CPS Technologies Corporation Receives Significant Hermetic Packaging Order from Industry Leading Aerospace Electronics Manufacturer
29 Março 2023 - 10:20AM
CPS Technologies Corporation (NASDAQ:CPSH) announced today that the
company has secured $5.0M in purchase orders for hermetic
packages from a leading Aerospace electronics manufacturer in
support of both U.S. space missions and high-volume production
tactical programs.
CPS provides Class-H and Class-K hermetic packages
subjected to the harshest of environments, such as the Low Earth
Orbit, Medium Earth Orbit, as well as the Geosynchronous Equatorial
Orbit satellites as well as other deep space programs.
CPS offers both off-the-shelf and custom Hermetic
Packaging solutions, providing our customers with flexibility in
materials and bringing the highest levels of reliability across a
variety of applications. CPS’s Aluminum Silicon Carbide (AlSiC)
hermetic packaging brings tremendous value for payload reduction
and reduced launch costs with roughly 50% weight savings over
legacy materials while also meeting MIL-STD-883 and MIL-STD-202
specifications.
Michael McCormack, CPS President and CEO said: “We
are excelling in the execution of our revenue strategy with
hermetic packaging expected to continue to be a growing product
line for us in FY23. Our technical and business development teams
are working together to attract and develop new customers and
expand our reach in the Aerospace and Defense market. These orders
represent a nearly 100% increase over FY22 sales for this customer
and is a direct result of the team’s collective ability to develop
and close a growing pipeline of new business opportunities. Coming
on the heels of our record setting 2022 results, we believe that we
are well on the way to another record setting year for 2023.”
The AlSiC hermetic packaging technology prevents
corrosion from moisture and enables electronic packages to survive
the harshest of environments. CPS products can currently be found
on Mars, used by NASA in their Scanning Habitable Environments with
Raman & Luminescence for Organics & Chemicals instrument,
known as SHERLOC. In addition to the U.S. space
mission, CPS hermetic packaging products are embedded in military
and commercial avionics systems, ground vehicles, marine
applications, and weapons guidance systems.
About CPS CPS is a technology and manufacturing
leader in producing high-performance energy management components
that facilitate the electrification of the economy. Our products
and intellectual property include critical pieces of the technology
puzzle for electric trains and subway cars, wind turbines, hybrid
vehicles, electric vehicles, the smart electric grid, 5G
infrastructure, and others. CPS' armor products provide exceptional
ballistic protection and environmental durability at a very
lightweight. CPS is committed to innovation and to supporting our
customers in building solutions to this planet's problems.
Safe Harbor Statements made in this document that
are not historical facts or which apply prospectively, including
those relating to 2023 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
David Costello (617) 875-2492
david@risingtidemhd.com
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