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GOLETA, CA - Aeluma, Inc. (NASDAQ:ALMU), a semiconductor company whose stock has surged nearly 300% over the past year according to InvestingPro data, has secured a contract worth up to $1.3 million with the U.S. Navy to advance development of high-speed photodetectors for government and commercial applications, the semiconductor company announced Monday.
The contract includes collaboration with a major global interconnect manufacturer as a proposed subcontractor and support from a top-tier government prime contractor, according to the company’s press release statement. With a market capitalization of $211 million and impressive revenue growth of over 335% in the last twelve months, Aeluma shows promising momentum in its government contracting efforts.
Aeluma specializes in semiconductor technology that combines compound semiconductors with silicon manufacturing scale. The company’s large-diameter wafer platform has demonstrated high-speed photodetectors for optical interconnects that could provide bandwidth scaling for government applications, high-performance computing, and AI infrastructure.
"This award is a clear vote of confidence in Aeluma’s breakthrough technology," said Matthew Dummer, Director of Technology at Aeluma.
The funding aims to accelerate commercialization for commercial markets while meeting requirements for defense and aerospace customers. The company’s technology is designed to be compatible with wafer-scale integration with complementary metal-oxide-semiconductor (CMOS) electronics using advanced packaging.
Aeluma develops semiconductor chips using compound semiconductor materials on large-diameter substrates commonly used for mass-market microelectronics. The company operates from headquarters in Santa Barbara, California, which includes a manufacturing cleanroom.
The company’s stock trades on the Nasdaq under the ticker ALMU. InvestingPro analysis indicates the stock is currently trading above its Fair Value, with strong liquidity metrics including a current ratio of 32.76. Investors can access 13 additional ProTips and comprehensive financial analysis through an InvestingPro subscription.
In other recent news, Aeluma, Inc. has announced a significant contract with the U.S. Department of Energy to develop low-cost shortwave infrared (SWIR) photodetectors. This initiative aims to enhance the commercial viability of SWIR technology across various sectors, including mobile and automotive. The DOE contract will focus on creating scalable, energy-efficient SWIR devices, aligning with Aeluma’s broader commercial strategy. Additionally, Aeluma has set the price for its Nasdaq public offering at $5.25 per share, expected to raise approximately $12 million in gross proceeds. The offering is anticipated to close on March 28, 2025, subject to standard closing conditions. The company plans to use the proceeds for business development, manufacturing advancements, and general corporate purposes. Aeluma’s stock has been approved for listing on the Nasdaq Capital Market, marking a significant milestone for the company. The public offering is made through a prospectus, with the registration statement declared effective by the SEC on March 25, 2025.
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