BluGlass (ASX: $BLG) Q3 FY24 update and MoU with Applied Energetics

BluGlass Limited (ASX: $BLG) has released its Q3 FY24 update, reporting a Memorandum of Understanding (MoU) with Applied Energetics to develop advanced laser systems for next-generation military and commercial applications. The company also raised $10.17 million in a well-supported Placement and SPP to expedite visible laser delivery for new and existing contracts.

CEO Jim Haden on BluGlass' collaboration with Applied Energetics

This collaboration combines our highly complementary laser technologies and capabilities to address innovative new market segments where neither company can compete individually. Laser technology is increasingly playing a larger role within modern military and national security strategies, where application size, weight, and power are critical. Brighter, better-performing visible lasers have the potential to significantly reduce these key parameters in next-generation solutions while also unlocking a new era of exploratory technologies. While this collaboration is in its infancy, our work with Applied Energetics has numerous commercial and technical benefits, further strengthening our presence within the US government and intelligence communities, and advancing our next-generation product roadmap.

BluGlass (ASX: $BLG) Q3 FY24 update and outlook

BluGlass (ASX: $BLG) has made significant progress in its collaboration with Applied Energetics to develop advanced laser systems for military and commercial applications. The company's focus on next-generation product development and partnerships align with its technical and commercial roadmaps, enabling it to differentiate its visible laser offering, bring innovative products to market quicker, and build industry credibility. With a successful fundraise and anticipated product and project sales, BluGlass is confident in its ability to meet its operational objectives and continue its growth strategy in Q4 FY24.