10:56 AM EDT, 09/17/2024 (MT Newswires) -- CPS Technologies ( CPSH ) said Tuesday it was awarded a $1.1 million phase 2 Small Business Innovation Research contract from the US Department of Energy.

The company said the two-year contract will fund efforts to optimize the modular radiation shielding developed in phase 1 and scale manufacturing processes in preparation for commercialization.

CPS said this is the second phase 2 SBIR contract it received since June, following the contract awarded by the US Navy. With these two contracts, CPS said its SBIR funding in recent years is now more than $3 million.

CPS shares were up 4% in recent Tuesday trading.

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