SINTX Technologies, Inc. (NASDAQ: SINT) is engaged as an advanced ceramics company, which is focused on the development and commercialization of materials and technologies for use in medical and technical settings. Shares of the innovative technology company are soaring 60% through early trading on Wednesday, December 21, 2022. Over the past three months, SINTX Technologies has seen average daily volume of 76,160 shares. However, volume of 12.52 million shares or dollar volume of around $147.11 million, has already exchanged hands through early trading.
Shares of SINTX Technologies are surging after the company announced it has been awarded a Phase 1 contract from the U.S. Missile Defense Agency to enhance electrochemical machining (ECM) for aerospace components. The Phase 1 contract has a value of $150,000 and calls for SINTX to develop and demonstrate critical advantages of its corrosion-resistant, dielectric, insulated multilayer coatings that will help drive ECM performance.
The proposal for the Phase 1 contract was originally filed by Technology Assessment and Transfer (TA&T), which is now a wholly-owned subsidiary of SINTX Technologies. SINTX will ultimately look to compare its unique materials and technologies compared to a traditional single-layer coating.
SINTX says it has partnered with Voxel Innovations, which will evaluate the corrosion and durability of the coatings developed by the technology company. Upon successful completion of the Phase 1 contract, SINTX says it intends to pursue a Phase 2 contract, which would be focused around scaling its technology to develop a prototype and tech demonstration.
“SINTX Technologies Inc., through its subsidiary TA&T, has been developing high-temperature, multilayer coatings for metals, ceramic matrix composites (CMC’s) and other high-temperature materials for over 30 years,” said Dr. Sonny Bal, President and CEO, SINTX Technologies. “We believe that this concept has strong merit, and that the MDA contract will allow SINTX to move the technology towards scale-up and commercialization.”
Disclosure: No position. Spotlight Growth has no relationships with any of the companies mentioned in this article and did not receive payment in any form for its creation. This is an opinion article and is not meant to be financial advise. We are not broker-dealers or investment professionals. Please conduct your own due diligence. For more information on our disclosures, please visit: https://spotlightgrowth.com/disclosures/