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ASX Tech Stocks: BluGlass teams up with Ganvix to develop some fancy new lasers
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- BluGlass partners with Ganvix to develop GaN Vertical Cavity Surface Emitting Lasers
- Drone player Elsight nabs a US$450k grant from the Israel Innovation Authority
- AI translation company Straker says revenue was up 42% at $33 million for H1
Semiconductor player BluGlass (ASX:BLG) has had a busy week, demonstrating the feasible reliability of its gallium nitride laser diodes and today announcing a partnership with Ganvix to develop GaN Vertical Cavity Surface Emitting Lasers (VCSELs) for green wavelengths (515nm-525nm).
BluGlass will provide Ganvix with green quantum-well epitaxy services using its proprietary remote plasma chemical vapour deposition (RPCVD) technology, which offers key performance advantages for green wavelengths, to enable higher power, brighter green performance.
“Our collaboration with Ganvix will advance our RPCVD roadmaps and expands our market opportunity,” president Jim Haden says.
“Importantly, the collaboration complements our own product and commercialisation roadmap, which is focused on edge-emitting laser diodes.”
Green GaN VCSEL lasers have broad market applications including consumer electronics, industrial, medical, life sciences, light engines for laser scanning displays, and laser arrays for fibre-based communications.
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Drone connectivity company Elsight has been selected by the Israel Innovation Authority for a US$450K grant for the second expanded phase of flight testing and demonstration with drones in Israel’s airspace.
It’s a two-year project to experiment with operating large drones intended to carry passengers and heavy cargo in a single-managed airspace.
This second phase pilot project will commence January 2023 and require the 10 participating companies to carry out one week of flights across designated Israeli airspace every month for the following 24 months.
The aim is to expand tests with long-range aircraft flights carrying heavy loads, with the goal that in the future, it will be possible to fly passengers from one location to another and improve the congestion situation in Israel through the use of drones.
“[The grant] is another great validation of our product portfolio value proposition and market fit in the drone industry, and it will help us to push even further and get to new heights,” CEO Yoav Amitai said.
The grant will also support the financing of the expansion of the Halo BVLOS connectivity system roadmap.
The pure play AI translations saw revenue rocket up in the first half of the financial year as it locked in a further three years with computer giant IBM.
The company reported a March 31, year end, announced revenue of $33 million, up 42 per cent from the same period the year before.
Adjusted EBITDA was $0.6 million, a significant improvement on the -$1m in the same period last year.
The company also reported a strong balance sheet with no debt and cash of $12.4 million as at September 30, 2022 and reaffirmed its guidance for profitable growth in revenue in FY23 of 20 per cent with gross margins exceeding the 54 per cent achieved in FY22.
Founder and CEO Grant Straker said the company was well positioned in the face of geopolitical tensions and adverse macroeconomic conditions and saw increasing revenue opportunities in Q4.
“Straker’s global reach and capability as well as our technology leadership represent a more compelling proposition to customers than ever,” he said.
“We are building on our strengths with our new focus on delivering our services through workplace super apps such as Microsoft Teams and Slack, a move aligned with our strategy to ‘be where the customer works’.”
ELS and STG share prices today:
At Stockhead we tell it like it is. While Elsight and Straker are Stockhead advertisers, they did not sponsor this article.
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