Velo3D Receives 3D Printing Contract to Support US Navy; Shares Rise

MT Newswires Live

Aug 21

Velo3D (VELO) said Thursday it has signed a $6 million contract to develop and qualify copper nickel alloy for use in its Sapphire printers to support the US Navy's efforts to expedite ship repairs.

The company said the agreement includes the purchase of Velo3D's large-format Sapphire XC printer and setting up a service agreement to back research and development, qualification, and part fabrication projects.

Velo3D shares were rising more than 11% in recent trading Thursday.

Price: 3.53, Change: +0.37, Percent Change: +11.71

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