CPS Technologies secures a $250,000 SBIR contract to develop refractory tungsten alloys for U.S. Army munitions.
Quiver AI Summary
CPS Technologies Corp. has secured a Phase I Small Business Innovation Research (SBIR) contract from the U.S. Army, its second such contract in 2025, focusing on enhancing binder jet additive manufacturing for creating dense refractory tungsten alloys to emulate depleted uranium for military applications. The contract involves a six-month research project valued at $250,000, in collaboration with Texas A&M University for printing trials. Additionally, CPS received its first commercial order, less than $100,000, for radiation shielding materials, which could lead to larger follow-on orders based on successful testing. CEO Brian Mackey highlighted the company's ongoing innovation and commitment to meeting military and market needs.
Potential Positives
- CPS Technologies Corp. has secured a Phase I SBIR contract from the U.S. Army, reinforcing its involvement in government contracts and military applications.
- The partnership with Texas A&M University for the SBIR contract enhances the company's research capabilities and provides access to critical expertise in additive manufacturing.
- CPS has received its first commercial purchase order for radiation shielding materials, indicating a growing interest and potential for market expansion in advanced development initiatives.
- The recent contracts and purchase order signal workforce confidence in CPS’s materials innovation, aligning with the company's strategic goals in defense and clean energy sectors.
Potential Negatives
- The mention of developing materials for military munitions may raise ethical concerns and negative public perception regarding the company's involvement in defense contracting.
- The commercial purchase order for radiation shielding is below $100,000, suggesting limited immediate revenue potential from that order.
- Forward-looking statements suggest uncertainty about the company's future financial results, indicating potential risks and volatility for investors.
FAQ
What is the recent contract awarded to CPS Technologies Corp. about?
CPS Technologies Corp. has been awarded a Phase I SBIR contract from the U.S. Army to optimize binder jet additive manufacturing for tungsten alloys.
How much is the new SBIR contract worth?
The Phase I SBIR contract is valued at $250,000 and will focus on advanced manufacturing techniques.
Who is partnering with CPS for this project?
Texas A&M University will act as a subcontractor, conducting printing trials and providing expertise in binder jet additive manufacturing.
What is the significance of CPS's radiation shielding materials order?
This first commercial order for radiation shielding materials could lead to larger follow-on orders, showcasing market demand for CPS's innovative solutions.
How does CPS contribute to clean energy initiatives?
CPS Technologies produces high-performance materials beneficial for various applications, including those facilitating the transition to clean energy solutions.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$CPSH Insider Trading Activity
$CPSH insiders have traded $CPSH stock on the open market 2 times in the past 6 months. Of those trades, 2 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $CPSH stock by insiders over the last 6 months:
- CHARLES KELLOGG JR GRIFFITH (CFO) has made 2 purchases buying 2,000 shares for an estimated $2,830 and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$CPSH Hedge Fund Activity
We have seen 3 institutional investors add shares of $CPSH stock to their portfolio, and 10 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- AMH EQUITY LTD removed 174,666 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $281,212
- VIRTU FINANCIAL LLC removed 18,266 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $29,408
- DIMENSIONAL FUND ADVISORS LP removed 16,637 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $26,785
- GEODE CAPITAL MANAGEMENT, LLC added 12,903 shares (+13.2%) to their portfolio in Q4 2024, for an estimated $20,773
- RENAISSANCE TECHNOLOGIES LLC added 6,865 shares (+8.6%) to their portfolio in Q4 2024, for an estimated $11,052
- CITADEL ADVISORS LLC added 5,751 shares (+18.3%) to their portfolio in Q4 2024, for an estimated $9,259
- TOWER RESEARCH CAPITAL LLC (TRC) removed 3,101 shares (-64.1%) from their portfolio in Q4 2024, for an estimated $4,992
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
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
cwitty@darrowir.com
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