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NORTON, Mass., March 29, 2023 (GLOBE NEWSWIRE) -- 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