ASX Tech Stocks: Semiconductor player BluGlass’ lasers pass reliability testing
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Semiconductor company Bluglass (ASX:BLG) has demonstrated the feasible reliability of its gallium nitride laser diodes which are used across the industrial, defence, bio-medical, and scientific markets.
The lasers have passed 500 hours of continuous operation with stable optical and electrical performance – a critical milestone needed for beta production and product launches.
It’s also a milestone that enables the company to increase engagement with potential customers.
“Demonstrating reliable laser diodes is a significant milestone, reflecting the suitability of our lasers for use in a vast number of applications,” BluGlass president Jim Haden said.
“Commercial reliability is not a one-size fits all approach, varying greatly depending on the application.
“At one end of the spectrum, we have single-use applications such as pyrotechnics, which require one-shot reliability and good ‘shelf-life.’
“At the other end of the spectrum are very sophisticated space-based and industrial applications, which often require reliability of more than 10,000 hours and even years of operation.
“Many applications, including medical and scientific applications, require less than 1,000 hours’ reliability.”
Reliability testing is ongoing, with the company moving toward a fixed beta design.
“We expect current iterations featuring new epitaxy designs and enhanced processing through our Silicon Valley fab will demonstrate improved yield, reliability, and performance as we continue to refine our laser diodes ahead of product launches,” Haden added.
ESG platform K2Fly has nabbed a contract expansion with Rio Tinto (ASX:RIO) for its reconciliation module – and extension of the current mineral resource governance solution the company uses for reconciliation reporting across 24 sites.
This represents the first sale of the Reconciliation Module to a tier-1 global mining group and over the three-year term has a Total Contract Value (TCV) of AU$360k and Annual Recurring Revenue (ARR) of AU$75k.
Mine reconciliation is the process of comparing predictions and production performance to validate those predictions, and the company’s module facilitates the capture of model predictions and production information from mine sites, automates data validations, provides dashboards for review of outcomes, generates standardised reports, and enables key stakeholder approvals.
Rio Tinto will be able to use the platform to compare performance across multiple mines to identify and promulgate good practices.
“We have made tremendous strides forward in delivering key components to build out our Mineral Resource Governance suite as the only vendor focussed on delivering a commercial-off-the-shelf solution to this global market,” CEO Nic Pollock said.
The immersive employee well-being company has announced a new enterprise contract with UPMC Health Plan, a Pittsburgh, Pennsylvania based insurance company.
The platform is slated to launch in January 2023 and be available to nearly two million UPMC Health Plan members, including those covered by fully insured and self-insured plans, as well as those covered by UPMC Health Plan’s Medicare products.
“Through serving a large portion of UPMC Health Plan members, this agreement will be one of Limeade’s top five customers,” CEO Henry Albrecht said.
“Our entire company is focused on innovating, serving customers and converting our late-stage pipeline to high quality contracts so that we can deliver organic CARR growth in FY22 and drive adjusted EBITDA breakeven in FY23.”
Under the terms of the contract, Limeade will receive US$10.5 million over the three-year contract, representing Contracted Annual Recurring Revenue (CARR) of US$3.5 million.