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National Contract Management Association Announces New Board of Directors

National Contract Management Association

The National Contract Management Association (NCMA), dedicated to the advancement and expansion of the contract management profession, announced today the appointment of its new Board of Directors. The program year 2025 new Directors include David Bassett and Manuel Mendez; reappointed are Joy White, and Cameron Holt as Wendy Masiello and Heidi Timmerman transition from the Board. All bring a wealth of experience and expertise in contract management which will further strengthen the association’s strategic direction, transformation, and growth. "As we further our mission to advance the contract management profession and fortify its ties with other acquisition-related communities through advocacy, standards, and professional development, the addition of these individuals is significant,” said Board Chair-Elect, Heather Gerczak. “Their collective wealth of experience, knowledge, and leadership promises to invigorate our organization, propelling us closer to our goals. We eagerly anticipate their contributions as we chart our course forward." Lieutenant General David Bassett (US Army Retired), Founder of Acquisition Insight LLC, provides business consulting to firms aiming to work with the federal government for superior technology access. With over 35 years in the Army, serving as Army Program Executive Officer Ground Combat Systems, Program Executive Officer Command Control Communications Tactical, and Deputy Program Executive Officer for Combat Support and Combat Service Support, and retiring as Director of Defense Contract Management Agency, he managed 250,000 contracts worth $3.5T. Mr. Bassett holds Master’s Degrees in National Resource Strategy and Computer Science, and a Bachelor’s Degree in Electrical Engineering from the University of Virginia. As Integral Federal's Chief Financial Officer, Manuel Mendez leads business operations, supporting strategic direction and growth. He manages financial planning, reporting, compliance, mergers, acquisitions, auditing, program finance, contracts, IT, quality, and pricing. Previously, he served as VP of Financial Planning and Analysis at PAE, facilitating its divestiture, IPO, acquisitions, and sale to private equity. With senior financial roles at Engility and Harris Corporation, Mendez brings extensive experience. He holds a B.S. in Industrial Engineering from Universidad de Los Andes and an M.B.A. from Georgetown University. Joy White, Executive Director at Space Systems Command (SSC) has been reappointed to the Board. Ms. White oversees a $15B annual portfolio of major acquisition space programs, ensuring agile, integrated, and resilient capabilities for national defense. She leads SSC's business operations, talent management, and acquisition functional expertise for the United States Space Force, overseeing a workforce of 15,000 personnel at 29 operating locations. Ms. White started her federal service as a contracting intern at SSC and has a diverse background including legal analysis and advisory roles at the Office of the Assistant Secretary of the Air Force for Acquisition. Also reappointed, Major General Cameron Holt (US AF Retired), President at Exiger Government Solutions. Mr. Holt formerly served as Deputy Assistant Secretary for Contracting, Office of the Assistant Secretary of the Air Force for Acquisition, Technology, and Logistics. Leading a team managing $825B in programs, he focused on Space, Global Power/Reach, and Information Dominance. He also supervised the training, organization, and equipping of 8,000 Contracting professionals handling over $65B in programs annually. Receiving his commission from the University of Georgia in 1990, Mr. Holt has extensive experience in acquisition and contract management across major commands and deployments supporting Operation Enduring Freedom. "It has been an honor to work with Wendy Masiello and Heidi Timmerman for their support and guidance over their two terms. They have been instrumental in navigating NCMA through a period of growth and change," said NCMA Chief Executive Officer, Kraig Conrad. "I am pleased to welcome in our new Board Members, their impressive experience will be invaluable to help grow our Common Language, certifications, and professional development avenues for our community." The NCMA Board of Directors is responsible for setting the strategic direction of the organization, ensuring its financial stability, and overseeing the development and delivery of member services and educational programs. The NCMA Contract Management Standard™ (CMS™) is an important program for the Board as the ANSI-approved standard covers the many practices within the contract management life cycle, including procurement and purchasing. Board members serve three-year terms. Beginning July 2024, the newly appointed Board will officially assume their duties and convene at NCMA's World Congress conference in Seattle, WA. The National Contract Management Association (NCMA) – www.ncmahq.org – has grown as a professional society whose mission is to collaborate towards a globally recognized contract management profession that strengthens its nexus with related acquisition communities. Serving approximately 20,000 members in both the public and private sectors, NCMA propels the growth, advancement, and impact of practitioners through a steadfast commitment to serve through the open exchange of ideas in neutral forums. Contact Details National Contract Management Association Holly DeHesa +1 281-865-3296 holly.dehesa@ncmahq.org Company Website https://www.ncmahq.org

March 21, 2024 05:00 AM Eastern Daylight Time

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NCMA's Announces New Members to their National Committee

National Contract Management Association

At the National Contract Management Association (NCMA), the focus on providing high-quality resources— events, professional certifications, local networking, and the ANSI-approved Contract Management Standard™ —that positively advance and expand the contract management profession remains the top priority. To help to continue strengthen the association’s strategic direction and growth, NCMA is excited to announce its new National Committee Members, who bring a wealth of experience and expertise to guide their endeavors forward. “Our National Committee Members are essential in providing a platform for meaningful planning and growth for our members and association,” said NCMA’s Board-Chair Elect, Heather Gerczak. “They will be instrumental in inspiring innovation and refining our strategy. I am thrilled to welcome our new members and am excited to collaborate in Program Year 2025.” The National Committee members are seasoned professionals with impressive track records in their respective fields. NCMA welcomes: Joann Campbell-Maher, CPCM, CFCM, CCCM, Director of Contracts, SRC Inc., Chapter: Leatherstocking Chapter Will Cannon, Director of Business Operations, General Atomics Chapter: San Diego Jim Doss, Fellow, CPCM, CFCM, Director of Contracts, BlueHalo, Chapter: Tysons Derek Ebona, CPCM, Chief of the Contracting Office, Program and System Support for Contracting and Procurement Office, Defense Counterintelligence and Security Agency, Chapter: Tysons Jessica Johnson, CPCM, CFCM, VP, Services Contracts at Red River Technology, Chapter: Dulles Corridor Wanda Wallace, CPCM, CFCM, Senior Contracts Manager at Magellan Federal, Chapter: Jacksonville This year’s National Committees Members were elected through a competitive application and voting process. These members make a lasting impact on NCMA. The Committees are made up of five groups including audit and risk, governance and ethics, member engagement, professional development and certification, and strategic planning. All who have served have played an instrumental role in helping to shape the associations’ strategy and direction. The National Contract Management Association (NCMA) – www.ncmahq.org – has grown as a professional society whose mission is to collaborate towards a globally recognized contract management profession that strengthens its nexus with related acquisition communities. Serving approximately 20,000 members in both the public and private sectors, NCMA propels the growth, advancement, and impact of practitioners through a steadfast commitment to serve through the open exchange of ideas in neutral forums. Contact Details Holly DeHesa +1 281-865-3296 holly.dehesa@ncmahq.org Company Website https://www.ncmahq.org

March 19, 2024 05:00 AM Eastern Daylight Time

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Arksen: engineering the future of eco-friendly adventure and exploration

Arksen Ltd

Arksen Ltd CEO Jasper Smith tells Proactive's Stephen Gunnion that the UK-based design and engineering company is focused on creating products for adventure enthusiasts, including explorer vessels, overland vehicles, and apparel, underpinned by a philosophy of sustainable and authentic design. Founded around four years ago, Arksen has grown significantly, aiming to challenge industry norms by adhering to circular economy principles, emphasizing the manufacture of products within planetary boundaries. Smith highlighted the company's commitment to environmental respect, comparing its growth strategy to established brands through OEM manufacturing and low overheads paired with significant investments in intellectual property and marketing. Outlining Arksen's multifaceted market approach, Smith said the company sells directly, through a growing dealer network expected to expand from seven to eighty dealers, and via agents and brokers for larger, bespoke products. It targets a wide customer base, from high-net-worth individuals and corporations seeking research vessels to consumers interested in their apparel line. The market across Arksen's sectors is large, with a 7% compound annual growth rate and a total size of about $840 billion, undergoing transformations towards sustainability and changing consumer behaviors. Arksen plans to raise £6 million for expansion, particularly in the US, where 60-70% of its engagement lies. This funding, coupled with potential government-backed debt from a £4 billion investment into the UK shipbuilding industry, aims to scale production and meet dealer demand. Additionally, Smith discussed "10% for the Ocean," a philanthropic initiative supporting ocean conservation, reflecting the company's commitment to environmental stewardship alongside its business objectives. Contact Details Proactive UK Proactive UK +44 20 7989 0813 UKEditorial@proactiveinvestors.com

March 14, 2024 08:36 AM Eastern Daylight Time

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Pyxis Tankers chairman and CEO discusses strong performance and fleet expansion

Pyxis Tankers Inc

Pyxis Tankers Inc (NASDAQ:PXS) chairman and CEO Valentios (Eddie) Valentis, provides an update on the company's performance and future plans in an interview with Proactive's Stephen Gunnion. For the nine months ending September 2023, the company reported net revenues of $32.2 million and an adjusted EBITDA of approximately $15 million, with fully diluted earnings per share at $1.21. The average daily time charter equivalent for the MRs in Q4 increased to about $30,500 per day, with bookings for Q1 2024 at approximately $29,200 for 75% of available days. Pyxis Tankers maintains a solid balance sheet and liquidity, having completed the sale of the 2015-built MR at a record price, realising a gain of over $17 million. The fleet currently includes three eco-efficient MR tankers with an average age of approximately nine years and has expanded into the dry bulk sector with the acquisition of three vessels, bringing the total fleet to five. The company is exploring further acquisitions, particularly in the eco-friendly dry bulk space, and remains positive about the market conditions for both tanker and dry bulk sectors, despite geopolitical tensions and weather-related disruptions. Pyxis Tankers has repurchased 7% of its outstanding float and holds approximately 400,000 shares of Series A convertible preferred stock, trading under the symbol PXS AP. Contact Details Proactive North America Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com

March 12, 2024 09:56 AM Eastern Daylight Time

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New Horizon Aircraft Report Findings: 96% of Professional Investors Are Keeping An Eye On Transport Of The Future As Companies Advance eVTOL Technology

Benzinga

By Faith Ashmore, Benzinga The technology of Hollywood may finally be catching up to real life in another area. In the realm of electric vehicles (EVs), electric Vertical Take-Off and Landing (eVTOL) aircraft have gotten some attention from the press, the public and investors. From large international majors like Hyundai (OTCMKTS: HYMTF) to newer eVTOL companies like New Horizon Aircraft (NASDAQ: HOVR) (“Horizon Aircraft”), eVTOLs may be the way of the future. With population growth and urbanization on the rise, traffic congestion is becoming a pressing concern for citizens and city planners alike. A recent study conducted in the U.S., France, Germany and the U.K. reveals that road congestion results in up to $200 billion in lost productivity annually. Governments are also racing to transition away from gasoline-powered vehicles that contribute to global emissions and climate change. Advanced Air Mobility (AAM) offers a cost-effective, environmentally friendly and safer way to travel, presenting a disruptive alternative to traditional air travel and cargo systems. eVTOLs are among the solutions for the future. Horizon Aircraft is working on its prototype eVTOL, the Cavorite X7, which is designed for longer-range regional passenger, cargo and special missions. Their 50%-scale prototype has already successfully demonstrated hover flight and the company believes it may complete a successful transition flight before the end of Q1 of 2024. One of the key aspects that sets Horizon Aircraft apart from competitors like Joby Aviation (NYSE: JOBY) and Lilium NV (NASDAQ: LILM) is that it prides itself on the expertise of its team, comprised of professionals with extensive backgrounds in the aviation industry. Led by a highly skilled former fighter pilot, the company leverages collective knowledge gained from years of military and commercial aviation experience. The rest of the team at Horizon Aircraft consists of a group of engineers, pilots and business specialists who are committed to pushing the boundaries of regional transportation. The company is also vertically integrated; all of its composite manufacturing, 3D printed advanced carbon fiber thermoplastics, custom electronics, control systems and more are completed in-house. The company boasts that its product takes off and lands like a helicopter but has the capacity to fly almost twice as fast with lower operating costs. Unlike most of its competitors, Horizon’s Cavorite X7 uses a hybrid electric power system that should enable a top speed of 450 km/h, carrying 1,500 lbs of useful load for more than 800 km. A recent report by Morgan Stanley predicts that AAM will encompass a total addressable market of $1.5 trillion by 2040. “The intersection of many technologies, such as ultra-efficient batteries, autonomous systems, and advanced manufacturing processes are spawning a flurry of activity in this space," shared Adam Jonas, Head of Morgan Stanley's Global Auto and Shared Mobility research team. Horizon Aircraft also recently published a global study that showed an overwhelming majority (96%) of professional investors recognize the increasing global demand for improved transportation systems, coupled with the imperative to reduce the environmental footprint resulting from increased road congestion. The study’s findings included that investors also believe the advancements in technology that demonstrate the safety and feasibility of eVTOL aircraft will catalyze movement in the regulatory landscape and attract substantial investments to the sector within the next five years. Horizon Aircraft is looking to capitalize on these markets. Brandon Robinson, CEO of Horizon Aircraft, shared, "Private equity, venture capital and family office investors have been closely monitoring the Advanced Air Mobility sector for some time, but are now seeing an acceleration towards the launch of the first commercial eVTOL passenger routes. The sector has already attracted significant investment, and we anticipate that this will only increase as ongoing developments in technology provide new investment opportunities in this rapidly expanding market that has the potential to revolutionize transportation." Featured photo courtesy of Horizon Aircraft. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

March 12, 2024 08:25 AM Eastern Daylight Time

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A Call to Action: Revitalizing U.S. Maritime Security for Global Stability and Prosperity

MAR LLC

Rarely is there a day without international shipping in the news. From Yemen's Houthi militants attacking shipping in the Red Sea, maritime food blockades around Ukraine, rising hostilities in the South China Sea, drought reducing traffic through the Panama Canal by almost 50%, global shipping is receiving more attention than ever before. And yet barely four years after the COVID-19 pandemic, supply chain crunch, blockade of the Suez Canal by the containership Ever Given, the vulnerabilities of the maritime transportation system remain and more needs to be done to protect American interests. ZERO POINT FOUR sheds light on the industry in a way that has never been done before. Bold new solutions are called for and revealed from this cutting analysis after years of working on the front lines of the shipping crisis. If you want to get a strong understanding of why the U.S. remains vulnerable to supply chain risks and a shortage of military sealift support, then this book is required reading. After years of extensive research, The Maritime Accelerator for Resilience (MAR) released the findings of its landmark study in a book entitled ZERO POINT FOUR, spearheaded by Rear Admiral James Watson (USCG Ret.) and an esteemed panel of maritime, security, ocean and supply chain experts. This critical analysis delves into the challenges and strategic imperatives facing U.S. maritime security, emphasizing its indispensable role in global commerce, national defense, and international peacekeeping and offering near, medium and long term leadership opportunities to mitigate America’s vulnerabilities. In an era marked by complex global challenges, the U.S. maritime sector's decline to a mere 0.4% of the global oceangoing commercial fleet signifies not just a loss of commercial prominence but also a critical vulnerability in national security and global economic stability. ZERO POINT FOUR offers a stark examination of the consequences of diminished U.S. influence on the seas, from eroding economic competitiveness to heightened risks in global supply chains, energy dependence, and environmental sustainability. The book highlights five key principles around security—national, economic, energy and food, climate, and workforce-- and outlines a visionary framework for action, advocating for strategic investments in maritime infrastructure, technological innovation, and a revitalized maritime workforce. These initiatives aim to restore the U.S. as a global maritime leader, ensuring the safety, efficiency, and sustainability of international shipping lanes crucial for the flow of trade, energy, and resources worldwide. Furthermore, ZERO POINT FOUR calls for enhanced international maritime cooperation to tackle piracy, illegal fishing, and environmental hazards, reinforcing the U.S. commitment to upholding the rule of law on the high seas and fostering a climate of global peace and cooperation. The impetus for the book came from the author’s recognition of the US’s vulnerability in maritime security, and its impact on all aspects of American life. From the post-World War II period when 50% of all oceangoing commercial vessels were under the US flag to today’s 0.4%, an unsustainable shift of power and influence has occurred which needs to be remedied. In addition to Rear Admiral Watson, authors include maritime mavens Carleen Lyden Walker and Captain Anuj Chopra, technology and sustainability economist Nishan Degnarain, cyber security, physical security, and enterprise resilience veteran Rich Mason, and global supply chain specialist Jonothan Kempe. The Maritime Accelerator for Resilience urges all stakeholders — government officials, industry leaders, and the public — to unite behind these proposals. By doing so, the U.S. can secure a future where its maritime domain not only thrives but also serves as a cornerstone for global trade, environmental stewardship, and international peace. ZERO POINT FOUR is available for purchase on Amazon using this LINK. The Maritime Accelerator for Resilience (MAR LLC) is a U.S.-based maritime organization operating as a maritime policy accelerator and is dedicated to propelling the U.S. maritime industry into a new era of innovation, security, and global leadership. Collaborating with influential figures in shipping, ocean policy and innovation, MAR aims to advance policy, technology, and operational strategies that enhance maritime resilience and competitiveness. Our vision is to motivate the U.S. maritime industry to global competitiveness, navigating challenges and embracing opportunities in the next decade. For more details, visit: www.maritimeresilience.org Contact Details MAR LLC Carleen Lyden Walker +1 203-260-0480 carleen.lw@maritimeresilience.org

March 11, 2024 01:00 AM Eastern Daylight Time

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Ocean Power Technologies secure key deal for WAM-V Unmanned surface vehicles

Ocean Power Technologies Inc

Ocean Power Technologies CEO Philipp Stratmann joined Steve Darling from Proactive to share exciting news about the company's success. Ocean Power Technologies has received multiple orders for fully integrated WAM-V Unmanned Surface Vehicles, totaling over $1.25 million. This significant achievement underscores the growing demand for OPT's advanced marine technologies and their applications in various fields such as maritime surveillance, environmental monitoring, and ocean data collection. The WAM-V USV represents the cutting edge of maritime innovation, offering superior performance in diverse ocean conditions. Its versatility and reliability make it an ideal choice for a wide range of marine applications, from data collection to security surveillance and environmental monitoring. Stratmann highlighted that the recent commercial orders have come from clients in Latin America, demonstrating the broad capabilities and applications of the WAM-V USVs. OPT's commitment to delivering customizable and scalable solutions has positioned the company as a preferred partner in the industry. Overall, this success reflects Ocean Power Technologies' dedication to providing innovative solutions that meet the evolving needs of the marine industry, and it marks an exciting milestone in the company's journey towards continued growth and impact in the field of marine technology. Contact Details Proactive North America Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com

February 28, 2024 05:30 AM Eastern Standard Time

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ASTRO America joins Government of Guam and US Navy for Announcement of ‘Project Plan’ for 3D Printing Center on Guam

ASTRO America

The Applied Science & Technology Research Organization of America ( ASTRO America ) joined Governor Lourdes A. Leon Guerrero of Guam and U.S. Navy Rear Admiral Scott Pappano, Program Executive Officer, Strategic Submarines (PEO SSBN) at a joint meeting last week, where they announced a project plan for building an additive manufacturing (AM) technology and workforce education center on Guam. This project is the culmination of efforts, spearheaded by the Governor over two years ago, to bring industrial additive manufacturing (or 3D Printing) to the island in order to diversify and expand Guam’s economy. She and her administration commissioned a study by ASTRO America, a manufacturing policy think-tank, to evaluate the feasibility of bringing such technology to Guam. A strong advocate for modernizing submarine production and addressing material readiness challenges through advanced technology, Rear Adm. Pappano and his team became natural partners, especially as they implement and scale innovative solutions to modernize America’s submarine industrial base. The new center is envisioned to serve a dual mission of: 1) Advancing national security by giving the submarine industrial base abilities to print components on-demand at the point-of-need. 2) Supporting economic development in Guam, forming a workforce skilled in key science, technology, engineering, and mathematics (STEM) careers, while also building out a new industry sector on-island, capable of delivering complex ship components. “Our announcement marks an historic inflection point for both the Government of Guam and the United States Submarine Industrial Base,” said ASTRO America President Neal Orringer (former Department of Defense Director of Manufacturing). “Working together, we will build an innovative and resilient technology base. Not only will we train a new generation of advanced manufacturing engineers, and operators but we will ensure the Navy’s access to critical capabilities for prototyping, producing, and validating key parts, components, and materials through advanced manufacturing and 3D printing capability.” The project plan discussed by Governor Leon Guerrero and Rear Adm. Pappano involves three key phases to develop and sustain submarine industrial base capabilities in the Indo-Pacific. PHASE 0: Structure and Business Plan. This phase, announced earlier this year, includes designing an advanced manufacturing technology and education center on Guam, with plans to procure, position, and operate industrial equipment on the island. A satellite campus at the University of Guam will be comprised of several partners that are mainland U.S.-based universities with leading industrial manufacturing higher education programs. This concept will include strategies for the campus’ long-term training, operation, and sustainment. Additionally, details for building capabilities on-site for part-production and test/evaluation will be developed, in concert with leading submarine industrial base and government officials to ensure supply can meet demand in Guam. PHASE 1: Staging and Transition. Based on the plans and concepts established in Phase 0, while the Government of Guam is constructing a permanent facility, the team will procure equipment and position technology appropriately within shipping container modules to establish initial capability, and determine optimal factory equipment and large-scale testing configuration for qualification of advanced shipbuilding tools and components. The campus will be operational, enrolling students with appropriate support staff and technology integration. Additionally, use-cases will demonstrate effectiveness of the team’s short- and long-term approach to part prototyping and validation. PHASE 2: Deployment and Operational Launch. In the next stage, modules with 3D production and advanced inspection equipment will be positioned and transitioned for implementation on Guam. Coursework will be underway for students in Guam for on-island credentialed higher education, as well as prototyping and testing/evaluation of naval ship production parts to support the submarine supply chain. Each of these phases will be carried out in close coordination with and direction from another leading defense nonprofit organization, BlueForge Alliance (BFA), which serves as project integrator for the submarine industrial base’s broad-based initiatives across every region of the United States. At the meeting, Governor Leon Guerrero and Rear Adm. Pappano affirmed their joint commitment to this project plan, including support from the Guam Economic Development Authority and University of Guam in establishing a facility and investments by BFA on behalf of the Navy to advance common goals, including enabling the future tri-lateral AUKUS partnership. The project’s success will be measured by the team’s efforts to catalyze growth of a specialized advanced manufacturing workforce, as well as necessary capabilities to produce parts that will meet growing national security needs for the submarine industrial base. “I am pleased to join Rear Admiral Pappano in developing this project plan, informed by the input of public and private entities across the island of Guam,” said Governor Leon Guerrero. “This plan will create new job opportunities for Guam while contributing to America’s national security interests. It’s a win-win.” “The Navy is excited to be working with the Government of Guam and the great team at ASTRO on this vital mission to further the national imperative for advanced manufacturing capability and the workforce to execute those requirements in a strategic location that directly benefits our ships and submarines,” said Rear Adm. Pappano. ASTRO will continue to manage this effort, with support from both the U.S. Navy and the Government of Guam. The project is expected to be informed by Phase I of the feasibility study completed for the Guam Economic Development Authority last year, as well as the second report being completed with the Guam Bureau of Statistics and Plans. That forthcoming report is focused on developing an implementation plan to establish an ecosystem tailored to distinct advanced manufacturing and AM requirements, as well as the unique economic and geo-political conditions on Guam. Both agencies will play roles in the new project that advances both economic and security needs through AM development on the island. For more information on this project, click here. The Applied Science and Technology Research Organization of America (ASTRO America) is a 501(c)(3) not-for-profit, non-partisan Research Institute and Think Tank. It was established in 2018 to advance the public interest through manufacturing technology and policy. Led by manufacturing professionals with broad public and private sector experience, ASTRO America supports collaborations by government agencies and companies to address supply chain challenges in highly regulated industries, including aerospace and defense. Find out more: https://www.astroa.org/ Contact Details Elizabeth Heaton +1 202-445-9858 elizabeth@astroa.org Company Website https://www.astroa.org

February 27, 2024 12:42 PM Eastern Standard Time

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Stifel North Atlantic and ASTRO America Announce a First-of-its-Kind Private Equity Fund Under New DOD-SBA Initiative

ASTRO America

Small Business Administrator Isabel Guzman and National Economic Council Director Lael Brainard announced at a White House event last Wednesday that the partnership between Stifel North Atlantic (NYSE: SF) and ASTRO America is the first recipient of a “Green Light” to raise private capital for an SBIC Critical Technologies (“SBICCT”) fund. Officially called the AM Forward Critical Technologies SBIC, the Fund is actively fundraising and moving forward with the final SBA licensing process. The SBA-DoD SBICCT initiative is the first program under a historic SBA-DoD collaboration, launched by Secretary of Defense Lloyd Austin and SBA Administrator Guzman in December 2022. By pairing private capital with SBA administered leverage, the initiative will support private sector investment in US national security-vital component-level technologies and production processes. The structure will achieve the important mission of bolstering U.S. national security and the Defense Industrial Base without reliance on deficit funding, while supporting American small businesses. “This new Fund is important to both our national security and American competitiveness,” said ASTRO co-founder and President, Neal Orringer. “Not only will it provide essential financial support to small and medium-sized manufacturers, but it will help modernize key supply chains, helping accelerate adoption of technologies such as metal 3D printing that are increasingly important to America’s defense and aerospace industries.” He continued, “We are grateful for the DoD and SBA’s leadership in developing innovative approaches for catalyzing the injection of private capital into critical defense supply chains, at no cost to the taxpayer.” ASTRO America leads the White House’s AM Forward initiative, which includes a compact between the Administration and seven iconic American lead system integrators. The AM Forward member companies identified access to capital as a key barrier to eliminating bottlenecks, modernizing and increasing resiliency within their supply chains, particularly in metal castings and forgings. In early 2023, ASTRO selected Stifel North Atlantic as the financial partner to manage the SBIC Fund based on Stifel’s rich history of support for small and middle market companies and extensive experience managing SBIC Funds. ASTRO will lead the Fund’s Technical Advisory Board. “We are deeply committed to both our unique partnership in the SBICCT fund as well as with the SBA more broadly,” shared Victor Nesi, Stifel Financial Co-President. “The SBA has made remarkable progress in developing innovative ways to reach out, support and nurture the small business ecosystem that is so foundational to our organization. We are also grateful for the thought leadership provided to this project by key AM Forward member Lockheed Martin (NYSE: LMT).” Mike Nitka, Managing Director at Stifel North Atlantic offered, “This fund is a rare opportunity to mix purpose and passion. We are advancing the adoption of mission-ready production technology for the US aerospace and defense supply chain while supporting the journey of emerging US small businesses. Through this revolutionary partnership with the SBA, DoD, ASTRO America, and our anchor investors, we have the opportunity to create jobs and build US manufacturing capacity. I applaud all involved as this is a truly unique non-partisan approach to solving for a universal American need – national security.” During the event, in addition to key Biden-Harris Administration officials from the White House, SBA and DoD, Stifel and ASTRO executives also met with leading investors from the financial industry and executives from major aerospace and defense companies. With committed strategic and financial investors, Stifel North Atlantic and ASTRO expect to complete the final phase of the SBICCT licensing process and execute a first closing on the Fund in the coming months. After the initial closing, the Fund will begin actively investing in small business manufacturers to help strengthen the U.S. aerospace and defense supply chains. The White House readout of the event can be read here and the SBA overview of the event can be read here. More information on the SBA-DoD SBICCT initiative can be found here. The Applied Science and Technology Research Organization of America (ASTRO America) is a 501(c)(3) not-for-profit, non-partisan Research Institute and Think Tank. It was established in 2018 to advance the public interest through manufacturing technology and policy. Led by manufacturing professionals with broad public and private sector experience, ASTRO America supports collaborations by government agencies and companies to address supply chain challenges in highly regulated industries, including aerospace and defense. Find out more: https://www.astroa.org/ Established in 1890, with headquarters in St. Louis, Missouri, Stifel is a full-service financial services firm with a distinguished history of providing securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, institutions, corporations, and municipalities. Contact Details Elizabeth Heaton +1 202-445-9858 elizabeth@astroa.org Company Website https://www.astroa.org

February 21, 2024 07:00 AM Eastern Standard Time

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