Leadership Transition Announcement

Bifrost Electronics today announced a change in leadership. Zenith Tillemann-Dick, Bifrost’s founding CEO and Board Chair, is departing the company.

“I’ve gotten to know Zen well over the past couple of years,” said Dan Caruso, Managing Director of Caruso Ventures. “The work Zenith has done has been integral to bringing Bifrost from the lab to the market – raising seed funding, securing the core IP, and building the commercial, reputational, and operational foundation that positions the company for its next phase of commercialization. We are grateful for his contributions as founding CEO and Board Chair, and wish him well in his career journey.”

The Board of Directors has appointed Cody Moore as Interim Chief Executive Officer and Chairman of the Board, effective immediately. Mr. Moore serves as Head of Investments at Caruso Ventures and will continue in that role alongside his responsibilities at Bifrost.

Dan Caruso, Managing Director of Caruso Ventures, has served on the Bifrost Board of Directors since the company’s inception and will remain on the Board. Logan Pauli, co-founder of Bifrost, continues to serve as the third member of the Board representing the common shareholders.

“Over the past two weeks, Bifrost’s investors have had the opportunity to meet individually with each member of the Bifrost team as part of the transition,” said Caruso. “Our biggest takeaway is the team’s level of confidence and excitement — in the technology, in the 2026 product rollout, and in the commercial and operational foundation that has been built to support that launch.”

Bifrost’s core technology originated from the work of co-founder Connor Denney while at the Colorado School of Mines. Many members of the Bifrost team collaborated with Connor during this period, forming a strong technical core that continues to drive the company forward.

“Our initial product, the Heimdall Amplifier, is a differentiated enabler across quantum computing, sensing, and defense applications — offering compelling performance and manufacturability advantages over legacy solutions,” said Denney. “We expect to complete our rigorous testing over the next several months, and assuming all goes as well as we expect, we anticipate commercial rollout in the second half of 2026.”

The Board will conduct a thorough search for a permanent CEO to lead Bifrost as it finalizes testing and prepares for commercial rollout of the Heimdall Amplifier. No other changes are anticipated to the Bifrost team.