Shares of Nuburu, Inc (BURU) soared 20% in pre-market trading on Wednesday, after the company began Phase I operations under its joint venture with Maddox Defense, marking a crucial step in its expansion into U.S. defense manufacturing.
Phase I marks the shift from planning to active operations, with the company setting up a climate-controlled unit in Texas to support the development of defence applications, including drone manufacturing.
After Phase I begins, the program will move into full system setup, infrastructure rollout, and early production readiness, Nuburu added.
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