BluGlass secures $8M research funding facility
- BluGlass has executed terms for a new $8 million research and development funding facility with Rockford RDF.
- The deal provides $5.5 million in additional funding liquidity after refinancing an existing loan.
- The extra working capital will support operational objectives and commercial growth initiatives.
Semiconductor developer BluGlass (ASX:BLG) has secured a new $8 million research and development loan facility to support its growth initiatives.
The agreement with Rockford RDF refinances the company's existing $2.3 million facility with Radium Capital, providing approximately $5.5 million in net additional liquidity.
"The new debt facility gives BluGlass early access to anticipated R&D Tax Incentive refunds that will be used to advance our operational and commercial objectives," said BluGlass CEO and Managing Director Jim Haden.
The debt facility carries a 16.5% annual interest rate and a 2.5% establishment fee split between cash and company shares.
The loan is secured primarily against expected research tax refunds through 2027, with full repayment required no later than March 2028.
Following the announcement, the BluGlass share price was unchanged at $0.24.
The commercial facility builds on recent growth momentum, including a $1.4 million development contract secured with photonics firm Uviquity.
BluGlass develops specialised gallium nitride laser technologies for high-growth sectors, including defence, quantum sensing, and artificial intelligence infrastructure.
