Mentioned:
An American defense contractor is taking a new bet on 3D printing. And they’re partnering up with Velo3D to do it.
What’s happening:
- Velo3D (NASDAQ: VELO) has landed a new multi year production deal with a United States defense contractor for $11.5M USD
Why it matters:
- This is one of the single largest contracts Velo3D has ever won from a defense contractor in America
Going deeper:
- Velo3D has publicly stated they will supply system components for a highly sensitive program for national security that is entering full production as part of the new deal with a American based defense contractor
- Velo3D previously made waves on Wall Street when they landed a deal with the United States Department of War to leverage their advanced additive manufacturing capabilities for a large scale munitions weapon system program
