Velo3D has announced a five-year, 15 million USD master services agreement (MSA) with Momentus, Inc., a commercial space organisation based in the United States.
Under the terms of the master services agreement, Velo3D will provide consulting and parts production services through its new Rapid Production Solutions (RPS) offering.
Launched last month, RPS has been designed to enhance operational efficiency by providing surge capacity capabilities. Velo3D says the new offering will see the company work hand-in-hand with customers to develop application-specific solutions, with a view to shortening design cycles and reaching production qualification faster. Metrology, software and process control tools have all been integrated to ensure predictable output, while multiple production pathways are on offer - including vertical integration at customer sites and contract manufacturing partnerships - to allow users to adopt AM in the most suitable way possible.
In exchange for these services, Momentus has issued a combination of common stock and convertible preferred stock for services that will be delivered over a five-year period. Per the agreement, Velo3D will not hold more than 9.99% of the outstanding shares of Momentus's common stock at any time.
"We are constantly seeking opportunities to drive growth and deliver value, and this deal with Momentus marks a great step in that direction," said Arun Jeldi , CEO of Velo3D. "This partnership represents meaningful progress for both companies, setting the stage for the successful execution of mission-critical projects over the coming years. We are optimistic about the opportunities it opens up. Additionally, the agreement provides for seamless delivery, aligns with our long-term growth strategy and secures exceptional value for our company over the next five years."
