CPS Technologies Corp. reports company developments tied to its advanced materials manufacturing business, including metal matrix composites, hermetic packaging, power module components and lightweight HybridTech Armor®. News commonly covers quarterly operating results, production rates, customer orders and demand across transportation, energy, electronics, telecommunications, aerospace and defense applications.
Recurring updates also include contracts for aluminum silicon carbide components used in high-speed rail and grid infrastructure, funded defense research involving lighter vehicle materials, production-capacity planning, capital actions and executive leadership changes. The company’s disclosures connect its materials technology to electrification, high-reliability electronics, satellite and avionics markets.
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CPS Technologies Corporation (NASDAQ:CPSH) announced the resignation of Michael McCormack as president and CEO, effective April 21, 2023. Under McCormack's leadership since July 2021, the company achieved record revenues and operating income, significantly strengthening its product development team. The Board appointed Charles Griffith, the current CFO since 2019, as acting president while a search for a new CEO is conducted. Griffith expressed confidence in continuing momentum, anticipating another record year for 2023. CPS specializes in high-performance energy management components for various applications, including electric vehicles and aerospace.
CPS Technologies Corporation (NASDAQ:CPSH) has secured a Phase I Small Business Innovative Research (SBIR) contract from the U.S. Army to develop lightweight, reconfigurable flooring for the UH-60 fleet. The project involves creating a Ballistic Armor Protection System (BAPS) utilizing their HybridTech Armor® Metal Matrix Composite (MMC) technology, focusing on reducing aircraft weight while enhancing mission flexibility. The contract, valued at $250,000, will span six months. CPS has won four Phase I SBIR contracts in the last year, underscoring its commitment to advanced material solutions in defense and energy sectors.