CVD MesoScribe Technologies Awarded US Air Force Contract Valued at $750K

Rhea-AI Summary

CVD Equipment Corporation (NASDAQ: CVV) announced that its subsidiary, CVD MesoScribe Technologies, has secured a Small Business Innovation Research (SBIR) Phase II contract worth approximately $750K. The two-year contract, effective March 11, 2021, from the Air Force Research Laboratory aims to advance MesoScribe’s Direct Write technology for high-definition coatings on gas turbine engine components. This project builds on a Phase I contract from January 2020 focused on developing printed sensors for hypersonic flight systems. Both contracts are expected to enhance manufacturing capabilities in aerospace applications.

Positive

• Awarded a $750K SBIR Phase II contract, enhancing funding and visibility.
• Contract supports development of advanced technologies for aerospace applications.
• Successful completion of Phase I SBIR contract indicates strong prior performance.

Negative

• None.

CVD Equipment Corporation (NASDAQ: CVV), announced today that its subsidiary, CVD MesoScribe Technologies Corporation has been awarded a Small Business Innovation Research (SBIR) Phase II contract, valued at approximately $750K. The two (2) year contract was awarded following successful completion of the Company’s Phase I SBIR contract with the Air Force.

The Phase II SBIR contract was issued on March 11^th, 2021 by the Air Force Research Laboratory (AFRL) at Wright Patterson AFB, OH to further develop MesoScribe’s Direct Write technology to deposit high quality metallic and ceramic coatings onto gas turbine engine components. The Phase II contract will develop the technology to enable high-definition coatings onto knife edge seal components to meet US Air Force 76 PMXG qualification specifications, while eliminating traditional part masking requirements.

This follows a SBIR Phase II contract which was issued in January of 2020, by Arnold Engineering Development Center, Arnold AFB, to develop printed temperature and heat flux sensors to support hypersonic flight system testing, evaluation, and application development. MesoScribe’s additive manufacturing technology, MesoPlasma™ printing will be used to fabricate sensors onto ceramic matrix composite (CMC) materials and tested in high temperature environments representative of hypersonic flight.

“The two Phase II projects will enable the development of integrated sensor products on carbon-carbon and oxide-based CMC materials as well as provide cost effective solutions to deposit coatings onto knife edge seal engine components. The proposed technology development will not only benefit the hypersonics community but provides opportunities to solve material challenges associated with sensor integration onto CMC parts within advanced gas turbine engines. We look forward to working with our Air Force program sponsors and stakeholders to validate MesoScribe’s sensor performance in high temperature environments,” said Dr. Jeff Brogan, Vice President of Sales and Marketing.

“We are excited for this opportunity to leverage our prior efforts in sensor fabrication and material printing to develop new products. This effort in CMC instrumentation is aligned with our CVD Equipment focus on manufacturing chemical vapor deposition systems to coat silicon carbide fibers and CMC preform materials in our aerospace and defense markets,” Brogan said.

“MesoScribe continues to explore new areas of additive manufacturing and MesoPlasma™ printed instrumentation in emerging aerospace applications, providing opportunities to support critical manufacturing initiatives,” said Manny Lakios, President and Chief Executive Officer.

About CVD MesoScribe Technologies Corporation

CVD MesoScribe Technologies Corporation (DBA, MesoScribe Technologies) specializes in materials processing using Direct Write MesoPlasma™ printing technology, an additive manufacturing process. Sensors, heaters, and antennas are deposited onto conformal parts for demanding applications. The Company provides MesoPlasma™ printing services and products for use in aerospace, defense, and energy markets.

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, 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 electronics, aerospace, 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, conditions, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210504005900/en/

FAQ

What is the significance of the $750K contract awarded to CVD Equipment Corporation's subsidiary CVV?

The $750K SBIR Phase II contract will enhance the development of advanced coating technologies for aerospace applications, boosting the subsidiary's growth and market position.

When was the SBIR Phase II contract awarded to CVD MesoScribe Technologies Corporation?

The SBIR Phase II contract was awarded on March 11, 2021.

How does MesoScribe's technology contribute to aerospace advancements?

MesoScribe's Direct Write technology enables high-definition coatings on crucial components, addressing material challenges in advanced gas turbine engines.

What was the focus of the previous Phase I SBIR contract awarded to MesoScribe?

The Phase I contract focused on developing printed temperature and heat flux sensors for hypersonic flight, strengthening capabilities in high-temperature environments.

What are the expected outcomes of the Phase II projects for CVD Equipment Corporation?

The Phase II projects aim to develop integrated sensor products and cost-effective coating solutions, benefiting both the hypersonics community and advanced engine manufacturing.