Velo3D (VELO) said Wednesday it has expanded its partnership with Innovative Rocket Technologies, known as iRocket, enabling iRocket to accelerate the production of reusable rocket and defense components in the US.

The partnership will support the production of propulsion and structural parts used in space and defense applications, Velo3D said.

The agreement, which includes iRocket's acquisition of Velo3D's Sapphire printers and adoption of Rapid Production Solutions, is expected to support domestic aerospace and defense supply chains by combining Velo3D's metal additive manufacturing systems with iRocket's reusable rocket and solid rocket motor programs, the company said.

Shares of Velo3D were up 8.8% in early Wednesday trading.

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