Elyton Monthly Update #3

FreeFORM Technologies: Advancing a potential ~$30k/month production pilot opportunity to finish up to 1,000 metal-AM gun muzzles per month.

New LOIs: Toured and interviewed 15 metal manufacturers and potential customers this month, resulting in 2 additional LOIs with meaningful follow-on revenue potential.

Scalable Production Platform: Building a compact, cost-efficient RPECM platform designed to fulfill initial customer contracts and scale into future production systems. Pics below :)

V3 Hardware: Developing a higher-current, higher-precision PCB suite alongside custom precision gantries and multi-axis motion hardware.

Pre-Seed: Raising a $500,000 pre-seed round.

Angel Investor Tax Credit: Qualified for Connecticut’s Angel Investor Tax Credit program, providing eligible investors a 25% state tax credit on qualifying Elyton investments.

Accelerators: Applied to Y Combinator and HAX.

Non-Dilutive Support: Applied to Connecticut Innovations’ SSBCI technical assistance program for $25,000 in legal support.

Investor Pass: Dorm Room Fund has decided not to move forward with the investment, citing uncertainty, competition concerns, and the current economic landscape, despite strong feedback on our technical progress and multi-axis approach.

Facility: Our current UConn TIP space is becoming inadequate for scaled manufacturing. We are evaluating alternatives after being offered a lease extension for Elyton that requires rent plus 3% equity.

Advance the FreeFORM opportunity toward a defined paid pilot/production agreement.

Complete and test major components of the V3 production platform.

Continue converting manufacturer interviews into LOIs and paid opportunities.

Identify a 2,000+ sq. ft. facility with 3-phase power and a loading dock.

Progress the $500,000 pre-seed raise.

Introductions to machine shop owners, operators, and manufacturing businesses.

Connections across aerospace, defense, and metal additive manufacturing.

Advice from people familiar with AS9100, NADCAP, and manufacturing quality systems.

Introductions to investors interested in advanced manufacturing, industrial automation, or hard tech.

Leads on 2,000+ sq. ft. industrial space with 3-phase power and loading access in Connecticut, preferably near Storrs.