CPS Technologies Corporation Announces Navy SBIR Phase II Award
CPS Technologies (NASDAQ: CPSH) has secured a Phase II SBIR contract from the U.S. Navy Air Systems Command (NAVAIR) worth over $1 million for a 30-month period. The project aims to advance the development of novel metal matrix composites (MMCs) for thermal energy storage, important for the Advanced Anti-Radiation Guided Missile - Extended Range (AARGM-ER) program.
During Phase I, CPS demonstrated the efficacy of aluminum and phase-change materials, including nickel titanium (nitinol), for compact thermal energy storage devices. The University of North Texas will act as a subcontractor in Phase II. Successful completion will enable CPS to apply these composites in aerospace, defense, and automotive sectors.
CEO Brian Mackey noted that the award underscores CPS' commitment to the SBIR/STTR programs and its long-term growth strategy.
- CPS has secured a $1 million Phase II SBIR contract from NAVAIR.
- The project focuses on advancing MMCs for thermal energy storage, important for the AARGM-ER program.
- Successful Phase I demonstration of aluminum and nitinol composites for thermal energy storage.
- Partnership with the University of North Texas for Phase II.
- Potential applications in aerospace, defense, and automotive sectors.
- None.
Insights
CPS Technologies Corporation receiving a
From a financial perspective, this contract provides a steady revenue stream over the next 30 months, which can help stabilize CPS's finances. This funding allows the company to continue its work on metal matrix composites (MMCs) for thermal energy storage, a potentially lucrative technology with applications beyond the military. Investors should note that such government contracts often pave the way for additional funding or larger future contracts.
In the short term, the financial injection is positive, especially for the R&D department. Long-term prospects are also promising as CPS can leverage their advancements in MMCs to create products for the aerospace, defense and automotive sectors.
However, it's important to be cautious. Government contracts can be unpredictable and subject to budgetary constraints or shifts in military priorities. Additionally, operational costs associated with R&D can be high and there may be technological hurdles that could delay progress.
Generally, this contract signals a positive outlook for CPS, reflecting confidence from a significant government entity and opening doors for further business opportunities.
The development of novel metal matrix composites (MMCs) for thermal energy storage is significant from a technological standpoint. MMCs are advanced materials that combine metals with other materials to create composites with superior properties. In this case, the use of aluminum and phase-change materials like nitinol (a nickel-titanium alloy) shows innovation in addressing thermal management challenges.
Nitinol’s unique ability to change phases and store thermal energy efficiently makes it ideal for defense applications where size, weight and reliability are critical. The partnership with the University of North Texas, known for its expertise in nitinol, is likely to enhance the technological strides CPS is making.
The practical implications are broad. Beyond the AARGM-ER program, MMCs have potential applications in avionics, weapons and high-pulse power modules. The technology could significantly improve performance and durability while reducing the weight and size of various systems. These properties are highly valued in aerospace and defense sectors.
While the technological advancements are promising, commercialization will be the real test. Transitioning from development to production, especially in high-stakes fields like defense, involves rigorous testing and validation processes.
NORTON, Mass., June 25, 2024 (GLOBE NEWSWIRE) -- CPS Technologies Corporation (NASDAQ:CPSH) (“CPS” or the “Company”) today announced that it has been awarded a Phase II SBIR contract from the U.S. Navy Air Systems Command (NAVAIR). With funding of more than
“We are very pleased that our novel approach has exhibited the potential to solve a critical technical challenge for the Department of Defense,” said Brian Mackey, President and CEO. “Also, this contract represents our first Phase II award since we recently renewed our commitment to the federal government’s SBIR/STTR programs. It further illustrates CPS’ ability to successfully execute our long-term growth strategy through advanced product development driven by the needs of our customers.”
During the Phase I effort, CPS successfully demonstrated the use of aluminum and phase-change materials – including composites comprised of nickel titanium, also known as nitinol – for compact thermal energy storage devices. The University of North Texas, with expertise in the application of nitinol as a phase change material, will act as a subcontractor during Phase II. Upon successful completion, in addition to supporting the AARGM-ER program, CPS will leverage the aluminum-nickel titanium (Al-NiTi) composites for relevant aerospace, defense, and automotive applications.
Mackey continued, “In response to the customer’s requirements, our MMCs provide cutting-edge thermal energy storage with potential applications that include avionics, weapons, and high-pulse power modules. These CPS composites are lightweight, dimensionally stable materials that can reduce the size and weight of energy storage systems while providing a more durable and easier-to-manage solution relative to legacy materials.”
The mission of the AARGM-ER program is the suppression and/or destruction of enemy air defenses. Its primary targets are mobile, re-locatable integrated air defense targets. AARGM-ER provides long-range, precision strike capability that enables pilots to remain outside of lethal engagement ranges. Advanced thermal energy storage is a key element of long-range strike capability.
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 2024 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
FAQ
What is the recent Phase II SBIR award for CPS Technologies about?
How much funding did CPS Technologies receive for the Phase II SBIR contract?
What is the significance of the CPS Technologies Phase II SBIR contract?
Who is CPS Technologies partnering with for the SBIR Phase II project?
What potential applications do the aluminum-nickel titanium composites have beyond the AARGM-ER program?
