BluGlass completes acquisition of US laser diode fab
Australian semiconductor developer BluGlass has completed its acquisition of a 19,000 square feet purpose-built commercial laser diode production facility lease and manufacturing equipment in Silicon Valley for USD 2.5 million.
BluGlass will now start moving into the facility and preparing its adaption for gallium nitride (GaN) laser diode production – a process which the company expects to take several months. The acquisition will enable BluGlass to accelerate its longer- term growth strategy, bringing key fabrication processes in-house, to improve the quality and consistency of its GaN laser diodes.
”Our newly acquired laser diode fab is game-changing for our growth trajectory. It allows us to significantly scale our manufacturing and revenue generation capacity, improve the quality and repeatability of our laser diodes expected by our customers, and fast-track development timelines for higher-value products at extended wavelengths. At the same time, it will eliminate supply chain complexity and halve our wafer production costs, paving the way for cash flow break-even,” says BluGlass’ President Jim Haden in a press release.
Mr. Haden continues to say that the company, for continuity, will continue to work with its contract manufacturers over the next year and that the company remain on track to launch its first laser diodes in mid-2022.
”The opportunity to acquire a fully operational manufacturing fab, accompanying equipment, and skilled team is incredibly rare, particularly at a time when semiconductor demand is outstripping supply. Our own fab provides the foundation for our future growth and enables us to execute on our strategy to take market share within a high-margin, fast-growing market,” the president says.
The company is now looking to raise up to USD 7.5 million for the ongoing operation of the production facility, additional capex for advanced manufacturing capabilities, and talent hire.