Yes, just like with real time Java for embedded targets from PTC and Aicas, it is its own implementation with another GC algorithm, additionally there are runtime APIs for regions/arenas.
Here is the commercial product for which it was designed,
https://reversec.com/usb-armory
A presentation from 2024,
https://www.osfc.io/2024/talks/tamago-bare-metal-go-for-arm-...