Modernization of Navy Grade Plate Steel
SMI’s client is the sole manufacturer of plate steel used for the construction of U.S. Navy submarines and aircraft carriers. In order to meet the Navy’s demand to reduce the cost and time to produce carriers and subs, improvements were needed to increase the quality and quantity of plate steel provided to the shipyards.
SMI worked with the client to develop and implement a strategy to secure Defense Production Act (DPA) Title III funding. The DPA Title III program seeks to incentivize companies to create, maintain, or expand domestic production capacity of items deemed essential for national defense by reducing a manufacturer’s financial and business risk.
SMI is the leading government affairs firms assisting companies navigate the complex DPA Title III program approval process and secure funding. SMI successfully helped the client secure $21 million in DPA Title III funding to ensure the cost and time efficiencies the Navy is demanding for current and future manufacturing of submarines and aircraft carriers.