Aeluma Wins $11.717 Million DARPA Contract for Nano-Scale Semiconductors

Award to Develop Heterogeneous Integration Technology Compatible with Leading Edge and Future Advanced-Node Semiconductors

Technology Applications Include AI, Mobile Devices and 5G/6G

Aeluma Partnering with Teledyne Scientific Company and University of California Santa Barbara

GOLETA, CA / ACCESSWIRE / September 18, 2024 / Aeluma, Inc. (OTCQB:ALMU), a semiconductor company specializing in high performance, scalable technologies for mobile, automotive, AI, defense & aerospace, communication and quantum computing, announced today that it has been awarded funding from the Defense Advanced Research Projects Agency (DARPA) to develop heterogeneous integration technology compatible with leading edge and future advanced-node semiconductors with potential applications in AI, mobile devices and 5G/6G wireless communication.

Aeluma Founder and CEO, Jonathan Klamkin, Ph.D. commented, "This award from DARPA provides significant, non-dilutive R&D funding and has ambitious goals relevant to our commercialization efforts." Dr. Klamkin continued, "The successful outcomes in heterogeneous integration would be transformational for the broad semiconductor microelectronics industry."

DARPA aims at high performance, nanometer-scale components that are compatible with leading edge and future advanced-node semiconductor manufacturing processes under this new program, Material Synthesis Technologies for Universal and Diverse Integration Opportunities (M-STUDIO). These themes are synergistic with Aeluma's mission to solve challenging problems by scaling high performance semiconductors with mass market microelectronics manufacturing.

"DARPA's decision to invest in Aeluma's scalable semiconductor platform demonstrates confidence in our technology and its potential to improve emerging end products," said Aeluma's Director of Technology, Matthew Dummer, Ph.D. "We believe this contract, along with the multiple other contract investments we have received, will accelerate Aeluma's business traction."

DARPA, as described on its website, explicitly reaches for transformational change instead of incremental advances. Notable examples include not only significant military capabilities such as precision weapons and stealth technology, but also icons of modern civilian society such as the Internet, automated voice recognition and language translation, and Global Positioning System (GPS) receivers small enough for consumer devices.

This DARPA contract to Aeluma is structured with $5.974 million provided over 18 months, and the $5.743 million balance provided over the following 18 months as Aeluma meets certain milestones. Teledyne Scientific Company, the Central Research Laboratory of Teledyne, is a proposed subcontractor to assist with defining target materials and with developing strategies for demonstrating program metrics. The University of California Santa Barbara is also a proposed subcontractor to support the implementation of test devices.

Aeluma previously announced awards from the Navy, the Office of Secretary of Defense and the Department of Energy to apply its technology to defense & aerospace, quantum computing, energy, and communication applications. The latest award from DARPA represents a major step toward advancing Aeluma's technology and applying it to advanced-node semiconductors, which is a primary focus of the CHIPS and Science Act.

About Aeluma, Inc.

Aeluma (www.aeluma.com) develops novel optoelectronics for sensing and communication applications. Aeluma has pioneered a technique to manufacture semiconductor chips using high performance compound semiconductor materials on large-diameter substrates that are commonly used for mass-market microelectronics. The technology has the potential to enhance performance and scale manufacturing, both of which are critical for emerging applications. Aeluma is developing a streamlined business model from its headquarters in Santa Barbara, California that has a state-of-the-art manufacturing cleanroom. Its transformative semiconductor chip technology may impact a variety of markets including automotive LiDAR, mobile, defense & aerospace, AR/VR, AI, quantum, and communication. Aeluma differentiates itself with unique semiconductor manufacturing capability, proprietary technology, the ability to perform rapid prototyping, and a broad set of product offerings.

Forward-Looking Statements

All statements in this press release that are not historical are forward-looking statements, including, among other things, statements relating to the Company's expectations regarding its market position and market opportunity, expectations and plans as to its product development, manufacturing and sales, and relations with its partners and investors. These statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections regarding its business, operations and other similar or related factors. Words such as "may," "will," "could," "would," "should," "anticipate," "predict," "potential," "continue," "expect," "intend," "plan," "project," "believe," "estimate," and other similar or related expressions are used to identify these forward-looking statements, although not all forward-looking statements contain these words. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and assumptions that are difficult or impossible to predict and, in some cases, beyond the Company's control. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update information in this release to reflect events or circumstances in the future, even if new information becomes available.

Company Contact:

Aeluma, Inc.
(805) 351-2707
info@aeluma.com

Investor Contact:

Bishop IR
Mike Bishop
(415) 894-9633
ir@aeluma.com

SOURCE: Aeluma, Inc.

Released September 18, 2024