Sharps Technology Accelerates $50M SoloGard Supply Agreement with Second Shipment and Major Manufacturing Upgrades

June 18, 2025

DENVER, Colo., Jun 18, 2025 (247marketnews.com)- Sharps Technology (NASDAQ:STSS) provided an update on its progress fulfilling the first orders under its $50 million SoloGard supply agreement, and announced the initiation of key manufacturing upgrades to support long-term production growth.

The Company has commenced its second commercial shipment of SoloGard smart safety syringes under the multi-year supply agreement with a prominent U.S. healthcare company focused on IV flushing solutions. In anticipation of accelerating demand through the second half of 2025, Sharps is implementing a suite of manufacturing enhancements aimed at increasing output, optimizing cleanroom operations, and improving energy efficiency.

Robert Hayes, CEO of Sharps Technology, stated, “Fulfilling this second shipment marks a significant milestone as we move into commercial execution under the $50 million SoloGard agreement. Over the past several months, we’ve made strategic investments in advanced molding systems, automation, and cleanroom infrastructure. These are transformational upgrades that expand capacity while improving energy efficiency, consistency, and our overall cost structure. These enhancements are central to our long-term strategy, allowing Sharps to fulfill major contracts, scale recurring revenue, and position the Company as an innovation-driven manufacturing partner to the healthcare industry.”

As part of its phased upgrade strategy, Sharps is undertaking the following initiatives:

  • Fulfillment of the second shipment under the SoloGard contract to meet ongoing demand
  • Deployment of advanced injection molding systems to expand production capabilities
  • Installation of new equipment offering 10x greater energy efficiency, driving cost savings and sustainable manufacturing
  • Upgrades to cleanroom environments and control systems to improve product quality and maintain regulatory compliance
  • Integration of ancillary systems to boost throughput and streamline molding and assembly workflows

Sharps is currently executing a $400,000 purchase order, announced June 4, 2025, as part of the five-year agreement to supply up to 500 million SoloGard syringes. The contract includes the FDA- and WHO-approved 10mL SoloGard smart safety syringe, featuring ultra-low waste technology, standard luer lock compatibility, and built-in re-use prevention to enhance patient safety.

These developments mark Sharps’ transition into full-scale commercial production, with expanded infrastructure positioning the Company to meet growing healthcare market needs in the U.S. and globally.

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