SCI Engineered Materials, Inc. Announces Manufacturing Agreement with Battle Sight Technologies
SCI Engineered Materials announced a five-year manufacturing agreement with Battle Sight Technologies to produce ColdFIRE® powder for defense applications. ColdFIRE® is a photoluminescent powder that provides a bright infrared glow for over 12 hours and is used in coatings, films, and other materials for tactical equipment. It requires no batteries or electronics, recharges quickly, and does not alter original form factors. This agreement is expected to enhance SCI's presence in the defense industry, utilizing existing equipment and capabilities to support safety and first responder applications.
- SCI Engineered Materials has secured a five-year manufacturing agreement, ensuring long-term revenue.
- Expansion into the defense industry aligns with SCI's strategic growth markets.
- Utilizes existing equipment, potentially minimizing additional capital expenditure.
- ColdFIRE® product offers unique features such as no battery requirement and rapid recharge, enhancing its market appeal.
- The agreement does not specify financial details or projected revenue, making it hard to gauge the financial impact.
- Dependence on a single product (ColdFIRE®) for this agreement could pose a risk if demand fluctuates.
- The press release lacks information on potential production costs or margins, which could affect profitability.
COLUMBUS, OH / ACCESSWIRE / June 4, 2024 / SCI Engineered Materials, Inc. ("SCI") (OTCQB:SCIA), today reported a five-year manufacturing agreement with Battle Sight Technologies to produce ColdFIRE® powder for defense applications.
ColdFIRE® is a unique, photoluminescent powder which provides a bright infrared glow that lasts more than 12 hours. It is utilized in coatings, films, paints, plastics and other materials for clothing, tactical equipment, and machinery night vision optimized to support no-light/low-light missions. ColdFIRE® does not require batteries or electronics and recharges rapidly in natural or artificial light for continual reuse. End-use products have no incremental weight considerations and require no modifications to original form factors.
Jeremy Young, President, and Chief Executive Officer commented, "This manufacturing agreement is expected to extend SCI's presence in the defense industry, which is one of our strategic growth markets. We will utilize the Company's existing equipment and unique capabilities to produce the ColdFIRE® powder that will be used in a wide range of defense, safety and first responder applications."
"SCI's focus on quality and speed to market makes them our trusted supply chain partner for ColdFIRE® production ensuring we can meet the product needs of our global defense customers," stated Nick Ripplinger, President, Battle Sight Technologies, LLC.
About SCI Engineered Materials, Inc.
SCI Engineered Materials is a global supplier and manufacturer of advanced materials for PVD thin film applications who works closely with end users and OEMs to develop innovative, customized solutions. Additional information is available at www.sciengineeredmaterials.com or follow SCI Engineered Materials, Inc. at:
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About Battle Sight Technologies
Battle Sight Technologies, headquartered in Dayton, Ohio, is a service-disabled and veteran-owned, defense products company focused on the warfighter and various mission sets including Survival, Personnel Recovery, Isolated Persons, Combat Search and Rescue, Combat Resupply and Close Quarters Battle mission set.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Those statements include, but are not limited to, all statements regarding intent, beliefs, expectations, projections, customer guidance, forecasts, plans of the Company and its management. These forward-looking statements involve numerous risks and uncertainties, including without limitation, other risks and uncertainties detailed from time to time in the Company's Securities and Exchange Commission filings, including the Company's Annual Report on Form 10-K for the year ended December 31, 2023. One or more of these factors have affected and could affect the Company's projections in the future. Therefore, there can be no assurances that the forward-looking statements included in this press release will prove to be accurate. Due to the significant uncertainties in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company, or any other persons, that the objectives and plans of the Company will be achieved. All forward-looking statements made in this press release are based on information presently available to the management of the Company. The Company assumes no obligation to update any forward-looking statements.
Contact:
Robert Lentz
(614) 439-6006
SOURCE: SCI Engineered Materials, Inc.
View the original press release on accesswire.com
FAQ
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