Velo3D Announces Agreement with Ohio Ordnance Works to Support 3D Printed Military Weapons Development Initiative as Part of Rapid Production Services
Rhea-AI Summary
Positive
- Strategic entry into the defense sector through partnership with established military weapons manufacturer
- Expansion of service offerings through Rapid Production Services (RPS)
- Potential for recurring revenue through engineering and design services
Negative
- Early-stage development agreement with no specified contract value
- Focus limited to design and engineering services, not actual production
- Highly regulated industry with potential compliance risks
News Market Reaction – VLDX
In the trading session that priced this news, VLDX gained 3.29%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
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This collaboration focuses on the early stages of the development process, providing application engineering and design services that optimize military weapon components for additive manufacturing. Velo3D's expertise in additive design and material analysis will ensure that OOW's components which are designed for maximum performance, strength, and manufacturability, are in the best state before production begins.
"We are excited to collaborate with Ohio Ordnance Works on this critical defense initiative," said Arun Jeldi, Chief Executive Officer of Velo3D. "Through our application engineering, additive design, and analysis services, we are supporting OOW in the development phase to ensure that their components are optimized for 3D printing. This partnership enables us to help OOW streamline their design process, enhance performance, and ultimately meet the demanding needs of the defense sector."
Velo3D will support OOW with engineering services focused on design optimization, material selection, and testing to ensure the components meet the necessary performance requirements for military applications. The goal is to create complex, high-performance parts that are designed for efficient and effective 3D printing, which will ultimately accelerate the timeline for OOW's Rapid Production Services.
"At Ohio Ordnance Works, we are committed to delivering the highest-quality military components to our defense partners," said Robert Landies III, President of Ohio Ordnance Works. "By partnering with Velo3D, we can leverage their expertise in application engineering and design for additive manufacturing to optimize our design processes and ensure that we are producing parts with the precision, speed, and quality our military customers expect."
This collaboration represents an important step forward in integrating additive manufacturing into defense systems, providing OOW with the ability to improve the design and testing phases of their military weapons development, while also speeding up the production process.
About Velo3D:
Velo3D is a metal 3D printing technology Company. 3D printing—also known as additive manufacturing (AM)—has a unique ability to improve the way high-value metal parts are built. However, legacy metal AM has been greatly limited in its capabilities since its invention almost 30 years ago. This has prevented the technology from being used to create the most valuable and impactful parts, restricting its use to specific niches where the limitations were acceptable.
Velo3D has overcome these limitations so engineers can design and print the parts they want. The Company's solution unlocks a wide breadth of design freedom and enables customers in space exploration, aviation, energy, and semiconductor to innovate the future in their respective industries. Using Velo3D, these customers can now build mission-critical metal parts that were previously impossible to manufacture. The fully integrated solution includes the Flow print preparation software, the Sapphire family of printers, and the Assure quality control system. Through this vertically integrated approach, the Velo3D ecosystem facilitates scalable metal AM using the same print file across any Sapphire system, ensuring repeatable outcomes without the need for additional optimization. This enhances manufacturing scalability and supply chain flexibility, allowing Velo3D customers to seamlessly adapt to fluctuating demand. The Company delivered its first Sapphire system in 2018 and has been a strategic partner to innovators such as SpaceX, Aerojet Rocketdyne, Lockheed Martin, Avio, and General Motors. Velo3D has been named as one of Fast Company's Most Innovative Companies for 2023. For more information, please visit Velo3D.com, or follow the Company on LinkedIn or Twitter.
VELO, VELO3D, SAPPHIRE and INTELLIGENT FUSION, are registered trademarks of Velo3D, Inc.; and WITHOUT COMPROMISE, FLOW, FLOW DEVELOPER, and ASSURE are trademarks of Velo3D, Inc. All Rights Reserved © Velo3D, Inc.
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SOURCE Velo3D, Inc.