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 Technologies
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
About The Elmet Group
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
Forward-Looking Statements
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.
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Chris Chandler
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