Contract to Accelerate Development of Molybdenum Components for Critical Defense Programs Contract t...








    




            

                 Contract to Accelerate Development of Molybdenum Components for Critical Defense Programs






    
        
            June 09, 2026 08:30 ET
        

        
             | Source:
            

                The Elmet Group
            
                

        
    

    

    

    





        
LEWISTON, Maine, June  09, 2026  (GLOBE NEWSWIRE) -- Elmet Technologies, a wholly-owned subsidiary of The Elmet Group Co. (“Elmet,” the “Company”) (NASDAQ: ELMT), the sole U.S.-owned and vertically integrated tungsten and molybdenum manufacturer, today announced it has secured strategic funding of $4.3 million in support of a government contract award to develop and advance domestic manufacturing capabilities for molybdenum-based products and refractory metal components utilized in critical defense programs.The contract award is expected to enhance Elmet Technologies’ capacity and capabilities related to precision machining, production automation, additive manufacturing, material feeding, post-processing equipment, as well as additional finishing and inspection systems.In addition, the contract aims to bolster domestic manufacturing readiness, redundancy, and expansion and meets the projected long-term demand for refractory metal components, specifically molybdenum-based products used in modern defense interceptor programs.“This award directly supports our mission of securing the critical materials and components supply chain in the U.S.,” said Derek Fox, President of Elmet Technologies, the Critical Materials Components division of The Elmet Group. “We expect that it will enable us to expand capacity and deploy advanced manufacturing technologies in support of our nation’s critical defense initiatives, several of which depend on molybdenum-based components as a foundation. Elmet is honored to serve as a provider within that foundation.”The contract will fund targeted investments across Elmet Technologies’ manufacturing operations with the objective of accelerating production throughput and improving precision component performance in mission-critical interceptor systems and U.S. defense platforms.This initiative aligns with Elmet Technologies’ long-standing commitment to strengthening U.S. domestic manufacturing capabilities and supporting the United States’ needs in critical materials and components, as well as fortifying the defense industrial base and national security.About Elmet TechnologiesElmet Technologies is the only U.S.-owned and operated, vertically integrated tungsten and molybdenum manufacturer. Since 1929, the company has been proudly serving its customers and applications in aerospace, defense, government, industrial, medical, semiconductor, electronics, and energy. With nearly 400 employees across three facilities, totaling over 500,000 square feet in Maine, Ohio, and Michigan, it is now one of the largest U.S.-owned producers of tungsten and molybdenum materials and products, fabricating materials to its global customers’ most exacting specifications. Elmet Technologies is ISO9001, AS9100, and ITAR registered.Learn more: www.elmettechnologies.com  About The Elmet GroupThe Elmet Group Co. (NASDAQ: ELMT) is a U.S.-based provider of precision-engineered components and advanced high-energy systems for the Aerospace, Defense and Government, Industrial, Medical, Semiconductor and Electronics, and Energy industries. The Company operates through two segments, Critical Materials Components (CMC) and Engineered Microwave Products (EMP), leveraging materials science and precision engineering expertise to deliver high-performance solutions. The Elmet Group is dedicated to strengthening domestic manufacturing capabilities to support the U.S. and its allies’ needs in both critical materials and advanced high-power microwave systems.Learn more: www.theelmetgroup.com  Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding the receipt and use of funds from a government contract award, expectations regarding the effects of the use of such funds, future performance, expected outcomes, and strategic initiatives. Forward-looking statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially. When used in this press release, words such as “expect,” “project,” “estimate,” “believe,” “anticipate,” “intend,” “plan,” “seek,” “forecast,” “target,” “predict,” “may,” “should,” “would,” “could,” and “will,” the negative of these terms and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Forward-looking statements are based on management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, actual results could differ materially from those indicated in these forward-looking statements. Factors that may affect results discussed in The Elmet Group Co.’s registration statement on Form S-1 (File No. 294725), as amended, and subsequent filings The Elmet Group Co. makes with the U.S. Securities and Exchange Commission. The Elmet Group Co. undertakes no obligation to update these statements except as required by law. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.  Company ContactChris Chandlercontact@theelmetgroup.com  Investor ContactTom Colton and Greg BradburyGateway Group, Inc.ELMT@gateway-grp.com949-574-3860  
            

ELMT

Elmet Technologies Awarded $4.3 Million Contract from United States Department of War

Elmet Secures $4.3M to Expand Domestic Molybdenum Production for Defense

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>Contract to Accelerate Development of Molybdenum Components for Critical Defense Programs Contract t...</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Elmet Technologies announced $4.3 million in strategic funding tied to a U.S. government contract to advance domestic molybdenum-based components for defense programs. The funds will expand precision machining, automation, additive manufacturing, and post-processing capabilities, strengthening the U.S. supply chain. If ramp milestones align with defense demand, the development could translate into meaningful long-term revenue and capacity growth.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Elmet secures $4.3M funding for a government contract.</li><li>Contract targets domestic molybdenum components for defense programs.</li><li>Funding upgrades machining, automation, additive manufacturing, and inspection systems.</li><li>Aims to bolster U.S. defense readiness and domestic manufacturing base.</li><li>Near-term revenue impact unclear; potential long-term upside from defense demand.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Elmet Technologies (ELMT)</strong>: Announced the $4.3M strategic funding and contract scope; near-term impact on capacity and defense exposure.</li><li><strong>The Elmet Group Co. (ELMT)</strong>: Parent company referenced; reinforces corporate backing and overall strategic alignment with defense manufacturing.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category: Corporate Developments. The news describes a government contract funding and capacity expansion rather than an earnings update, with potential strategic and long-run financial implications for ELMT.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Funding signals potential near-term re-rating via capacity expansion.</li><li>Defense demand and domestic-supply emphasis may lift volumes.</li><li>Execution timing and scope of the contract remain key catalysts.</li><li>Follow-on awards could extend upside beyond the initial program.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Date: June 9, 2026.</li><li>Funding amount: $4.3 million.</li><li>Purpose: develop domestic molybdenum-based products and refractory components for defense.</li><li>Elmet is the sole U.S.-owned tungsten/molybdenum manufacturer; facilities in ME, OH, MI.</li><li>Registered: ISO9001, AS9100, ITAR.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>ELMT could rally if the contract translates into sustained revenue and scalable capacity within 12–24 months.</p>
  </section>
</section>


<article>
  <section>
    <h2>Elmet Technologies Awarded $4.3 Million Contract to Accelerate Domestic Molybdenum Components for Critical Defense Programs</h2>
    <p>LEWISTON, Maine, June 9, 2026 (GLOBE NEWSWIRE) — Elmet Technologies, a wholly-owned subsidiary of The Elmet Group Co. (NASDAQ: ELMT) and the sole U.S.-owned and vertically integrated tungsten and molybdenum manufacturer, announced it has secured strategic funding of <strong>$4.3 million</strong> in support of a government contract award to develop and advance domestic manufacturing capabilities for molybdenum-based products and refractory metal components utilized in critical defense programs. The contract is expected to enhance Elmet Technologies’ capacity and capabilities across precision machining, production automation, additive manufacturing, material feeding, post-processing equipment, as well as additional finishing and inspection systems.</p>
  </section>

  <section>
    <h3>Contract Details and Strategic Impact</h3>
    <ul>
      <li><strong>Contract value</strong>: <strong>$4.3 million</strong></li>
      <li><strong>Purpose</strong>: develop and advance domestic manufacturing capabilities for molybdenum-based products and refractory metal components utilized in critical defense programs</li>
      <li><strong>Capabilities to be enhanced</strong>: precision machining, production automation, additive manufacturing, material feeding, post-processing equipment, finishing and inspection systems</li>
      <li><strong>Strategic aim</strong>: bolster domestic manufacturing readiness, redundancy, and expansion to meet long-term demand for refractory metal components used in modern defense interceptor programs</li>
      <li><em>Scope</em>: accelerate production throughput and improve precision component performance in mission-critical interceptor systems and U.S. defense platforms</li>
    </ul>
  </section>

  <section>
    <h3>Executive Perspective on the Defense Materials Initiative</h3>
    <p><em>“This award directly supports our mission of securing the critical materials and components supply chain in the U.S.,”</em> said Derek Fox, President of Elmet Technologies, the Critical Materials Components division of The Elmet Group. <em>“We expect that it will enable us to expand capacity and deploy advanced manufacturing technologies in support of our nation’s critical defense initiatives, several of which depend on molybdenum-based components as a foundation. Elmet is honored to serve as a provider within that foundation.”</em></p>
  </section>

  <section>
    <h3>Context and Implications for U.S. Defense Manufacturing</h3>
    <p>The contract will fund targeted investments across Elmet Technologies’ manufacturing operations with the objective of accelerating production throughput and improving precision component performance in mission-critical interceptor systems and U.S. defense platforms. This initiative aligns with Elmet Technologies’ long-standing commitment to strengthening U.S. domestic manufacturing capabilities and supporting the United States’ needs in critical materials and components, as well as fortifying the defense industrial base and national security.</p>
  </section>

  <section>
    <h3>About Elmet Technologies</h3>
    <p>Elmet Technologies is the only U.S.-owned and operated, vertically integrated tungsten and molybdenum manufacturer. Since 1929, the company has been proudly serving its customers and applications in aerospace, defense, government, industrial, medical, semiconductor, electronics, and energy. With nearly 400 employees across three facilities, totaling over 500,000 square feet in Maine, Ohio, and Michigan, it is now one of the largest U.S.-owned producers of tungsten and molybdenum materials and products, fabricating materials to its global customers’ most exacting specifications. Elmet Technologies is ISO9001, AS9100, and ITAR registered. Learn more: www.elmettechnologies.com</p>
  </section>

  <section>
    <h3>About The Elmet Group</h3>
    <p>The Elmet Group Co. (NASDAQ: ELMT) is a U.S.-based provider of precision-engineered components and advanced high-energy systems for the Aerospace, Defense and Government, Industrial, Medical, Semiconductor and Electronics, and Energy industries. The Company operates through two segments, Critical Materials Components (CMC) and Engineered Microwave Products (EMP), leveraging materials science and precision engineering expertise to deliver high-performance solutions. The Elmet Group is dedicated to strengthening domestic manufacturing capabilities to support the U.S. and its allies’ needs in both critical materials and advanced high-power microwave systems. Learn more: www.theelmetgroup.com</p>
  </section>

  <section>
    <h3>Forward-Looking Statements</h3>
    <p>This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding the receipt and use of funds from a government contract award, expectations regarding the effects of the use of such funds, future performance, expected outcomes, and strategic initiatives. Forward-looking statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially. When used in this press release, words such as “expect,” “project,” “estimate,” “believe,” “anticipate,” “intend,” “plan,” “seek,” “forecast,” “target,” “predict,” “may,” “should,” “would,” “could,” and “will,” the negative of these terms and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Forward-looking statements are based on management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, actual results could differ materially from those indicated in these forward-looking statements. Factors that may affect results discussed in The Elmet Group Co.’s registration statement on Form S-1 (File No. 294725), as amended, and subsequent filings The Elmet Group Co. makes with the U.S. Securities and Exchange Commission. The Elmet Group Co. undertakes no obligation to update these statements except as required by law. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.</p>
  </section>

  <section>
    <h3>Contacts</h3>
    <p>Company Contact: Chris Chandler — contact@theelmetgroup.com</p>
    <p>Investor Contact: Tom Colton and Greg Bradbury, Gateway Group, Inc. — ELMT@gateway-grp.com, 949-574-3860</p>
  </section>
</article>

Elmet Technologies announced $4.3 million in strategic funding tied to a U.S. government contract to advance domestic molybdenum-based components for defense programs. The funds will expand precision machining, automation, additive manufacturing, and post-processing capabilities, strengthening the U.S. supply chain. If ramp milestones align with defense demand, the development could translate into meaningful long-term revenue and capacity growth.

Elmet Technologies Awarded $4.3 Million Contract from United States Department of War

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

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