Nuburu, Inc. (BURU) entered into a Network Contract with Italian defense company Tekne S.p.A., a €13 million convertible loan, and a 2.9 % equity investment. The agreement is designed to unlock defense and dual‑use projects across the Americas, NATO, MENA, APAC, and Italy, with revenue‑sharing mechanisms that are independent of Nuburu’s current equity stake.
The €13 million loan is structured as a shareholder convertible instrument that, if converted, would raise Nuburu’s ownership to approximately 27.9 %. This figure represents a specific conversion scenario; the company’s broader acquisition plan still targets a 70 % controlling interest in Tekne once the Golden Power approvals are secured. The loan’s terms—including interest rate, maturity, and conversion price—have not been disclosed, but the arrangement signals Nuburu’s intent to deepen its stake in the European defense market.
The alliance is a key component of Nuburu’s Transformation Plan, which seeks to pivot the company from its legacy software focus to a high‑growth defense‑tech and security portfolio. By partnering with Tekne, Nuburu gains immediate access to a pipeline of contracts worth more than €10 million and a foothold in multiple regions, providing the first revenue visibility for the company in fiscal 2026. The deal also positions Nuburu to co‑develop technologies that could expand Tekne’s reach into the Americas, creating a new revenue stream for both firms.
Nuburu’s financial position has been precarious, with recent quarterly results showing widening losses and liquidity concerns that prompted a “going concern” warning. The partnership offers a much‑needed infusion of potential revenue and a strategic path to scale, which is critical for a company that has struggled to generate sustainable cash flow. The Golden Power review process remains a regulatory hurdle; any delay could postpone the full realization of the partnership’s benefits.
Executive Chairman Alessandro Zamboni emphasized the strategic significance of the deal, stating, “This joint venture transforms the phased acquisition plan into a revenue‑generating reality. We can now execute contracts, expanding Tekne’s reach into the Americas, and laying the groundwork for co‑developed technologies that can shape the future of allied defense.” He added, “This updated agreement with Tekne marks a pivotal moment for Nuburu as we quickly expand our footprint in the global defense and security market.”
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