Semiconductor manufacturing technology company BluGlass (ASX:BLG) has entered into a JV agreement with SPP Process Technology Systems (SPTS).
Under the agreement, BluGlass will receive a $5.2 million cornerstone investment from SPTS, a subsidiary of Sumitomo Precision Products (SPP).
The JV will focus on completing the development and commercialisation of BluGlass' Remote Plasma Chemical Vapour Deposition (RPCVD) technology.
“SPTS is the perfect fit partner for our technology and its commercialisation,” BluGlass CEO Giles Bourne said. “This is a major commercial milestone for BluGlass.