CVD Equipment Corporation Receives System Order to Develop High Performance Battery Materials for Electric Vehicles

Rhea-AI Summary

CVD Equipment Corporation (NASDAQ: CVV) announced a significant order for a CVD/ALD system from Georgia Institute of Technology, intended for high-performance nanomaterial coating in EV battery applications. The system, designed for R&D and scalable pilot production, combines chemical vapor deposition (CVD) and atomic layer deposition (ALD) processes. This strategic order aligns with CVD's objective to enhance its presence in the lithium-ion battery market, supporting cost-effective manufacturing of EV materials, which is pivotal as the industry transitions from research to production.

Positive

• Received CVD/ALD system order from Georgia Institute of Technology for EV battery applications.
• System designed for R&D and scalable for pilot production.
• Supports cost-effective manufacturing of EV electrode materials.

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• None.

CENTRAL ISLIP, N.Y.--(BUSINESS WIRE)-- CVD Equipment Corporation (NASDAQ: CVV), a leading provider of chemical vapor deposition systems, today announced that it has received a CVD/ALD (Atomic Layer Deposition) system order from Georgia Institute of Technology. This system will be used to coat powders with high performance nanomaterials for electric vehicle (EV) battery applications.

CVD Equipment plans to design and manufacture the system as a standard product platform to coat powders for Research and Development (R&D) which can be scaled for pilot production. This system features a tumbling bed to coat powders uniformly and will have the capability of both chemical vapor deposition (CVD) and atomic layer deposition (ALD) processes. ALD is a thin film deposition process that allows for atomic layer thickness resolution, excellent conformity of high aspect ratio surfaces, and pinhole-free layers. This is achieved by the sequential formation of atomic layers in a self-limiting reaction.

As EV battery technology moves from R&D to production, CVD Equipment Corporation is well positioned to support its customers with turnkey equipment solutions enabling cost effective manufacturing of EV electrode materials. Coating powders with carbon, silicon nanowires, and emerging nanomaterials provide opportunities to improve battery performance and decrease costs per kWh.

“CVD is pleased to receive this order and we are excited to have been awarded this order as we continue to focus on growing our market presence in the lithium-ion battery and electric vehicle emerging markets,” said Emmanuel Lakios, President and CEO of CVD Equipment Corporation.

About CVD Equipment Corporation

CVD Equipment Corporation (NASDAQ: CVV) designs, develops, and manufactures a broad range of chemical vapor deposition, gas control, and other state-of-the-art equipment and process solutions used to develop and manufacture materials and coatings for research and industrial applications. This equipment is used by its customers to research, design, and manufacture these materials or coatings for aerospace engine components, medical implants, semiconductors, battery nanomaterial, solar cells, smart glass, carbon nanotubes, nanowires, LEDs, MEMS, and other applications. Through its application laboratory, the Company provides process development support and process startup assistance with the focus on enabling tomorrow’s technologies™. It’s wholly owned subsidiary CVD Materials Corporation provides advanced materials and metal surface treatments and coatings to serve demanding applications in the electronic, biomedical, petroleum, pharmaceutical, and many other industrial markets.

The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by CVD Equipment Corporation) contains statements that are forward-looking. All statements other than statements of historical fact are hereby identified as “forward-looking statements, “as such term is defined in Section 27A of the Securities Exchange Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward looking information involves a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those discussed or anticipated by management. Potential risks and uncertainties include, among other factors, market and business conditions, the COVID-19 pandemic, the success of CVD Equipment Corporation’s growth and sales strategies, the possibility of customer changes in delivery schedules, cancellation of, or failure to receive orders, potential delays in product shipments, delays in obtaining inventory parts from suppliers and failure to satisfy customer acceptance requirements. Past performance in not a guaranty of future results.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220329005112/en/

Thomas McNeill, EVP and CFO

Phone: (631) 981-7081

Fax: (631) 981-7095

Email: investorrelations@cvdequipment.com

Source: CVD Equipment Corporation

FAQ

What recent order did CVD Equipment Corporation (CVV) receive?

CVD Equipment Corporation received a CVD/ALD system order from Georgia Institute of Technology for EV battery applications.

How will the CVD/ALD system be used?

The system will coat powders with high-performance nanomaterials for electric vehicle battery applications.

What capabilities does the new CVD/ALD system offer?

The system features capabilities for both chemical vapor deposition (CVD) and atomic layer deposition (ALD) processes.

What is the significance of this order for CVD Equipment Corporation?

This order enhances CVD's market presence in the lithium-ion battery sector as it transitions from R&D to production.