Nuburu announced that it has presented its defense plan for Italy following a Golden Power notification submitted in connection with its planned acquisition of a 70% controlling stake in Tekne S.p.A.
Tekne is an Italian special-vehicles and electronics company. The planned acquisition remains subject to Italian Golden Power authorization and other regulatory approvals.
Nuburu said its Italy-centered defense plan projects approximately $336.3 million in cumulative gross revenue between 2026 and 2029. The annual projection includes approximately $13.1 million in 2026, $74.4 million in 2027, $105.7 million in 2028, and $143.1 million in 2029.
The company said these projections exclude any U.S. go-to-market initiatives, including its Maddox Defense joint venture. Nuburu also noted that the projections are unaudited, not reconciled to U.S. GAAP, and actual results may differ materially.
As part of the plan, Nuburu appointed two senior strategic advisers: Gen. Pietro Serino, former Chief of Staff of the Italian Army, and Prof. Carlo Alberto Carnevale Maffè, Associate Professor of Practice at SDA Bocconi.
The Italian plan includes approximately €15.5 million in capital expenditures from 2026 through 2030. Nuburu also expects the plan to support approximately 372 net new direct full-time employees in Italy by 2030, along with an estimated 500 to 650 additional induced jobs in the Abruzzo region, subject to execution of the plan.
Nuburu also disclosed that it has provided an additional €1 million to Tekne for working capital. This follows an initial €1 million advance made when the share purchase agreement was signed.
The transaction is structured around a fixed €52 million pre-money valuation of Tekne. The structure includes a €29.692 million capital increase, a €5.2 million share purchase, and a revenue-based earn-out equal to 5% of Tekne’s annual revenues from 2027 through 2036, capped at €29.692 million.
Nuburu said the plan is intended to support its defense strategy in Italy while advancing the company’s broader growth initiatives tied to Tekne and defense-related opportunities.
