Velo3D joins U.S. Army initiative to advance aluminum manufacturing

FREMONT, Calif. - Velo3D, Inc. (NASDAQ:VELO), trading at $3.89 with a significant 79.58% decline over the past year, announced Monday its participation in a U.S. Army-funded initiative focused on developing high-throughput, cost-effective additive manufacturing processes for Aluminum CP1 in defense applications. According to InvestingPro, the stock has seen notable volatility, trading between $1.42 and $29.25 over the past 52 weeks.

The metal 3D printing technology company is collaborating with RTX and the Raytheon Technologies Research Center to create an optimized laser powder bed fusion process that supports the Army’s Integrated Air and Missile Defense modernization priorities. With average daily trading volume of 230,000 shares and a year-to-date decline of 61.58%, investors seeking deeper insights into VELO’s financial health and growth prospects can access comprehensive analysis through InvestingPro’s extensive metrics and expert commentary.

The initiative, funded by the U.S. Army Combat Capabilities Development Command Aviation & Missile Center and Manufacturing & Sustainment program, aims to leverage Velo3D’s large-format additive manufacturing technology to establish a repeatable process that can scale across programs and facilities.

"Velo3D’s metal AM platform was selected by (DEVCOM) AvMC and M&S for its differentiated capabilities that overcome the traditional constraints of legacy L-PBF systems," said Dr. Arun Jeldi, CEO of Velo3D.

Lee Barber, Raytheon Additive Manufacturing Materials Lead at RTX, noted that "additive manufacturing is pivotal to building a resilient and agile defense supply chain."

The project also seeks to establish an Installation and Operational Qualification framework to replace traditional point-qualification methods, potentially laying groundwork for distributed manufacturing across the Department of Defense and its supplier ecosystem.

This collaboration aligns with the Army’s focus on strengthening the domestic industrial base through partnerships that accelerate advanced manufacturing capabilities for military applications, according to the company’s press release statement.

In other recent news, Velo3D has secured a $6 million contract to develop a copper nickel alloy for its Sapphire 3D printers. This initiative is part of the U.S. Navy Maritime Industrial Base Program, aimed at speeding up ship repairs. The contract involves qualifying the alloy for use in Velo3D’s large-format Laser Powder-Bed Fusion Sapphire XC printer. This development marks a significant step for Velo3D in expanding its capabilities and support for naval applications. The company’s efforts align with the broader goal of enhancing the efficiency and effectiveness of maritime operations. Such advancements are crucial for maintaining and advancing technological capabilities in the defense sector. This contract reflects the ongoing collaboration between Velo3D and the U.S. Navy to innovate in the field of 3D printing for military applications.

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