10:04 AM EDT, 08/21/2025 (MT Newswires) -- Velo3D ( VELO ) said Thursday it has signed a $6 million contract to develop and qualify copper nickel alloy for use in its Sapphire printers to support the US Navy's efforts to expedite ship repairs.

The company said the agreement includes the purchase of Velo3D's ( VELO ) large-format Sapphire XC printer and setting up a service agreement to back research and development, qualification, and part fabrication projects.

Velo3D ( VELO ) shares were rising more than 11% in recent trading Thursday.

Price: 3.53, Change: +0.37, Percent Change: +11.71