NUBURU Reports Execution Progress on Tekne’s $17.1 Million Special-Vehicle Program Following Acquisition

Advance invoices represent 20% of the combined contract value, but do not by themselves establish cash received or revenue recognized.

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Approximately $3.4 million in advance invoices issued for more than 200 firefighting and emergency-response vehicles within Tekne’s existing program portfolio

DENVER--(BUSINESS WIRE)-- NUBURU, Inc. (NYSE American: BURU), the next-generation dual-use Defense & Security integrated platform company, today provided an update on procurement and assembly activities under a special-vehicle program valued at approximately $17.1 million (excluding VAT), awarded to Tekne S.p.A. (“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 $3.4 million (excluding VAT) 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 $17.1 million, excluding VAT, across two signed contracts with an Italian public-sector customer serving civil-protection and emergency-response needs.
• Advance invoices issued: approximately $3.4 million, 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 (approximately six and nine months), 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 $3.2 million for additional fire-surveillance vehicles within the same public-sector customer group. It is separate from the $17.1 million 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.

Existing Portfolio and Financial Plan Goals

The $17.1 million program forms part of Tekne’s existing order and program portfolio, with an estimated normalized residual value of approximately $108.7 million. Tekne’s original May 2026 financial plan, attached to the investment agreement submitted in the Golden Power process, projected approximately $652.3 million in cumulative value of production for 2026–2030. These management projections depend on execution of existing programs and securing additional orders, together with the financing and production capacity needed to deliver them. The plan’s value-of-production measure is not equivalent to consolidated US GAAP revenue, and these projections do not represent NUBURU consolidated US GAAP revenue guidance. This update reports execution and advance billings within the existing portfolio and does not add to the aggregate portfolio total.

Tekne was founded in 1990 and employs approximately 185 personnel across facilities in Ortona, Poggiofiorito and Guastalla, Italy, serving defense, civil-protection, public-safety and industrial customers through electronic-warfare capabilities and special-vehicle engineering and manufacturing. NUBURU acquired its 70% controlling interest following authorization by the Italian Government under the Golden Power regime, granted in August 2026.

What Tekne Adds to the Platform

Emergency response is part of the operational-resilience offering of the NUBURU Defense & Security platform, which helps customers prepare for disruption, respond to incidents and maintain essential operations. Tekne’s specialized vehicles and mission equipment give that offering a physical response layer across civilian and defense-related applications. As part of its integration strategy, NUBURU aims to connect these capabilities with Orbit’s orchestration software to support coordinated operational-resilience workflows, subject to technical validation and customer requirements.

The vehicle adaptation, systems integration and field-engineering expertise deployed on this program is the same expertise that underpins Tekne’s defense-mobility capabilities. The same engineering base serves firefighting fleets and defense customers — which is the dual-use model NUBURU’s enlarged platform is built on.

Dario Barisoni, Co-Chief Executive Officer of NUBURU and Chief Executive Officer of NUBURU Defense LLC, said:

“This program demonstrates the operational capabilities Tekne brings to NUBURU’s Defense & Security platform. With a contracted value of approximately $17.1 million and approximately $3.4 million in advance invoices issued before closing, our focus is on supporting execution, meeting customer requirements and progressing through prototype acceptance, delivery and revenue recognition. We aim to build on Tekne’s engineering and manufacturing base as we integrate the group’s capabilities across defense, emergency response and operational resilience.”

US GAAP Revenue Recognition

Amounts billed in advance will be recognized as revenue under US GAAP when or as the related performance obligations are satisfied and control of the promised goods or services transfers to the customer, taking account of any substantive acceptance requirements. This release reports an operating and billing milestone; it does not announce a quantified amount of recognized revenue.

USD amounts are rounded, exclude VAT and use a reference exchange rate of $1.1551 per euro, consistent with the rate used for the previously disclosed portfolio. Actual US GAAP translation rates may differ.

About NUBURU, Inc.

NUBURU, Inc. (NYSE American: BURU) is the next-generation dual-use Defense and Security integrated platform company. NUBURU is developing software-orchestrated, hardware-enabled capabilities for modern defense and security, critical-infrastructure and digital-resilience markets. The group combines operating businesses and technology-development initiatives across:

• directed-energy and non-kinetic technologies, including laser and photonics engineering for industrial and defense applications;
• electronic warfare, including cyber and electromagnetic activities (CEMA), and special-vehicle and defense-mobility programs;
• operational-resilience software, AI-assisted orchestration and analytics; and
• advanced manufacturing, integration, support and deployable-production initiatives.

NUBURU is focused on commercial execution, integrating its capabilities and converting its opportunity pipeline into contractual orders, revenue and sustained business growth. Product-development and integrated mission programs remain subject to technical validation, customer requirements and applicable approvals.

For more information, please visit our website www.nuburu.net and follow us on X https://x.com/nuburulasers.

About NUBURU Defense LLC

A subsidiary of NUBURU, NUBURU Defense supports the group’s Defense & Security platform and holds a 70% controlling interest in Tekne. NUBURU Defense Italy S.r.l. supports the coordination and development of the Italian platform.

For more information on our acquisitions, investments and joint ventures:

• Orbit: www.orbitopenplatform.com — Orbit provides operational-resilience software, risk intelligence, data integration, workflow orchestration and auditability. Its defense deconfliction module remains under development and institutional validation.
• Tekne S.p.A.: www.tekne.it — Tekne serves defense, civil-protection, public-safety and industrial customers through electronic-warfare capabilities, special-vehicle engineering and manufacturing. NUBURU completed its acquisition of a 70% controlling interest on October 15, 2026.
• SunCubes S.r.l.: The group’s collaboration pathway with SunCubes supports exploration of laser power-beaming and optical-communications applications, subject to definitive arrangements, technical validation and applicable approvals.
• Maddox Defense Incorporated Joint Venture: The group’s joint-venture initiative with Maddox Defense supports advanced manufacturing and deployable-production and sustainment opportunities, subject to program development and execution.

About NUBURU Subsidiary, Inc.

A subsidiary of NUBURU, NUBURU Subsidiary, Inc. fully owns Lyocon S.r.l., an Italian laser-technology company specializing in the design, manufacturing and integration of laser systems. Lyocon supports NUBURU’s laser business and the development of dual-use industrial and defense applications.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These include expectations regarding Tekne’s original 2026–2030 value-of-production projections, conversion of commercial opportunities into orders, procurement, assembly and delivery, customer acceptance, collection of billings, US GAAP revenue recognition, further customer programs, future reporting of material execution milestones, synergies, the commercial application of dual-use capabilities, operational resilience, integration and business growth. They reflect current expectations and are not guarantees of future performance. Contract values, portfolio values and advance billings are not measures of recognized revenue or cash received.

Actual results may differ materially because of procurement, assembly and qualification delays; changes in customer requirements; procurement decisions or contract cancellations; supply-chain disruption; working-capital and financing constraints; inability to secure expected new orders or sufficient production capacity; delays in customer acceptance or payment; accounting and acquisition-accounting determinations; integration risks; regulatory, export-control, Golden Power and security requirements; exchange-rate fluctuations; listing-compliance risks; and other factors described in NUBURU’s filings with the Securities and Exchange Commission. Statements speak only as of their date, and NUBURU undertakes no obligation to update them except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20261021023151/en/

NUBURU Investor Relations: ir@nuburu.net
Media Contact: press@nuburu.net
Website: www.nuburu.net

Public Relations & Global Partnerships:
Phoenix MGMT & Consulting
www.PhoenixMGMTconsulting.com
PR@PhoenixMGMTConsulting.com

Source: NUBURU, Inc.

Key Terms

vat financial

A value-added tax (VAT) is a consumption tax charged at each stage of producing and selling goods or services, collected by businesses on behalf of the government. Think of it as a small extra charge added along a supply chain that companies remit to tax authorities; for investors it affects pricing, profit margins, cash flow and regulatory risk because firms must manage collection, reporting and potential refunds across jurisdictions.

us gaap financial

U.S. GAAP is the set of official accounting rules and standards companies in the United States use to record and report their financial results. Like a common recipe book for financial statements, it makes company reports consistent and easier to compare, so investors can better judge profitability, risk and trends when deciding to buy, hold or sell shares.

performance obligations financial

Performance obligations are the specific promises a company makes to deliver goods or services to a customer under a contract, treated as separate deliverables when a customer can benefit from them on their own. Investors care because these promises determine when and how much revenue a company records — like breaking a bundled purchase into separate billable parts — which affects reported earnings, growth trends and the clarity of future cash flows.

revenue recognition financial

Revenue recognition is the accounting rule that determines when a company records a sale as income on its financial statements, which may differ from when cash actually arrives. It matters to investors because the timing and method used can change reported profits and growth, so understanding it is like knowing whether a scoreboard counts goals as soon as they’re scored or only after they’re confirmed — the timing affects comparisons, forecasts, and valuation.