CENTENNIAL, Colo. - NUBURU, Inc. (NYSE American: BURU), known for its high-power industrial blue laser technology, has secured an $850,000 Phase II contract from NASA to enhance blue laser power transmission technology, aiming to streamline power management for lunar and Martian missions. This development, announced today, follows a successful Phase I project completed in August 2023.
The company's blue power beaming technology is designed to replace traditional power grids in extraterrestrial environments, eliminating the need for heavy wiring, which is not practical for space transportation. By enabling power distribution to rovers, stations, and habitats, NUBURU's technology could significantly reduce the equipment's size and weight, aligning with NASA's Artemis program goals for a sustainable human presence on the moon.
In Phase II, NUBURU plans to scale up its technology to deliver hundreds of watts of power over kilometers, which could extend to tens of kilometers on the lunar surface. This advancement is poised to address power management challenges not only for space exploration but also for terrestrial applications such as remote power solutions and disaster relief.
Brian Knaley, CEO and CFO of NUBURU, highlighted the potential impact of the blue power beaming technology on various markets, including industrial, medical, and defense sectors. He emphasized that the technology's scalability and efficiency could benefit a wide range of commercial enterprises.
The Small Business Innovation Research (SBIR) program, which funds the research and development of promising technologies, supports this Phase II contract. The program aims to facilitate the commercialization of innovative solutions through a three-phase process.
NUBURU, established in 2015, specializes in the production of industrial blue lasers for welding and manufacturing of metals like copper and aluminum. The company's technology is known for producing high-quality welds at speeds faster than traditional methods.
The information in this article is based on a press release statement from NUBURU, Inc.
InvestingPro Insights
NUBURU, Inc. (NYSE American: BURU) has made headlines with its innovative blue laser technology and recent contract with NASA, but what do the financials reveal about the company's standing? According to InvestingPro data, NUBURU has a market capitalization of $8.49 million and has experienced a notable revenue growth of 44.79% in the last twelve months as of Q4 2023. However, this growth is contrasted by a quarterly revenue decline of 13.83% in Q4 2023, indicating some volatility in the company's revenue stream.
InvestingPro Tips suggest caution for potential investors, highlighting that NUBURU operates with a significant debt burden and may have trouble making interest payments on its debt, which is a critical factor considering the company's ambitious technological developments. Additionally, the company's gross profit margin stands at an alarming -129.94%, suggesting that despite increasing revenues, profitability remains a significant challenge.
It's not all grim, though; NUBURU has shown a strong return over the last month, with a 36.9% price total return, and over the last three months, with a 49.64% return. These recent upticks could be a sign of growing investor confidence in the company's market potential, especially in light of the recent NASA contract.
For those considering an investment in NUBURU, it's worth noting that the company does not pay a dividend to shareholders, which may influence decisions for income-focused investors. To explore further insights and gain access to additional InvestingPro Tips, interested readers can visit https://www.investing.com/pro/BURU. There are 16 additional tips available on InvestingPro, which could help form a more comprehensive view of NUBURU's potential risks and opportunities.
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