CPS Technologies Corporation Announces SBIR Award

NORTON, Mass., June 07, 2022 (GLOBE NEWSWIRE) — CPS Technologies Corporation (NASDAQ:CPSH) has been awarded a Small Business Innovation Research (SBIR) contract from the US Army – Aviation and Missile Command (AMCOM) to develop novel thermal management solutions for electronic systems in Future Vertical Lift (FVL) platforms. CPS will leverage additive manufacturing to fabricate high-surface area, aluminum, cooling structures that are printed on and fully integrated with aluminum-silicon carbide (AlSiC) composites. CPS AlSiC already performs as a lightweight, dimensionally stable, high thermal conductivity material, ideal for reducing the size, weight, and power (SWaP) consumption of electronic thermal management systems. By introducing additive manufacturing processes, CPS will further expand achievable metal matrix composite geometries, optimize cooling performance, and broaden our offerings of thermal management solutions. The composite/3D coolers will improve the heat dissipation efficiency of avionic systems, laser diodes, electromechanical actuators, and high-pulse power systems, helping to electrify the next generation of Army rotorcraft.

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 $259,000 and will be conducted over six months.

President and CEO Michael McCormack stated, “CPS is excited to be awarded its first SBIR, in over a decade. The important attribute of this award is that this clearly demonstrates that our goal for growth with material science product solutions for a host of complex issues is bearing fruit. We are specifically addressing issues facing the Department of Defense modernization effort relating to new product design. We have another pending SBIR award with the US Navy to develop thermal energy storage systems for shipboard electronics that is in the final phases of the contract award cycle. The novel CPS composite will absorb energy generated during captive carry, keeping critical electronics cool, and slowly dissipating heat upon return and storage between missions. The reusable composite will reduce the overall footprint of the cooling systems, granting greater design flexibility while improving thermal performance. In addition, we have several other submissions currently pending and hope to be able to submit several more before the end of the year. We are hopeful that some of these submissions will be found successful and move on to a phase two award and ultimately lead to full commercialization.”

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 hermetic packages can be found in many Aerospace and Satellite applications including the GPS III satellite and the Mars rover. CPS armor products provide exceptional ballistic protection and environmental durability at very light weight. 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 2022 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
Chuck Griffith, Chief Financial Officer
111 South Worcester Street
Norton, MA 02766
Telephone: (508) 222-0614
Web Site: www.cpstechnologysolutions.com

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