10:21 AM EDT, 04/18/2024 (MT Newswires) -- 5N Plus Inc. ( FPLSF ) , a global producer of specialty semiconductors and performance materials, was up more than 2% on Thursday after saying that it has won a US$14.4 million contract from the US Department of Defense for the production of space-qualified materials for solar cells under its Defense Production Act Investment Program.

Over the next four years, this award will allow the company to upgrade and increase its manufacturing capabilities at its St. George, Utah, facility while supporting the DOD's domestic sources of supply.

"This is a testament to the quality of our high-purity specialty semiconductors and our standing as a trusted supplier of critical materials for critical applications," Gervais Jacques, president and CEO of 5N+, said. "Our enabling materials are frequently in orbit powering commercial and defense satellites, and we are proud to have been recognized once again as a key supplier to the U.S. Department of Defense."