Velo3D Collaborates With US Army for 3D Printing Services

MT Newswires Live01-13

Velo3D (VELO) said Tuesday it has entered a cooperative research and development agreement with the US Army DEVCOM Ground Vehicle Systems Center to develop and qualify 3D-printed metal parts for military vehicles and systems.

Financial terms were not provided.

The agreement will use Velo3D's Rapid Production Solution to create prototype alternatives to traditional manufacturing and test several alloys compatible with its Sapphire printers, the company said.

If qualified, these parts could be adopted by the Army to address supply chain issues affecting ground combat vehicles and other military equipment, Velo3D said.

Shares of the company were down 1.4% in recent Tuesday trading.

Price: 21.45, Change: -0.64, Percent Change: -2.90

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