- Through the contract, Velo3D will support a high-profile national security initiative
- All Velo3D Sapphire printers are assembled domestically and can produce components up to 600mm in diameter and one meter tall.
- On February 10, the company was chosen as the first qualified additive manufacturing provider to support the U.S. Army's Ground Vehicle Systems Center.
Velo3D, Inc. (VELO) announced on Tuesday that it has secured a multi-year production agreement with a major U.S. defense contractor. The deal, worth $11.5 million, will support a high-profile national security initiative.
The contract will use Velo3D’s Rapid Production Solution (RPS) along with its industrial-scale Laser Powder Bed Fusion (LPBF) technology to manufacture essential components.
Advanced Printing Technology
Velo3D specializes in metal 3D printing, also called additive manufacturing (AM). By relying on additive methods instead of conventional subtractive techniques, the company can produce parts faster and at lower cost.
This technology enables customers in industries such as space, aviation, energy, power generation, and semiconductors to produce critical metal components that were previously impossible to manufacture.
The company’s complete system includes Flow software for print preparation, the Sapphire line of printers, and the Assure quality control platform, all powered by their Intelligent Fusion process.
Velo3D stock traded over 8% lower by Tuesday mid-morning. On Stocktwits, retail sentiment around the stock changed to ‘bearish’ from ‘neutral’ territory the previous day. Message volume changed to ‘low’ from ‘normal’ levels in 24 hours.
Velo3D To Aid U.S. Army Supply Chain Modernization
All Velo3D Sapphire printers are assembled domestically and can produce components up to 600mm in diameter and one meter tall. This capability ensures repeatable precision across the entire Sapphire fleet.
Last week, the company said it was chosen as the first qualified AM provider to support the U.S. Army's Ground Vehicle Systems Center (GVSC).
Under its Cooperative Research & Development Agreement (CRADA) with U.S. Army DEVCOM GVSC, Velo3D will design, test, and validate complex metal components and assemblies to address critical supply chain issues affecting ground combat vehicles and other military systems.
VELO stock has declined by over 28% in the last 12 months.
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