CPS Technologies Secures Major Funding for Innovation
CPS Technologies Corporation (NASDAQ:CPSH) has made an exciting announcement about its dedication to advancing high-performance materials. The company has received its second Phase II Small Business Innovation Research (SBIR) contract from the U.S. Department of Energy, worth approximately $1.1 million over the next two years. This grant will empower CPS to continue its pioneering work on modular radiation shielding specifically tailored for the transportation and operation of microreactors.
Leadership and a Focus on Innovation
Matthew Karnick, a materials scientist who played a key role in the earlier Phase I project, will lead this ambitious undertaking. Brian Mackey, the President and CEO of CPS, shared his excitement regarding this new award and what it signifies for the company: "This recognition highlights our team's ability to meet demanding standards while providing innovative solutions. Our goal is to tackle significant challenges in creating lightweight shielding for nuclear radiation uses."
Enhancing Safety in Nuclear Energy
The Phase I contract enabled CPS to successfully create and test lightweight, modular radiation shielding that can block both gamma and neutron radiation. With the new Phase II funding, the company aims to refine these materials and improve manufacturing processes to prepare them for the market. In a strategic move, CPS will team up with NETCO, a part of Curtiss-Wright Nuclear, to conduct thorough radiation testing, utilizing their extensive know-how in this area.
Exploring Commercial Applications
In light of this upcoming phase, CPS submitted a provisional patent application in July to safeguard the innovative designs developed during their Phase I work. Now, the company is actively seeking commercial opportunities that cater to both mobile and stationary needs. Combined with an earlier SBIR contract awarded in June, CPS has now secured over $3 million in funding in recent years, highlighting the rising interest and investment in their advanced technologies.
About CPS Technologies
As a recognized leader in technology and manufacturing, CPS specializes in providing high-performance material solutions that meet the diverse needs across various industries. Their innovations span applications in electric vehicles, wind turbines, the smart grid, and aerospace technologies. Additionally, CPS’s armor products are noted for their exceptional ballistic protection and environmental durability.
Commitment to Clean Energy Transition
CPS is dedicated to propelling the clean energy transition forward by continually innovating and offering solutions that encourage progress across various sectors. By addressing the critical needs of both current and emerging technologies, CPS is laying the foundation for safer and more efficient energy systems.
Frequently Asked Questions
What is the purpose of CPS Technologies' new SBIR award?
The funding will aid in the further development of modular radiation shielding designed for microreactors, thereby improving safety in nuclear applications.
Who is leading the Phase II project at CPS?
Materials scientist Matthew Karnick will spearhead the Phase II initiative, building on his earlier experience in the successful Phase I project.
What kind of innovations is CPS known for?
CPS is recognized for creating high-performance materials utilized in a wide range of applications, including electric vehicles, aerospace, and military defense systems.
How much funding has CPS received through SBIR contracts?
With the latest award, CPS's total SBIR funding has surpassed $3 million in recent years, reflecting strong investor confidence in their projects.
What collaborative efforts are involved in the new project?
CPS will partner with NETCO, a division of Curtiss-Wright Nuclear, to carry out radiation testing and advance the development of their modular shielding technology.
