Aeluma Secures Up to $30M CHIPS Act Funding LOI
Aeluma, Inc. announced it has signed a letter of intent (LOI) for up to $30 million in proposed funding under the U.S. CHIPS and Science Act. This award will support the research and development of Aeluma’s scalable, non-InP semiconductor manufacturing platform for photonics, a critical technology for AI, advanced computing, and national security. The funding aims to accelerate the commercialization of Aeluma's high-performance semiconductors, leveraging its facilities in Goleta, California, and partner sites within the U.S. The award is contingent on further due diligence, government approvals, and the execution of definitive award documents, with Aeluma expected to issue equity securities to the U.S. Department of Commerce.
Key Highlights
- Aeluma signed an LOI for up to $30 million in funding under the CHIPS and Science Act.
- Funding will support R&D of Aeluma's scalable, non-InP semiconductor manufacturing platform for photonics.
- The award aims to accelerate development and commercialization of the platform for AI and advanced computing.
- Aeluma's technology addresses supply chain constraints by using alternative, larger diameter substrates.
- The funding is subject to due diligence, government approvals, and execution of definitive award documents.
- A portion of the award will be funded upfront, with the remainder milestone-based.
- Aeluma would issue equity securities to the U.S. Department of Commerce equal to the award amount.
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