This is a 2015 story that I remember reading, then. Google news search shows only a couple articles this year about Rex Computing and only one tiny bit of news, that they're at tapeout. That's probably par for the course for a startup creating product (or prototype) one. http://semiengineering.com/power-centric-chip-architectures/ also a speaking engagement: http://insidehpc.com/2016/01/call-for-papers-supercomputing…
You are correct that we have already taped out, though we haven't made any announcements yet, though will be talking publicly about it in the future with a big focus on the "magic" on the software side. You can read my comments on the Mill architecture elsewhere on HN (not a fan of stack machines), but my biggest disappointment in them is the fact that they have been working on Mill for ~10 years with a team ranging…
To my understanding, the Mill project is not financed. They're enthusiasts working for sweat equity, and are likely going to seek (non-controlling?) investment to finally hit silicon when they're ready.
For the scope of what they're doing, I think it's a defensible enough approach. It's not something that can be created in evolutionary stages; all designs of all parts need to be working together properly for there to be benefit from any part, and it's quite complex while also trying out tons of novel designs.
(and the Mill isn't stack-based or stack-related. It's basically a crossbar of recent ALU/Load results being fed into further ALU/Store inputs in parallel. The belt is just some way to represent the set of recent results.)