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Stock impact report

CPS Technologies Announces MMAP Award

CPS Technologies Corp. (CPSH) 
US:NASDAQ Investor Relations: alsic.com/investors
Company Research Source: GlobeNewswire
NORTON, Mass., March 04, 2024 (GLOBE NEWSWIRE) -- CPS Technologies Corporation (NASDAQ:CPSH) (“CPS” or the “Company”) today announced it has received an award from the Massachusetts Manufacturing Accelerate Program (“MMAP”) in response to a proposal submitted by the Company in the fourth quarter of 2023. The award, valued at $200,000, will support the purchase of a 5-axis CNC machine and expand the Company’s manufacturing capabilities to better serve its clients. This new capability will build on the Company’s core competencies while enabling CPS to fulfill a new generation of customer requirements and capture additional business. The addition of a 5-axis CNC machine will also allow the Company to complete more work in the Commonwealth of Massachusetts and, more specifically, in-house. With this increased manufacturing capacity, CPS expects to grow its workforce to keep up with demand and train existing and new machinists and technicians to operate and maintain the 5-axis CNC. Show less Read more
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