NG:DEV.TEAM is a German video game development company founded and held by Timm and René Hellwig, most known for having released unlicensed games for the NeoGeo AES, MVS and CD.
It is unknown if the Hellwig brothers actively participated in the development on the cartridges and programmer, or if an independent design office was contracted.
The cartridges are flash-based, and edge programmable with the addition of a ribbon cable for /WE and /CE signals with a custom made programmer visible in a picture from [NG:DT's Facebook account].
The PROG boards host 3.3V flash for P and PCM-A only, along with a huge LPC2468F NXP microcontroler and other chips such as Cypress dual port RAM and Xilinx CPLDs, depending on versions.
The CHA boards are only made of flash and buffer chips. All the boards are 4 layers.
The programmer hosts a similar NXP microcontroller, 2 Xilinx Spartans for signal routing and one slot for each kind of board (AES/MVS). It is apparently able to program AES and MVS boards from files on a SD card, or via USB.
Production cost estimation: