CPS Technologies Announces $12 Million Contract with Semiconductor OEM

NORTON, Mass., Oct. 30, 2024 (GLOBE NEWSWIRE) -- CPS Technologies Corp. (NASDAQ:CPSH) (“CPS” or the “Company”) today announced that it has received an award, valued at approximately $12 million, from a major, longstanding customer to provide power module components and related solutions. This agreement, though cancelable by either party, enables both parties to continue discussions about future volume and price requirements while near-term production needs are met. Deliveries are scheduled to take place over a twelve-month period starting in the current month, with volumes that represent a significant increase over the prior four quarters. The components will be employed primarily in high-speed rail, wind turbines and EV/HEV applications. The client company is a multinational semiconductor manufacturer based overseas.

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