Palantir launches Chain Reaction AI infrastructure platform with CenterPoint and NVIDIA
Investing.com -- CPS Technologies (NASDAQ:CPSH) stock surged 10.4% Tuesday after the company announced it has been awarded a Phase II Small Business Technology Transfer contract funded by the U.S. Army.
The $1.15 million contract will support CPS Technologies’ development of a controlled fragmentation tungsten warhead, initially focusing on a 40mm variant. This two-year project builds upon the successful completion of an earlier Phase I program and represents the company’s fifth new federally funded project of 2025.
Dr. Mark Occhionero, who has been with the company for nearly 40 years, will continue as the principal investigator for the project. The contract will utilize CPS Technologies’ proprietary injection molding process for producing detailed tungsten features, which offers a cost-effective alternative to traditional machining methods.
"We are thrilled to advance this work in support of the U.S. military’s requirements," said Brian Mackey, President & CEO of CPS Technologies. "The initial Phase I effort delivered very promising results under Dr. Occhionero’s guidance."
The New Mexico Institute of Mining and Technology, Energetic Materials Research and Testing Center will partner with CPS as a subcontractor during the Phase II program, providing expertise in artillery research and testing.
This contract marks CPS Technologies’ third successful conversion of a Phase I program to Phase II since June 2024, highlighting the company’s growing presence in defense-related projects.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.