Since the late 1980s, the Cooperative Research and Development Agreement (CRADA) has been a prominent vehicle used to support collaboration between US federal laboratories and private firms. This paper examines the structure and goals of one of the most ambitious CRADAs conducted to date, the EUV CRADA, which involves three Department of Energy laboratories and leading US firms in the semiconductor industry and is aimed at the development of next-generation lithographic technologies. This large project is an important case study in 'post-Cold-War' technology policy and government-industry collaboration. Although the EUV project represents significant improvements in the design and management of CRADAs, it also illustrates the inherent difficulties of balancing political and economic goals in complex technology development programs.