CPS Technologies

CPS Technologies produces metal matrix composites (MMCs), primarily aluminum-silicon-carbide (AlSiC). The material combines the light weight of aluminum with the stiffness and thermal properties of silicon carbide. It is used in two main applications: ceramic composite armor for military vehicles and naval vessels, and thermal-management components—baseplates and lids—that pull heat away from power semiconductors in electric vehicles, wind turbines, trains, and telecom infrastructure. The company's AlSiC is hermetic and can be engineered to match the thermal expansion of silicon, preventing stress fractures in bonded assemblies.

CPS sells to two distinct customer sets. On the defense side, the company supplies armor panels through prime contractors to the U.S. Navy and other branches of the U.S. Department of Defense. On the commercial side, its AlSiC components go to outsourced semiconductor assembly and test providers (OSATs) and power-module integrators. End-use products include traction inverters for electric and hybrid vehicles, wind-turbine power converters, high-speed rail propulsion systems, and 5G base-station amplifiers. The company has also supplied components for satellite and aerospace applications (per public record).

It is both, but the revenue mix is shifting toward commercial thermal management. Historically, the majority of revenue came from U.S. Navy armor contracts, which provided a stable, program-funded base. In recent years, the company has pivoted toward AlSiC thermal-management products for power electronics, driven by electrification trends in transportation and renewable energy. The defense business remains significant and provides a multi-year revenue backlog, but management has stated that thermal-management components represent the long-term growth opportunity (per the firm's official communications).

The firm's primary advantage is its proprietary pressure-infiltration casting process and the qualification status it has earned with defense and industrial customers. Qualifying a new supplier for U.S. Navy armor or for an automotive power-module line can take years of testing and validation, creating high switching costs. The company also holds a portfolio of patents covering the composition and manufacturing of AlSiC components. Because CPS controls the full production chain in-house—from raw powder to finished machined part—it can offer consistency and reliability that buyers in mission-critical applications require (per public record).

Yes. CPS's AlSiC baseplates are used in power modules for electric and hybrid vehicles, wind-turbine generators, and solar inverters. The material's ability to handle high heat flux while maintaining electrical isolation makes it suitable for the silicon-carbide (SiC) power semiconductors that enable faster, more efficient EV chargers and traction inverters. As wind turbines grow larger and power modules become denser, the thermal-management requirements increase, and CPS's material competes against traditional copper and aluminum heat sinks where those materials reach their thermal limits (per the firm's official communications).

The company is headquartered in Norton, Massachusetts, and operates a single manufacturing plant at that location. The facility handles all steps of production: blending aluminum and silicon-carbide powders, casting near-net-shape parts using the pressure-infiltration process, and performing final CNC machining and quality inspection. CPS has maintained manufacturing in Massachusetts since its founding in 1984 (per public record).

CPS is a materials supplier to the semiconductor-packaging ecosystem. After a power semiconductor chip is fabricated, it must be attached to a substrate that provides electrical connection and removes heat. CPS's AlSiC baseplates serve as that substrate in high-power modules. The company sells to OSATs and module integrators, not directly to chip foundries, and its components end up in silicon-carbide and IGBT power modules. The hermetic seal of AlSiC also means it can replace traditional copper-molybdenum-copper laminates in packaging that must remain airtight, as in aerospace and satellite applications (per the firm's official communications).