(RTTNews) - Velo3D Inc. (VELO), a metal 3D printing technology company, on Monday said it has been awarded a $9.8 million multi-year contract from the Department of War supporting the Defense Logistics Agency.
The five-year Indefinite Delivery Indefinite Quantity contract supports the Joint Additive Manufacturing Acceptability Pilot Parts Program aimed at accelerating adoption of additively manufactured components.
The company said the contract will enable the production of complex metal components to support military readiness and improve supply chain responsiveness.
The award is expected to help address long lead times, limited supplier availability, and supply chain constraints across defense operations.
In the pre-market trading, Velo3D is 10.33% higher at $9.90 on the Nasdaq.
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