"[T]he Department of Defence entered into a $33.6 million agreement with eMagin Corporation to sustain and expand critical industrial base production of organic light-emitting diode (OLED) microdisplays capable of meeting high-performance requirements in resolution and brightness", the release said on Friday.
The Defence Department has also entered into a $14.9 million agreement with Meggitt-Rockmart to increase domestic production capability and capacity of military-grade fuel bladders for use in a wide range of US military aircraft platforms, the release read.
In addition, the Defence Department entered into a $28.8 million agreement with Urban Mining Company to assist in developing a domestic source for Neodymium Iron Boron rare earth permanent magnets, the release added.
The magnets are essential components for many Defence Department programs that enable miniaturization and high performance of guidance, propulsion, and power systems, according to the release.
The Defence Production Act Title III program, which was first signed into law in 1950 and was last renewed in 2018, provides the US President broad authority to ensure the timely availability of essential domestic industrial resources to support national defence and homeland security requirements through the use of highly tailored economic incentives, the Defence Department website says.