Aeluma Signs Letter of Intent for up to $30M in CHIPS Act R&D Funding

Aeluma, Inc. announced it has signed a non-binding Letter of Intent (LOI) with the U.S. Department of Commerce for up to $30 million in proposed funding under the CHIPS and Science Act. The funding is intended to accelerate the research, development, and commercialization of Aeluma's scalable semiconductor manufacturing platform for photonics, which is crucial for AI, advanced computing, and national security.

Key Details

• Proposed Funding: A Letter of Intent for up to $30 million, administered by the CHIPS Research and Development Office (CRDO).
• Purpose of Funds: To advance the company's scalable, non-InP (Indium Phosphide) substrate technology for photonic components, addressing supply chain constraints and enabling domestic production for AI interconnects and network communications.
• Contingencies: The final award is subject to the completion of due diligence, necessary approvals, and the execution of definitive agreements. The LOI contemplates a milestone-based award structure.