Core Points - Espey Mfg. & Electronics Corp. has been awarded $3.4 million for capital improvements to enhance domestic industrial capabilities [2] - This funding is part of the U.S. Navy's initiative to strengthen the domestic U.S. Surface Combatant Industrial Base [2] - The investment will allow Espey to expand its design, manufacturing, testing, and delivery capabilities for electrical power products [2] - This funding is in addition to a previous $7.4 million received in February 2023 for a new manufacturing facility and power infrastructure enhancements [3] - The ongoing investments reflect the U.S. Government's commitment to bolstering critical domestic manufacturing capabilities [3] - The projects will be executed at Espey's facility in Saratoga Springs, NY, with completion expected in 2026 [3] - Espey's primary business focuses on the development, design, and production of specialized military and industrial power supplies, power systems, and transformers [4]