today announced that it has signed a term sheet outlining the material, terms
and conditions to be encompassed in an Exclusive Sales and Marketing License
Agreement with BLK CO., LTD (BLK) of Korea.
This term sheet is a significant advancement in the commercialisation of
BluGlass and marks the first steps towards a full customer agreement.
BluGlass, subject to formal documentation, will grant BLK an exclusive
license of its Remote Plasma Chemical Vapour Deposition (RPCVD) technology in
the Korean marketplace for an initial term of two years. The term sheet also
outlines the acquisition of a BLG-150 deposition tool and BLK plans to establish
an RPCVD pilot manufacturing plant in Gwangju Technology Park, the centre of the
light emitting diode (LED) industry in Korea. The company intends to produce
gallium nitride based LEDs on the BluGlass technology to gain access to the
major LED manufacturers of Korea.
‘This comes at a very exciting time in the development of our technology as
the Korean LED marketplace has enormous potential’ BluGlass CEO Giles Bourne
said today. The Korean government is assisting in developing the countries
semiconductor manufacturing capabilities in both LED and solar manufacture. The
government has called the LED industry ‘its next growth engine’ with the
commitment of 540.1billion won1 (AUD 542.5 million) to assist in the
establishment of eco friendly segments such as LED manufacture over the next
five years. The South Korean LED market was worth in excess of USD 1.5 billion
in 2006 and is forecast to reach USD 15 billion by 20152. Gwangju is officially
designated as South Korea’s ‘LED Valley’ and 70 LED companies are slated to set
up shop in the district3. This will involve significant spending on manufacture
capability including the purchase of new deposition tools and equipment to
furbish new fabrication plants.
BLK is a newly established LED company formed in 2008 by CNT International to
accelerate the commercialisation of BluGlass’ unique technology in the rapidly
expanding Korean marketplace. It is headed by a strong LED executive team and is
employing leading experts from the Korean LED industry to establish its
activities and facility. ‘BLK installs great hope in the RPCVD technology, which
it believes has potential to change for the better the manufacturing front of
nitride based semiconductors’ said BLK President, Brian Park today.
BluGlass is furthering negotiations with BLK to establish a Joint Development
Agreement where BLK will participate in the final optimisation of the RPCVD
technology to advance its speed to the mainstream market.
‘The collaboration agreement with BLK is a very exciting opportunity for
BluGlass. BLK has an experienced management and technology team that will
complement the existing capabilities of BluGlass. With the establishment of an
RPCVD manufacturing plant in the centre of the new LED development of Korea, we
are looking forward to great ongoing collaboration with BLK’ said BluGlass CEO
Giles Bourne today.
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