Altechna Invests in Equipment and Facilities: Week in Brief: 06/16/23

Laser technology company NUBURU entered into definitive agreements, primarily with existing investors, to receive a cash infusion of $7.9 million prior to deducting transaction and issuance costs through an offering of convertible promissory notes and warrants to purchase shares of the company’s common stock, each pursuant to a note and warrant purchase agreement entered into by and between the company and the investors. The shares underlying the convertible notes and warrants are subject to a one-year lockup and are expected to be registered for resale on a registration statement on Form S-3 after Feb. 6, 2024.

VILNIUS, Lithuania — Laser systems developer Altechna said that it plans to expand in the U.S. The company’s expansion includes its investment of more than $8.7 million in cleanrooms and technological equipment since 2022.

Altechna has invested more than $8.7 million in cleanrooms and technological equipment since 2022. The company plans to expand in the U.S. Courtesy of Altechna.

MÉRIGNAC, France — Device-Alab, a designer and producer of infrared cameras, electronic susbsystems, and embedded solutions, has rebranded as Photonis Infrared France and will sell its products under the brand Xenics. Device-Alab joined Photonis Group in March 2021. Xenics joined in 2022. Photonis recently announced agreements for Telops and Proxivision to join the group.

PRINCETON, N.J. — Technology product development firm BANC3 was been awarded a multiyear Phase III contract from the U.S. Army Contracting Command to a develop a fire control system for the Mounted Machine Optics that integrates with the high-explosive, dual-purpose airburst ammunition programming unit, using BANC3’s Augmented Reality/Mixed Reality capabilities. Under the contract, BANC3 will develop AR capabilities for integrated fire control systems.

BANC3 Army pre-shot optical threat detection, with integrated laser range finder. Courtesy of BANC3.

RESTON, Va. — Laser Light Companies and Nokia agreed on a $25 million beta program to begin deployment of Laser Light’s global all-optical network. Per the agreement, Laser Light will exclusively use Nokia optical and IP solutions and technologies to enable the first stage of its planned extended ground network system to reach and serve diverse locations. Following the initial beta in Australia, other beta locations are planned for the U.S., Chile, Spain, and Africa later this year. When completed, Laser Light and Nokia’s beta program will operate a meshed global platform connecting five continents, enabling demonstration of advanced data services and the platform to support integration activities ahead of the global commercial network.

SAN JOSE, Calif. — Quanergy Solutions, a provider of 3D lidar solutions, partnered with Convergint, a provider of service-based system integration. Through the collaboration, the companies will design, engineer, and implement various security solutions to provide early detection with higher accuracy and faster response times.

ZURICH — Researchers with Terra Quantum claim to have set a world record for securing long-distance communications with quantum encryption. Terra Quantum successfully sent quantum-secure communication on optical fiber cables over 1032 km at significantly higher data transmission than the previous record (previously 0.0034 bits/s, now 34 bits/s).

LEESBURG, Va. — Photonic computing company Quantum Computing Inc. released its first-in-a-series Reservoir Computer. The portable hardware device is the size of a small power pack. Reservoir computing is a framework for computation derived from recurrent neural network theory, which maps input signals into higher dimensional computational spaces through the dynamics of a fixed, nonlinear system called a reservoir.

CHESHAM, England — Resolve Optics installed and commissioned a vibration test center, adding to its suite of in-house lens testing equipment.

STATE COLLEGE, Pa. — Croptix, a precision agtech platform for in-field early detection of crop health, closed its series seed round. Croptix will use the investment to accelerate development and use of its spectroscopy-based in-field sensing technology. The field-deployable sensor technology, combined with machine learning analytics and AI, screens for crop disease earlier and quantifies nutritional information faster than legacy tests.