GlobeNewswire·Jul 29, 2026, 6:38 AM ET

Aeluma and Department of Commerce Sign CHIPS Research & Development Office (CRDO) Letter of Intent for up to $30 Million to Accelerate U.S. Leadership in AI and Advanced Computing

Aeluma, Inc. (NASDAQ: ALMU) signed a letter of intent for up to $30 million in proposed funding under the CHIPS and Science Act administered by the U.S. Department of Commerce.
The funding will support R&D for Aeluma's scalable, non-InP semiconductor manufacturing platform for photonics to address supply chain constraints & enable scaling of high-speed photodetectors & lasers.
This initiative aims to accelerate domestic production for next-generation AI interconnects, network communications, & sensing while strengthening U.S. technology leadership & national security.
Aeluma's technology utilizes large-diameter substrates up to 300mm to bridge compound semiconductor materials with mainstream microelectronics, offering an alternative to expensive & limited InP substrates.
The award is subject to further due diligence, required government approvals, & execution of definitive award documents, with funding structured as an upfront portion & remainder tied to milestones.
Aeluma would issue equity securities to the U.S. Department of Commerce with an aggregate value equal to the award amount upon executing final award documents.
The press release includes forward-looking statements regarding the potential issuance of securities, receipt of funding, & commercialization timelines, noting risks related to government policy, regulatory conditions, & project milestones.