NUBURU Selected by U.S. Department of Defense for Position on Contract for High Energy Laser Systems
April 05 2023 - 8:30AM
Business Wire
NUBURU, Inc. (“NUBURU” or the “Company”) (NYSE American: BURU),
a leading innovator in high-power and high-brightness industrial
blue laser technology, today announced that it has been selected by
the U.S. Department of Defense (DOD) for a position on the multiple
award Indefinite Delivery/Indefinite Quantity (IDIQ) contract for
the fabrication and delivery of prototypes and equipment in support
of solid-state high energy laser (HEL) weapon systems.
“NUBURU has the ability to manufacture laser diode, fiber optic
and optical subsystems in the U.S. making us well positioned to
support the DOD with its needs regarding this critical
next-generation national security issue,” said Dr. Mark Zediker,
CEO and Co-Founder of NUBURU. “We are proud to use our automated
manufacturing capabilities and a workforce entirely based in the
U.S. to provide high-power laser subsystems for our customers.”
As one of seven companies selected, NUBURU is eligible to
participate in the firm-fixed-price,
indefinite-delivery/indefinite-quantity, multiple award contract
with a maximum ceiling of $75 million. The other selected companies
include divisions of Rolls-Royce, General Atomics, Dynetics, II-VI,
Lockheed Martin, and nLIGHT. The location percentages are currently
unknown and will be determined at the delivery order level. Work is
expected to be completed by March 2028. The Naval Surface Warfare
Center Dahlgren Division, Dahlgren, Virginia, is the contracting
entity. For additional details, please see the U.S. Department of
Defense announcement here.
NUBURU is based in Centennial, Colorado where it conducts
research, development, design and manufacturing of its high-power
blue lasers.
NUBURU has not included any potential revenue from this new
contracting vehicle in the 2023 forecast that it released on March
21, 2023.
About NUBURU
Founded in 2015, NUBURU, INC. (NYSE American: BURU) is a
developer and manufacturer of industrial blue lasers that leverage
fundamental physics and their high-brightness, high-power design to
produce faster, higher quality welds and parts than current lasers
can provide in laser welding and additive manufacturing of copper,
gold, aluminum and other industrially important metals. NUBURU’s
industrial blue lasers produce minimal to defect-free welds that
are up to eight times faster than the traditional approaches — all
with the flexibility inherent to laser processing. For more
information, please visit www.nuburu.net.
Forward-Looking Statements
This press release contains certain “forward-looking statements”
within the meaning of the United States Private Securities
Litigation Reform Act of 1995, Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended, including certain financial forecasts and
projections and revenue generated under an awarded contract. All
statements other than statements of historical fact contained in
this press release may be forward-looking statements. Some of these
forward-looking statements can be identified by the use of
forward-looking words, including “may,” “should,” “expect,”
“intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,”
“plan,” “seek,” “targets,” “projects,” “could,” “would,”
“continue,” “forecast” or the negatives of these terms or
variations of them or similar expressions. All forward-looking
statements are subject to risks, uncertainties, and other factors
which could cause actual results to differ materially from those
expressed or implied by such forward-looking statements. All
forward-looking statements are based upon estimates, forecasts and
assumptions that, while considered reasonable by NUBURU and its
management, are inherently uncertain and many factors may cause the
company’s actual results to differ materially from current
expectations which include, but are not limited to: (1) the ability
to continue to meet the security exchange’s listing standards; (2)
failure to achieve expectations regarding its product development
and pipeline; (3) the inability to access sufficient capital to
operate as anticipated; (4) the inability to recognize the
anticipated benefits of the business combination, which may be
affected by, among other things, competition, the ability of the
company to grow and manage growth profitably, maintain
relationships with customers and suppliers and retain its
management and key employees; (5) changes in applicable laws or
regulations; (6) the possibility that NUBURU may be adversely
affected by other economic, business and/or competitive factors;
(7) the inability to obtain financing from Lincoln Park Capital;
(8) volatility in the financial system and markets caused by
geopolitical and economic factors; (9) work under the contract
primarily being awarded to the other companies selected; and (10)
other risks and uncertainties set forth in the sections entitled
“Risk Factors” and “Cautionary Note Regarding Forward-Looking
Statements” in NUBURU’s most recent periodic report on Form 10-K or
Form 10-Q and other documents filed with the Securities and
Exchange Commission from time to time. These filings identify and
address other important risks and uncertainties that could cause
actual events and results to differ materially from those contained
in the forward-looking statements. Nothing in this press release
should be regarded as a representation by any person that the
forward-looking statements set forth herein will be achieved or
that any of the contemplated results of such forward-looking
statements will be achieved. You should not place undue reliance on
forward-looking statements, which speak only as of the date they
are made. NUBURU does not give any assurance that it will achieve
its expected results. NUBURU assumes no obligation to update or
revise these forward-looking statements, whether as a result of new
information, future events or otherwise, except as otherwise
required by applicable securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20230405005298/en/
NUBURU - Media Contact Brian Knaley ir@nuburu.net
NUBURU - Investor Relations Contact Maria Hocut
Maria@blueshirtgroup.com
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