Hi all.
I attended the AGM today and found it both informative and encouraging,without any particular wow moment.Plenty of questions were asked and I believe the answers delivered to be honest and forthright as best as can be expected.
Most encouraging was the customers approaching the technology team and initiating discussion about possible uses for the RPCVD platform in theyre particular field. Most of these new potential applications are in the slide show. I noted that they have employed a UV LED specialist recently and are commencing work in this area as well as the current brighter led milestone work.This new member is a leader in the field and well thought of.
Production runs are now at 100 per week which was pointed out by George as being a marked improvement and a profound ramp up in capability compared to past performance, which should accelerate new ideas and appraisals.
Cannot remember all the questions but the general gist was,where are we at and why are we approaching the problem a certain way?I found Ian Mann very impressive and fully over the technology and its challenges. Ultimately we are heading towards producing a complete LED structure from the MQW upwards and hence eliminating the interface challenge that has currently dogged them.This will be part of the gan on sic development using an RPCVD reactor for the complete application. This is covered by a grant.
Of equal note,I found encouraging that the 2 MOCVD machines that have been retrofitted are from the 2 major manufacturers of equipment (Veeco and Aixtron).The fact that they have been able to retrofit both competitors machines successfully and produce the same results across both has also been noticed by the industry.Ian also intimated that the use of both of these machines was not an accident and may be strategic.
Still no timeframe on any material sales of the technology or when it may be perfected but a considered approach to foundry work and ramping up of this to a 24 hr operation which could improve cash incomings by 2 - 3 mill per year with current equipment.Seemed very encouraged by level of industry interest from this approach and shows the players what they are capable of.
Also encouraged by new involvement of Alan Lie with the company and his involvement in spreading the news throughout Asia,spruiking the new advancements being made to the wider industry of which he is a leading participant.Maybe he can now see that there is something worthwhile to really talk about rather than when he was first involved.
All in all not a turning point in current sentiment but a well thought out presentation that covered a lot of shareholder concerns and gave a much more detailed description of the path forward and the challenges faced.
I must say the dream may still be alive as they do not believe they have missed the opportunity to exploit the openings in the market but in fact the opportunities for this technology just keep expanding as it is further perfected.
At the end of the day it is the goal to have a deposition tool that can do a multitude of applications that MOCVD can never do and once the hurdles are covered the market and the industry will certainly notice.
Sorry for the ramble and any bad punctuation but it has been a long day.I hope this helps and if I think of anything else I will share when awake.
Lectro
BLG Price at posting:
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