Blue Laser Fusion closed a $34 million private placement and alternative public offering. The transaction was completed alongside a reverse merger with Unite Acquisition 2 Corp. The combined company now operates as Blue Laser Fusion, a developer of pulsed laser systems for defense and fusion energy.
Use of proceeds
The company will direct capital toward directed-energy defense prototypes and field testing. It will also advance pulsed laser systems for inertial confinement fusion. Part of the funding will expand optical fabrication and laser assembly capacity in Goleta, California.
Company background
Blue Laser Fusion was founded by Nobel Laureate Dr. Shuji Nakamura and semiconductor laser veterans. The company is headquartered in Goleta, California, and holds more than 140 patents and applications. It has received contracts from the U.S. Department of Energy and the Japan Fusion Moonshot program.
GigaPulse technology
Its GigaPulse laser uses optical enhancement cavity technology to deliver gigawatts of peak power. The company says this is more than 100,000 times the peak power of conventional continuous beam laser sources. The platform supports directed-energy defense and commercial inertial confinement fusion energy.
The financing included an initial closing of $25 million in private placement units. Additional tranches were referenced in the company's forward-looking statements. The company will apply the capital toward defense and energy commercialization.