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Norton, Massachusetts, March 29, 2023. CPS Technologies Corporation (NASDAQ:CPSH) has been awarded a Phase I Small Business Innovative Research (SBIR) contract from the U.S. Army to develop lightweight, reconfigurable UH-60 flooring. CPS will develop a structural armor floor system for the UH-60 fleet that reduces aircraft weight while maximizing mission configuration flexibility. CPS will design and fabricate a Ballistic Armor Protection System (BAPS) using our proprietary HybridTech Armor® Metal Matrix Composite (MMC) technology. HybridTech Armor consists of ceramic tiles that are encapsulated in fiber-reinforced Aluminum (Al). MMC and monolithic ceramic tiles yield robust ballistic and structural performance while reducing weight compared to other metallic armor systems.

Director of Product Development, Dr. Stephen Kachur said: “Our team is eager to begin development efforts in support of this program. We are confident that CPS’s expertise in developing advanced material solutions will yield a solution that aligns with the objectives of this program and Army modernization efforts. Activities in phase I will focus on the fabrication of next-generation structural armor flooring that meets the program’s technical objectives related to the areal density and ballistic performance.”

Michael McCormack, CPS President and CEO added: “This marks CPS’s fourth phase I SBIR win in the last 12 months. I am pleased with our team’s ability to identify advanced material solutions addressing a host of complex issues that are coming directly from the Department of Defense. Our investments in top engineering talent and a strategic focus on customer-driven product development continue to generate positive results.”

The SBIR program allows small businesses to compete their solutions with best-in-class companies and institutions to specifically address and resolve issues for the Department of Defense, Department of Energy, and other government agencies. Phase I of this contract is for $250,000 and will be conducted over six months.

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.


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