Project S-11

[Source]
 Heatbeat and Purple Motion's Gameboy Tracker
 music folders at Modland
( ftp://ftp.modland.com/pub/modules/
  Gameboy%20Tracker/Heatbeat/        )
( ftp://ftp.modland.com/pub/modules/
  Gameboy%20Tracker/Purple%20Motion/ )
 Aleksi Eeben's Project S-11 playlist on
 YouTube
( https://www.youtube.com/playlist?list=
  PLnp9pOdg0UnRRrOkYca32NFkQ2YZa_WNB     )
[Generator]
 NEZplug v0.9.4.8 + 2 + 19.20
 (modded by Valley Bell)

"Project S-11" was created by Paragon 5, a
company that recruited demosceners, but only
barely released in North America by Sunsoft,
with the result that most missed a technical
marvel on the Game Boy Color. Fast shmup action
with no flicker is nothing to sneeze at!

Neither is this soundtrack, written by
demoscene legends Heatbeat (Aleksi Eeben) and
Purple Motion (Jonne Valtonen) using the
Gameboy Tracker that was later used to write
the soundtrack of "Shantae". It brings
instrumentation out of the Game Boy's sound
chip that was never heard before, and would be
heard again on the first of Shantae's many
adventures.
It builds up to a powerful shmup soundtrack for
a Game Boy game.

Enjoy!

— The Golden Horse

Source: VGMRips