Also secures first commercial order for radiation shielding materials
NORTON, Mass., Feb. 27, 2025 (GLOBE NEWSWIRE) — CPS Technologies Corp. (NASDAQ:CPSH) has been awarded a new Phase I Small Business Innovation Research (SBIR) contract from the U.S. Army, marking its second such contract in 2025. Beginning in early March, CPS will focus on optimizing binder jet additive manufacturing to produce highly dense refractory tungsten alloys with complex geometries. These alloys are designed to replicate the properties of depleted uranium for potential future use in military munitions. The six-month research effort is valued at $250,000. Texas A&M University will serve as a subcontractor, conducting printing trials and providing critical expertise in binder jet additive manufacturing.
In addition, CPS has received its first commercial purchase order for the continued development of radiation shielding materials. This order supports a customer’s advanced development program. Although the order is under $100,000, successful results from tests meeting program requirements could lead to follow-on orders of increasing magnitude. CPS expects to fulfill this order in 2025.
CEO Brian Mackey commented, “We’re thrilled to continue expanding our product portfolio at CPS. The purchase order for our radiation shielding is a testament to the potential of our innovative designs to support advanced development initiatives. Even though we started our Phase II development effort just six months ago, with ongoing SBIR funding from the Department of Energy, this order affirms the market demand for lightweight, effective radiation shielding. Moreover, our latest Phase I SBIR contract represents our second in as many months, both supporting the U.S. Army’s material needs, particularly for advanced munitions. Our commitment to developing new materials that meet demanding market needs continues to bear fruit.”
About CPS
CPS is a technology and manufacturing leader in producing high-performance materials solutions for its customers. The company’s products and intellectual property address critical needs in a variety of applications, including electric trains and subway cars, wind turbines, hybrid vehicles, electric vehicles, Navy ships, the smart electric grid, 5G infrastructure and others. CPS hermetic packages can be found in many Aerospace and Satellite applications. CPS’ armor products provide exceptional ballistic protection and environmental durability at very light weight. CPS is committed to innovation and to supporting our customers in building solutions for the transition to clean energy.
Safe Harbor
Statements made in this document that are not historical facts or which apply prospectively, including those relating to 2025 financial results, are forward-looking statements that involve risks and uncertainties. These forward-looking statements are identified by the use of terms and phrases such as “will,” “intends,” “believes,” “expects,” “plans,” “anticipates” and similar expressions. Investors should not rely on forward-looking statements because they are subject to a variety of risks and uncertainties and other factors that could cause actual results to differ materially from the company’s expectation. Additional information concerning risk factors is contained from time to time in the company’s SEC filings, including its Annual Report on Form 10-K and other periodic reports filed with the SEC. Forward-looking statements contained in this press release speak only as of the date of this release. Subsequent events or circumstances occurring after such date may render these statements incomplete or out of date. The company expressly disclaims any obligation to update the information contained in this release.
CPS Technologies Corporation
111 South Worcester Street
Norton, MA 02766
www.cpstechnologysolutions.com
Investor Relations:
Chris Witty
646-438-9385
[email protected]
