Core Insights - Velo3D has secured an $11.5 million multi-year full rate production contract from a key U.S. defense contractor to support a national security program [1] - The contract highlights Velo3D's capabilities in additive manufacturing, specifically using its Rapid Production Solution (RPS) and Laser Powder Bed Fusion (LPBF) technology [1] - Velo3D's printers can produce high-performance components quickly and at a lower cost compared to traditional manufacturing methods [1] Company Overview - Velo3D specializes in additive manufacturing technology for mission-critical metal components, overcoming limitations of legacy metal AM technology [1] - The company provides a fully integrated solution that includes Flow print preparation software, Sapphire® printers, and Assure quality control system, powered by Intelligent Fusion® manufacturing process [1] - Velo3D has been recognized as one of Fast Company's Most Innovative Companies for 2024 [1] Contract Details - The contract is aimed at delivering essential system components for a sensitive national security program entering full-rate production [1] - Velo3D's Sapphire® printers are capable of printing parts up to 600mm in diameter and one meter in height, significantly expanding production capabilities [1] - The contract reflects the trust and confidence that customers have in Velo3D to meet evolving demands through faster part delivery and enhanced reliability [1]

Core Insights - Velo3D, Inc. has secured a $32.6 million contract with the U.S. Department of War's Defense Innovation Unit to support Project FORGE, aimed at addressing manufacturing bottlenecks in critical defense systems [1][2][3] Group 1: Project FORGE and Contract Details - The contract supports DIU's Project FORGE, which focuses on resolving manufacturing bottlenecks in the U.S. defense industrial base [1] - Velo3D will collaborate with DIU, the U.S. Navy, and a key industry partner to prototype and qualify additively manufactured components [1][2] - The agreement includes an option to develop the largest format Laser Powder Bed Fusion (LPBF) printing capability in the U.S. [2] Group 2: Velo3D's Technology and Capabilities - Velo3D's Rapid Production Solution (RPS) enables quick prototyping and scalable production of mission-critical components [2][3] - The company's Sapphire® printers can produce parts up to 600mm in diameter and one meter in height, enhancing production capabilities [3] - Velo3D's systems meet Department of Defense cybersecurity standards, ensuring secure manufacturing operations [4] Group 3: Industry Context and Importance - The collaboration between DIU and Velo3D is seen as essential for addressing critical production backlogs in defense manufacturing [2] - Velo3D's technology allows for greater design freedom and the production of previously impossible metal parts, benefiting various industries including aerospace and energy [8] - The partnership aims to strengthen the U.S. defense industrial base by integrating advanced commercial technologies [5]