Calumet Electronics (Calumet), a leading American printed circuit board manufacturer, is pioneering the domestic production of advanced packaging substrates. The current development and onshoring of this technology are the direct result of a strategic partnership with Schmid Group (Schmid), a top global solutions provider for the high-tech electronic, photovoltaics, glass, and energy systems industries. This collaboration marks a significant step in advancing substrate technology within the United States (US) and complements the recent government grant awarded to Calumet by the US Department of Defense under DPA Title III.

Through this strategic partnership, Calumet and Schmid are working collaboratively to scale domestic production capacity for advanced substrates. Schmid is providing innovative equipment, while Calumet is taking the lead in expanding its manufacturing capabilities. Together, they are aligning their efforts with construction milestones to establish the first-ever US-based advanced substrate facility.

Key Highlights:

1. Dedicated US-Based Advanced Technologies Facility: Calumet is currently standing up a 60,000 sq. ft. state-of-the-art manufacturing facility dedicated to advanced substrate production. This landmark facility represents a significant milestone as the first of its kind in the US, poised to advance substrate technology and enhancing the nation’s capabilities in advanced packaging.
2. Enabling Next-Gen Technology: The project will implement cutting-edge process and production technology, enabling the production of mSAP, SAP and (ET) embedded trace on a single versatile platform.
3. Environmental and Fiscal Responsibility: Calumet and Schmid’s R&D teams are collaborating across enterprises to develop a modular, space-efficient approach that maximizes environmental conservation, process efficiency, and cost savings while minimizing costly cleanroom footprints.
4. Substantial Capital Investment: The project is projected to attract a total capital investment of nearly $50 million. This substantial investment underscores the dedication to strengthening the US supply chain for microelectronics and printed circuit boards.
5. Government Support: Calumet received a significant investment from the US Department of Defense, which awarded them $39.9 million via the DPA Title III Program. This grant empowers Calumet, in collaboration with Schmid, to enhance manufacturing capabilities and contribute to national security.
6. Workforce Development: The partnership between Calumet and Schmid is driving technological advancements while focusing on upskilling the US workforce. By establishing advanced packaging and substrate manufacturing within the US, this collaboration creates sustainable jobs and strengthens domestic expertise.

At the forefront of the next-gen technology, advanced packaging and substrates are driving advancements in miniaturization, integration, performance, thermal management, high frequency capabilities, speed, and energy efficient components and systems. Engineered to cater to the specific requirements of high-performance systems, advanced substrates play a pivotal role in enhancing functionality and efficiency. This is poised to shape the future of advanced packaging technology in the US, uniting these two industry leaders for this purpose.

“The partnership between Calumet and Schmid signals a significant leap forward in advanced packaging and substrate technology, further enhancing the United States’ competitive position in the global market,” affirmed Stephen Vairo, President, and Chief Executive Officer of Calumet Electronics.

Christian Schmid, Schmid Group Chief Executive Officer, added “We are pleased to partner with Calumet to streamline the traditional lab-to-fab transition, in alignment with our shared mission as innovators and sustainable partners to the industry. We will create a lighthouse project in Calumet for the reshoring of technology and production to the US.”

Schmid, together with its consolidated subsidiaries, is currently in the process of pursuing a business combination with Pegasus Digital Mobility Acquisition Corp. (“Pegasus”, NYSE: PGSS), a special purpose acquisition company formed by StratCap, LLC that is expected to result in Schmid becoming a publicly listed company in New York.

For more information: www.schmid-group.com; www.calumetelectronics.com; www.pegasusdigitalmobility.com

FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute "forward-looking statements." All statements other than statements of historical fact included in this press release are forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the "Risk Factors" section of the Company’s registration statement and final prospectus for the offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

About Pegasus Digital Mobility Acquisition Corp.

The Company is a blank check company incorporated as a Cayman Islands exempted entity. The Company was founded by StratCap, an investment management organization focused on digital economy investments. The Company is a special purpose acquisition company formed for the purpose of effecting a business combination with one or more businesses.

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