BluGlass Limited is an Australia-based company engaged in the research and development of Group III nitrides for the development of new processes and equipment to manufacture high efficiency devices such as LEDs and solar cells. In July 2012, the BluGlass Board sought to provide the Company with sufficient freedom to explore all commercialization options available to it and moved to buy SPTS interest in the joint venture. The Company holds a number of patents in key semiconductor markets including the United States, China, Europe and Japan. The Company's wholly owned subsidiary is BluSolar. BluSolar is working towards the development of a nitride solar cell using BluGlass� patented manufacturing technology, Remote Plasma Chemical Vapour Deposition (RPCVD).