NUBURU Inc (BURU) News & EventsBURUNUBURU Inc

NUBURU Completes Acquisition of 70% Stake in TEKNE

NUBURU highlighted the completion of its acquisition of a 70% controlling interest in TEKNE, its previously reported stockholders' equity position, and its operating priorities as the Company's NYSE American equity compliance plan period approaches its October 29, 2026 deadline. The completed TEKNE acquisition advances NUBURU's transformation into an integrated defense and security technology business. TEKNE brings an established Italian defense manufacturer with approximately 185 personnel across three facilities in Ortona, Poggiofiorito and Guastalla, capabilities spanning specialized vehicles, defense mobility and electronic warfare. The Company's October 22, 2026 commercial update reported categories totaling approximately $96.8 million of remaining order and program value in TEKNE's September operating schedule. This preliminary, unaudited measure covers 100% of TEKNE and includes conditional items; it is not validated signed backlog, recognized revenue or a revenue forecast. Realization depends on program activation where required, production funding, delivery, customer acceptance and collection. With the transaction closed, management's focus is on integration, execution and measurable financial results. Near-term priorities: Advance integration of TEKNE's manufacturing and operating capabilities. Prioritize conversion of orders into deliveries, recognized revenue and cash collections. Develop commercial opportunities across defense mobility, electronic warfare, laser technologies and complementary software. Maintain financial discipline and oversight of capital resources. Provide shareholders with measurable operational and financial updates, including on applicable listing requirements.

NUBURU Appoints Gianluca Trezza as CEO

NUBURU announced the appointment of Gianluca Trezza as Chief Executive Officer and General Manager of TEKNE, effective October 26. The appointment follows NUBURU's acquisition of a 70% controlling interest in Tekne on October 15, and places industrial execution and commercial development at the center of the next phase of integration. Following service in Italy's Guardia di Finanza, where he attained the rank of Major, he held senior leadership roles at ELT Group, a major player in EW and defense industry, across the Middle East, Asia-Pacific and global business development.

NUBURU Updates on $17.1M Project Progress with Tekne

NUBURU provided an update on procurement and assembly activities under a special-vehicle program valued at approximately $17.1M, awarded to Tekne by an Italian public-sector customer. NUBURU completed its acquisition of a 70% controlling interest in Tekne on October 15, 2026. Tekne issued approximately $3.4M in advance invoices on September 30, 2026, before the acquisition closed. NUBURU intends to provide further updates on material execution milestones. Program Value and Execution Contracted value: approximately $17.1M, excluding VAT, across two signed contracts with an Italian public-sector customer serving civil-protection and emergency-response needs. Advance invoices issued: approximately $3.4M, excluding VAT, representing 20% of the combined contract value. Advance billings do not, by themselves, indicate cash received or revenue recognized. Scope: more than 200 vehicles equipped for firefighting and emergency-response applications, with engineering and assembly activities at Tekne's Italian facilities. Delivery schedule: the two contracts provide for delivery within 180 and 270 calendar days, respectively, following formal notification of customer acceptance of the relevant vehicle prototypes, subject to contractual verification procedures, applicable suspensions and any agreed schedule adjustments. Additional program in the order register: Tekne's commercial order register separately identifies a program valued at approximately $3.2M for additional fire-surveillance vehicles within the same public-sector customer group. It is separate from the $17.1M program and is not being added to previously disclosed aggregate portfolio figures in this release. Delivery and revenue recognition remain subject to execution and the applicable contractual and accounting requirements.