Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

CPS Technologies secures rights to advanced composite tech

EditorEmilio Ghigini
Published 06/03/2024, 13:20
Updated 06/03/2024, 13:20
© Reuters.

NORTON, Mass. - CPS Technologies Corporation (NASDAQ:CPSH), a leader in producing high-performance materials solutions, has entered into an exclusive global licensing agreement with Triton Systems, Inc., a renowned technology incubator. The agreement grants CPS the rights to manufacture and sell products using Triton's patented Fiber-Reinforced Aluminum (FRA) Composites technology.

FRA Composites, which combine high-strength aluminum alloys with ceramic fibers, are known for their superior wear-resistance, enhanced service temperatures for aluminum, and uniform mechanical and physical properties. These composites are applicable in various sectors, including military vehicles, aerospace, motor sports, heavy trucks, and oilfield drilling.

CPS's CEO & President, Brian Mackey, expressed his enthusiasm for the agreement, stating that incorporating FRA Composites into their product line aligns with CPS's core competencies and will accelerate business growth. He also emphasized the opportunity to further leverage the company's production capabilities through the partnership with Triton.

Triton's Executive Vice President, Dr. Anant Singh, highlighted the partnership's potential to advance large-scale manufacturing of FRA composites and their insertion into aerospace, defense, and other commercial markets. He noted Triton's history of fostering science-based innovations and bringing them to market.

CPS Technologies is known for its innovative solutions in various applications, including transportation, renewable energy, defense, and telecommunications. The company's hermetic packages are utilized in aerospace and satellite applications, while their armor products offer lightweight ballistic protection.

Triton Systems, based in Chelmsford, MA, has a successful track record of developing commercial products and spin-offs, generating significant shareholder value. The company leverages in-house expertise and external resources to bring licensed products and ventures to market.

The financial terms of the licensing agreement, including the percentage of revenue Triton will receive from FRA Composite sales, have not been disclosed. This strategic partnership is based on a press release statement issued by CPS Technologies.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.