Elmet Technologies Awarded $36 Million Defense Logistics Agency Contract for Molybdenum and Tungsten Aerospace Materials

The new award adds finished aerospace materials to the subsidiary’s previously announced tungsten stockpile supply contract.

Rhea-AI Summary

The Elmet Group (ELMT) announced that its wholly owned subsidiary Elmet Technologies won a Defense Logistics Agency contract valued at approximately $36 million.

The award covers molybdenum and tungsten alloys and precision wire for the U.S. National Defense Stockpile, including materials used in jet engine components. It is separate from the tungsten supply contract announced September 14, 2026, which has a $2 billion ceiling and a guaranteed funded commitment of $150 million. The Elmet Group also announced a $450 million committed investment from the United States Department of War on that date.

3 points · 2 major

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0 major · 0 points

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Positive

• Major pointPreviously announced DLA tungsten supply contract has a $2 billion ceiling, including a $150 million guaranteed funded commitment. 3.4× market cap
• Major pointThe Elmet Group previously announced a $450 million committed investment from the United States Department of War. 77% of market cap
• Moderate pointElmet Technologies won an approximately $36 million DLA contract for aerospace alloys and precision wire. 6.2% of market cap

Negative

• None.

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Details

Market Reaction – ELMT

$19.00 – $20.10 Day Range

$597.01M Market Cap

On Sep 30, the day this news came out, the latest delayed price for ELMT is 2.35% above the previous close. Our momentum scanner has recorded 2 alerts for this stock so far that day. The latest delayed price is $19.60.

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Key Figures

Contract value: approximately $36 million

Contract value

approximately $36 million

DLA award for molybdenum and tungsten materials

Historical Context

1 past event · Latest: Sep 14

1 event

1. Sep 14

   DLA stockpile contract

   24h Move

   +32.8%

   Announced a separate DLA stockpile contract with a $2 billion ceiling and $150 million minimum.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

refractory metals, titanium-zirconium-molybdenum, idiq

3 terms

refractory metals technical

"Molybdenum and tungsten, known as refractory metals"

Metals known for very high melting points, strong resistance to heat, wear and corrosion, often including tungsten, molybdenum, tantalum and niobium; they retain strength at temperatures where ordinary metals soften. They matter to investors because they are key raw materials for industries like aerospace, electronics, energy and defense, so their supply, demand and prices can affect manufacturers’ costs, project viability and sector profitability much like a scarce ingredient affects a food producer.

titanium-zirconium-molybdenum technical

"titanium-zirconium-molybdenum ("TZM") alloy billets"

An alloy or alloy family made by combining titanium, zirconium and molybdenum in varying proportions to produce a metallic material with enhanced strength, corrosion resistance and often improved biocompatibility compared with pure titanium. Alloying changes the metal's microstructure and phase balance (for example stabilizing certain crystal structures), which raises mechanical strength and fatigue resistance and can reduce reactivity in corrosive or bodily environments; exact properties depend on the relative amounts and processing, because there is no single standardized composition for the phrase "titanium‑zirconium‑molybdenum."

idiq regulatory

"indefinite delivery/indefinite quantity ("IDIQ") contract"

An IDIQ (Indefinite Delivery/Indefinite Quantity) is a type of government procurement contract that sets terms and maximum limits for buying goods or services over a period without specifying exact delivery dates or quantities up front. For investors, an IDIQ signals a potential steady revenue stream and easier repeat business because it gives a company preferred access to future orders under agreed terms—think of it as a standing shopping account that can generate unpredictable but recurring sales.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Contract covers high-performance alloys and precision wire used in the production of jet engine components

Award is in addition to the $2 billion DLA tungsten stockpile contract announced September 14, 2026

Further strengthens Elmet’s role as a domestic supplier of critical materials to domestic ADG markets

LEWISTON, Maine, Sept. 30, 2026 (GLOBE NEWSWIRE) -- Elmet Technologies, a wholly owned subsidiary of The Elmet Group Co. (NASDAQ: ELMT) ("ELMT" or the "Company"), today announced it has been awarded a contract valued at approximately $36 million by the Defense Logistics Agency ("DLA") to supply high-performance molybdenum and tungsten alloys and precision wire to the U.S. National Defense Stockpile. These materials are used in the production of jet engine components and other demanding aerospace applications. The award is separate from the $2 billion DLA contract announced on September 14, 2026.

Molybdenum and tungsten, known as refractory metals, withstand temperatures that would melt most other metals, which makes them essential to jet engines and other high-performance defense systems. Global supply of these metals has historically been concentrated outside the United States, which makes a reliable domestic source a national priority.

Under the contract, Elmet Technologies will supply DLA Strategic Materials, the agency responsible for managing the National Defense Stockpile, with titanium-zirconium-molybdenum ("TZM") alloy billets, bar stock, and ingots, as well as specialized molybdenum and tungsten wire.

TZM is a molybdenum alloy strengthened with small additions of titanium and zirconium. It retains its strength at higher temperatures than pure molybdenum, making it well suited to aerospace and defense applications where materials must perform under extreme heat and stress.

"This award reflects the depth of Elmet Technologies' capabilities in molybdenum and tungsten, from specialty alloy billets and bar to precision ultra-fine wire with advanced properties," said Derek Fox, President of the Critical Materials Components Division of The Elmet Group. "Refractory metals are foundational to aerospace manufacturing and the production of jet engine components. As a vertically integrated U.S. manufacturer, we believe this contract further demonstrates our role as a trusted domestic source of critical materials and precision-engineered components."

The award draws on Elmet Technologies' metallurgical engineering capabilities in tungsten and molybdenum, from powder through finished mill products and components, which have supported customers in aerospace, defense, and other critical industries for nearly a century. Capabilities reflected in the contract include:

• Precision refractory metal wire. Specialized wire produced from molybdenum, tungsten, and related alloys, including potassium-doped grades, manufactured to tight dimensional, electrical, and mechanical specifications.
• High-strength TZM billets. Large-format TZM billets produced by both press-and-sinter and arc-cast processes.
• High-performance refractory alloy bar. Extruded bar produced by both arc-cast and press-and-sinter processes for high strength at extreme temperatures.
• Arc-cast refractory alloy ingots. Produced by arc-cast melting under controlled conditions, providing dense, high-purity feedstock for further forming.
  
  

Collectively, these products reflect Elmet Technologies’ ability to produce refractory metal materials across multiple forms and processes, from large-format alloy billets to precision ultra-fine wire.

Building on Recent Momentum with the DLA and Department of War

On September 14, 2026, The Elmet Group announced a $450 million committed investment from the United States Department of War. At the same time, it announced that Elmet Technologies had been awarded an indefinite delivery/indefinite quantity ("IDIQ") contract by the DLA to support the rebuilding of the National Defense Stockpile. That contract has a ceiling value of $2 billion, including a guaranteed funded commitment of $150 million, and covers the supply of tungsten concentrates and sodium tungstate to the National Defense Stockpile.

Building on recent announcements focused on the Company’s efforts to secure upstream tungsten supply through mining, offtake, and refining relationships, this award demonstrates the downstream value of that supply that can be realized in the form of finished, high-value refractory metal products manufactured in the United States. Together, these developments advance ELMT's objective of establishing an integrated critical materials supply chain from ore to finished component.

About Elmet Technologies
Elmet Technologies is the only U.S.-owned and operated, vertically integrated tungsten and molybdenum manufacturer. Since 1929, the company has been proudly serving its customers and applications in aerospace, defense, government, industrial, medical, semiconductor, electronics, and energy. With nearly 400 employees across three facilities, totaling over 500,000 square feet in Maine, Ohio, and Michigan, it is now one of the largest U.S.-owned producers of tungsten and molybdenum materials and products, fabricating materials to its global customers’ most exacting specifications. Elmet Technologies is ISO9001, AS9100, and ITAR registered.

About The Elmet Group
The Elmet Group is a U.S.-based provider of critical materials, precision-engineered components, and advanced high-energy systems for the Aerospace, Defense and Government, Industrial, Medical, Semiconductor and Electronics, and Energy industries. The Company operates through three divisions: Critical Materials Components (CMC), Engineered Microwave Products (EMP), and Elmet Refining & Trading (ERT), leveraging materials science and precision engineering expertise to deliver high-performance solutions. The Elmet Group is dedicated to strengthening domestic manufacturing capabilities to support the U.S. and its Allies’ needs in both critical materials and advanced high-power microwave systems.

Media Contact
media@theelmetgroup.com

Investor Contact
Tom Colton and Greg Bradbury
Gateway Group, Inc.
ELMT@gateway-grp.com
949-574-3860

Forward-looking statements disclaimer
The information in this press release includes forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. These statements generally relate to future events or our future financial or operating performance and include statements regarding (i) the $36 million contract awarded to ELMT by the DLA for the supply of high-performance molybdenum and tungsten alloys and precision wire, (ii) the ability of ELMT to strengthen its position as a domestic supplier of critical materials to ADG and other markets; (iii) the ability of ELMT to become a vertically integrated, U.S.-based provider of critical materials with capabilities and access throughout the full Tungsten supply chain across key geographies around the world; (iv) the ability of ELMT to successfully supply critical materials under its contracts with the DLA; (v) the ability of ELMT to realize downstream value from its efforts to secure a domestic critical materials supply chain; and (vi) ELMT’s future performance, expected outcomes and strategic initiatives.

When used in this press release, words such as “expect,” “project,” “estimate,” “believe,” “anticipate,” “intend,” “plan,” “seek,” “forecast,” “target,” “predict,” “may,” “should,” “would,” “could,” and “will,” the negative of these terms and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Forward-looking statements are based on management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, actual results could differ materially from those indicated in these forward-looking statements. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in ELMT’s Registration Statement on Form S-1, as amended (File No. 333-294725) and subsequent filings ELMT makes with the Securities and Exchange Commission. ELMT undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does Elmet Technologies’ approximately $36 million DLA contract cover?

The contract covers molybdenum and tungsten alloys and precision wire for the U.S. National Defense Stockpile. Elmet Technologies will supply titanium-zirconium-molybdenum alloy billets, bar stock and ingots, as well as specialized molybdenum and tungsten wire. These materials are used in jet engine components and other aerospace applications.

Is Elmet Technologies’ new DLA award part of its previously announced $2 billion contract?

The approximately $36 million award is separate from the DLA contract announced September 14, 2026. The earlier contract covers tungsten concentrates and sodium tungstate, with a $2 billion ceiling that includes a guaranteed funded commitment of $150 million.