clearly, today’s news was received well by some, as evidenced by the price moves.
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“We are pleased to now be an approved supplier and to secure our first purchase order for GaN lasers with the Indian Government … BluGlass was selected due to our ability to solve our customers’ most complex problems,” Haden added.
BLG last traded at 1.1cps.
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