Shares of Velo3D Inc. (NYSE: VLD) increased 10.29% after hours to $5.25 after receiving a significant order. The VLD stock closed Wednesday’s session at $4.76, up 10.19%. A total of 1.47 million shares were traded, a lower volume than the 2.05 million shares traded on average over the past 50 days.
What does VLD get the order for?
As part of its ongoing commitment to providing its customers with high-quality, additively manufactured components, Velo3D (VLD) announced the purchase of seven Sapphire printers by Kevton Technologies, a subsidiary of Houston-based contract manufacturer Kevton Industries. Kevton Technologies is now one of the top suppliers of additively manufactured parts based on the laser powder bed fusion technology of Velo3D, the largest purchase Velo3D has ever made from a contract manufacturer. Kevton’s Houston, Texas facility is scheduled to begin manufacturing parts for customers with the first two Sapphire printers in Q1, 2023.
As additive manufacturing grows in popularity-especially in aerospace-Kevton’s partnership with Velo3D will further its position as a manufacturer of high-quality parts across its key sectors. Kevton Technologies identified Velo3D’s fully integrated solution as one of the most transformative for its service offering after meeting with many vendors of additive manufacturing technology.
In addition to CNC turning and milling, Kevton Technologies offers coordinated measuring machine inspections, wire EDM, and other finishing processes. In addition to ISO9000/AS9100 certification, the company has an extensive list of accreditations. In addition to continuing the company’s legacy in its key industries, its new additive manufacturing division will work to enhance it.
Today, additive manufacturing is undergoing extensive growth and the technology has only scratched the surface of the adoption it is expected to see over the next decade. It will be much easier for companies to grow their market share in the coming years if they acquire additive manufacturing technology now.
How does VLD excel?
Since its debut in 2018, Velo3D’s additive manufacturing technology has gained a lot of traction in the aerospace industry, with customers like Launcher, SpaceX, Hermeus, Lockheed Martin, and Aerojet Rocketdyne using it for some of their most complex designs. As part of VLD’s involvement with Kevton Technologies, the company will learn how to manufacturer mission-critical, additive metal parts.