CPS Technologies Unveils New Phase II SBIR Award for Innovation
CPS Technologies Secures Significant Funding for Innovation
CPS Technologies Corporation (NASDAQ:CPSH) recently announced an exciting development regarding its commitment to innovation in high-performance materials. The company has secured its second Phase II Small Business Innovation Research (SBIR) contract from the U.S. Department of Energy, which is valued at approximately $1.1 million over a two-year period. This grant will allow CPS to further its groundbreaking work in developing modular radiation shielding specifically designed for the transportation and utilization of microreactors.
Leadership and Commitment to Innovation
Leading this ambitious project will be materials scientist Matthew Karnick, who played a pivotal role during the previous Phase I project. The company’s President and CEO, Brian Mackey, expressed his enthusiasm about the new award and its implications for CPS: "This recognition showcases our team's capability to meet stringent requirements while delivering innovative solutions. We aim to address significant challenges in ensuring lightweight shielding for nuclear radiation applications."
Advancing Safety in Nuclear Energy
The Phase I contract allowed CPS to successfully develop and test lightweight, modular radiation shielding capable of blocking both gamma and neutron radiation. With the new Phase II grant, their focus will shift towards optimizing these materials and enhancing manufacturing processes to facilitate market readiness. Notably, CPS will collaborate with NETCO, a division of Curtiss-Wright Nuclear, to ensure rigorous radiation testing, leveraging their considerable expertise in the field.
Exploring Commercial Opportunities
In anticipation of this new phase, CPS filed a provisional patent application this past July to protect the innovative designs crafted during their Phase I efforts. The company is now actively exploring commercial applications that can meet both mobile and stationary demands. Coupled with a prior SBIR contract awarded in June, CPS' total funding has surpassed $3 million in recent years, illustrating the growing interest and investment in their advanced technologies.
About CPS Technologies
CPS is recognized as a leader in the technology and manufacturing sectors, specializing in delivering high-performance material solutions tailored to diverse industry needs. The company's innovations extend to applications ranging from electric vehicles and wind turbines to the smart grid and aerospace technologies. Moreover, CPS's armor products stand out for their exceptional ballistic protection while maintaining environmental durability.
Dedication to Clean Energy Transition
In its commitment to driving forward the clean energy transition, CPS continues to innovate and provide solutions that foster progress across multiple sectors. By addressing the essential requirements of both existing and emerging technologies, CPS is laying the groundwork for safer and more efficient energy systems.
Frequently Asked Questions
What is the purpose of CPS Technologies' new SBIR award?
The funding will support the continued development of modular radiation shielding for microreactors, enhancing safety in nuclear applications.
Who is leading the Phase II project at CPS?
Materials scientist Matthew Karnick will lead the Phase II effort, building upon his role in the successful Phase I project.
What kind of innovations is CPS known for?
CPS is renowned for producing high-performance materials used in various applications, including electric vehicles, aerospace, and military defense systems.
How much funding has CPS received through SBIR contracts?
With the latest award, CPS' total SBIR funding has now exceeded $3 million in recent years, showcasing strong investor confidence in their projects.
What collaborative efforts are involved in the new project?
CPS will collaborate with NETCO, part of Curtiss-Wright Nuclear, to conduct radiation testing and further the development of their modular shielding technology.
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