BLUGLASS LIMITED — AGM Information 2016

Nov 20, 2016

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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2016

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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2016

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CORPORATE OVERVIEW
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BOARD SHAREPRICE CORPORATE AWARDS & as at 18 Nov. 2016 GRANTS Established

2013 Australian Cleantech Competition Winner & 2006 2013 Australian Cleantech Competition Manufacturing Award GLOBAL TOP 30 ASX:BLG Finalist in GCCA Cleantech Later Stage Award $5M Commercial Ready Grant 371.8M $5M Climate Ready Grant shares issued

George Venardos Chairman

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Bill Johnson Non Executive Director Giles Bourne Managing Director Chandra Kantamneni Non Executive Director Greg Cornelsen Non Executive Director Vivek Rao Non Executive Director

ASX:BLG

$3M

Cleantech Innovation Grant

BLUGLASS LIMITED ANNUAL GENERAL MEETING 2016

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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2016

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2016 HIGHLIGHTS
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BluGlass has made significant technical progress in bringing RPCVD towards commercialisation

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NOV 2015
MAR 2016 APR 2016 SEP 2016 OCT 2016
Tier 1 LED company
approached BluGlass SPT Micro- Successful capital Upgraded RPCVD Successful capital
to explore RPCVD for technologies VP Vivek raising: system (BLG-180) raising:
novel implementation Rao joins BluGlass $3M Placement comes online $5M Placement
of LEDs Board
NOV 2015 MAR 2016 APR 2014 OCT 2016 NOV 2016
Enters into
Veeco evaluation Lumileds & BluGlass
moves to next iteration Enters into Exclusive Collaboration Enter Phase II BluGlass receives
following promising initial results Collaboration with LED market leader Semitek Agreement with for multiple HC Collaborationof Exclusive $600K Foundry Order from New Custiomer
Lumileds LED applications
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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2016

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FOUNDRY UPDATE
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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

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

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PATENTS
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Hardware & Process Patents

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42
23 6
GRANTED
PATENTS PATENT PATENT
in key markets; APPLICATIONS FAMILIES
China, Japan, USA
& Europe
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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2016

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FINANCIAL PERFORMANCE
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CURRENT POSITION

FORECAST POSITION

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$5M $435K $2.1M $2M
$1.9M
RAISED IN BURN RATE/MONTH ANTICIPATED R&D TAREGETED VIA 2016
CASH POSITION
OCTOBER DOWN FROM $450K TAX REBATE TO BE SPP CURRENTLY
AT END OF SEP
PLACEMENT MONTH IN 2016 RECEIVED IN 2016 UNDER OFFER
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This would provide BluGlass with a robust cash position to expedite commercialisation activity

$10.5M OVER 2YRS

Giving BluGlass a run-way of greater 2 years

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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2016

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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2016

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LUMILEDS COLLABORATION CONTINUES TO MAKE
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World leading LED company evaluating RPCVD

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NOV 15 MAR 16 OCT 16 OCT 16 FUTURE
INITIAL EVALUATION BLUGLASS & LUMILEDS BLUGLASS COMPLETES BLUGLASS & LUMILEDS COMPLETE PHASE II OF
OF RPCVD ENTER EXCLUSIVE DELIVERY OF PHASE 1 ENTER PHASE II OF COLLABORATION &
BY LUMILEDS COLABORATION FOR MILESTONES COLLABORATION COMMENCE COMMERCIAL
RPCVD LEDS NEGOTIATIONS
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LUMILEDS COLLABORATION ENTERS PHASE II
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Exclusive collaboration agreement with market leader—device manufacturer

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RPCVD Evaluation

Collaboration is focused on a novel application of RPCVD for LEDs

Phase II will further Investigate the integration of BluGlass’ RPCVD technology into certain LED applications

STATUS

BluGlass has successfully delivered the technical milestones of Phase I of the Lumileds Exclusive Evaluation

Lumileds and BluGlass have agreed to commence Phase II of the Evaluation

BLUGLASS LIMITED ANNUAL GENERAL MEETING 2016

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HC SEMITEK COLLABORATION
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Collaboration Agreement with Leading Chinese LED Device Manufacturer

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Collaborative evaluation with leading Chinese LED manufacturer

Targeting enhanced performance and lower cost LEDs using RPCVD

LEADING CHINESE LED COMPANY EXPLORING RPCVD FOR MULTIPLE APPLICATIONS

• HC Semitek will evaluate two applications of RPCVD:

• - Low temperature p-GaN for Green LEDs & - Aluminium Nitride on sapphire substrates for high brightness LEDs

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VEECO EVALUATION ENTERED NEXT ITERATION
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RPCVD Evaluation

STATUS

Worlds largest MOCVD equipment manufacturer NASDAQ: VECO

$806M

LED

Power Electronics

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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

Market cap

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PROGRESS TOWARDS COMMERICALISATION
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PARTNER	APPLICATION / TECHNOLOGY	DEMONSTRATE APPLICATIONS	COLLABORATION	COLLABORATION	REVENUE	COMMENTS
	Exclusive Novel LED Applications		PHASE I	PHASE II		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

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RPCVD A PLATFORM TECHNOLOGY
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BluGlass is targeting the rapidly expanding LED, PV, and Power Electronics markets

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LED
POWER
ELECTRONIC
S
SOLAR
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Lighting Mobile devices & TVs Green & yellow LEDs UV LEDs

Consumer electronics

Power supply Data centers Auto

Focus on utility scale solar power (concentrated photovoltaics)

$216B 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

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PATH TO MARKET
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GROW FOUNDRY
BUSINESS GAIN INDUSTRY
DEMONSTRATE
ACCEPTANCE
KEY APPLICATIONS
Continue to work with
MOCVD & RPCVD customers Complete industry
Improve device
at the leading edge of evaluation with multiple
performance
technology innovation to partners in the value chain
combining RPCVD
with MOVCD grow revenue & (e.g. equipment & device
reputation in the manufacturers)
industry
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DRIVE
COMMERCIALISATION
BluGlass is evaluating a
number of commercialisation
options for RPCVD (inc. JV,
Strategic Partner, Licensing
& Foundry)
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END MARKETS LED
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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

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Source: Navigant Research

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END MARKETS POWER ELECTRONICS
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The Power Electronics markets also presents a growing opportunity for the RPCVD technology

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$2.5B
The GaN and SiC power
electronics market is
expected to be worth
$2.5B by 2023
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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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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2016

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FACILITY AND WORLD LEADING TEAM
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1,200m [2 ]
FACILITY in
Sydney, Australia
12
Process Hardware
& Device Team
9PhDs
Currently
generating REVENUE
from custom epitaxy
& contract R&D
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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2016

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CONCLUSION INVESTMENT HIGHLIGHTS
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LED,
Power & Foundry
sales
Solar
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Disruptive platform technology

Multiple, Well funded, growing end approaching markets commercialisation

High end foundry A team with global Multiple & service leading expertise in awards & capability semiconductors grants

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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2016

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LUMILEDS COLLABORATION – PHASE I
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The initial collaboration involved materials testing of RPCVD wafers grown entirely at BluGlass which was successfully completed in Oct 2016

The Phase I demonstration of RPCVD involved delivering technical milestones and advantages previously unachieved by either RPCVD or MOCVD

Significantly different technology development to what BluGlass has previously demonstrated

NEW IP GENERATED

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LUMILEDS COLLABORATION – PHASE II
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Phase II will now involve the integration of RPCVD with Lumileds LEDs for the development of novel LEDs

This will involve full device fabrication at Lumileds and performance testing.

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.

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HC SEMITEK COLLABORATION
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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
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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

BLG-300 Wafer size options – 200mm (8”) silicon wafer demo needed for emerging power electronics markets

This requires the installation of the new BLG-300 chamber

EXPECT INSTALLATION IN EARLY 2017

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RPCVD SCALING PROJECT
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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

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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
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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
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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.

Green LED with RPCVD p-GaN LOP: 1.6 mW, Vf: 3.9 V, I: 20 mA, FWHM: 33 nm RPCVD MOCVD MQW STRUCTURE	Green LED with RPCVD p-GaN LOP: 1.6 mW, Vf: 3.9 V, I: 20 mA, FWHM: 33 nm RPCVD MOCVD MQW STRUCTURE	GaN:Mg (p+ cap) 20 nm GaN:Mg (p-GaN) 120nm Regrowth interface	GaN:Mg (p+ cap) 20 nm GaN:Mg (p-GaN) 120nm Regrowth interface
		Last QB InGaN/GaN MQW GaN:Si u-GaN buffer Sapphire
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

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KEY DEMONSTRATOR: Basic properties and preliminary full RPCVD LED
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RPCVD GaN
500nm
MOCVD GaN
template
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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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HALL DATA (using n-GaN p-GaN indium contacts)

Carrier Concentration 3.8 x 10[18] 1.4 x 10[18] (cm[-3] ) Mobility (cm[2] /V.s) 329 5.0 Resistivity (Ohm.cm) - 0.9

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Key Demonstrator: RPCVD AlN on 4” wafers for LEDs
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A thin RPCVD AlN NL was grown on 100mm (4”) Patterned Sapphire Substrates (PSS)

GaN:Mg (p+ cap) 20 nm grown on 100mm (4”) GaN:Mg (p-GaN) 120 nm Patterned Sapphire EBL Substrates (PSS) InGaN/GaN MQW These wafers were then GaN:Si overgrown with MOCVD u-GaN buffer Blue LED structures, using the RPCVD AlN layer as Regrowth interface the nucleation layer. AlN nucleation layer PS Substrate HRXRD FWHM rocking curves (arcs) (002) 241 (102) 360

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RPCVD DEMONSTRATOR: RPCVD p-GaN on MOCVD HEMT for Power Electronics
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||||||||||
|---|---|---|---|---|---|---|---|---|
|SIMS: RPCVD p-GaN on MOCVD 2-DEG (BLG-300)|RPCVD p-GaN|
|1E+21|1.E+06|
|Al|
|Mg|2DEG|
|1E+20|
|1.E+05|GaN|
|H|
|GaN NL and Buffer|
|1E+19|
|1.E+04|
|2” c-plane Sapphire|
|1E+18|C|
|1.E+03|RPCVD p-GaN has benefits in|
|the application of GaN to|
|1E+17|
|Enhancement-mode HEMT|
|1.E+02|devices.|
|1E+16|RPCVD p-GaN|2DEG|
|The lower growth|
|MOCVD u-GaN|
|1.E+01|temperature reduces the|
|1E+15|
|back-diffusion of Mg into the|
|2-DEG.|
|1E+14|1.E+00|
|0|100|200|300|400|500|600|700|A sharp Mg turn-on for E-mode|
|Depth (nm)|HEMTs using p-GaN helps|
|reduce device breakdown and|
|RON.|

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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2016

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THANK
YOU
bluglass.com.au
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BLUGLASS LIMITED ANNUAL GENERAL MEETING 2016