August 10, 2022

CVD Equipment Corporation Receives First Production System Order for Nanomaterials Used in Electric Vehicle Energy Storage

CENTRAL ISLIP, NY–(BUSINESS WIRE)–CVD Equipment Corporation (NASDAQ: CVV), a leading supplier of chemical vapor deposition systems, today announced that it has received an order for a production system from a leading U.S. battery materials manufacturer of electric vehicles for approximately $1.7 million. The system is expected to be delivered to the customer in the first quarter of 2022.

Significant growth in electric vehicle sales is expected in the coming years. With the development of next-generation lithium-ion battery materials moving from research and development to production, we believe CVD is focusing on the increased demand for carbon nanotubes (CNTs), carbon nanofibers (CNFs), silicon nanowires (Si-NW) and other nanotechnology materials. These materials increase energy density and charging speed while reducing cost per kWh. Chemical vapor deposition is a key manufacturing process for making these new battery materials. CVD Equipment has a long track record of over 20 years in the design and manufacture of CVD tools to advance the state of the art in nanotechnology materials.

“CVD is pleased to receive this order contract. It is the affirmation of the company’s strategic direction to produce equipment for materials in high-growth nanotechnology materials markets. We look forward to expanding our presence in these emerging green technology 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 wide range of chemical vapor deposition, gas control and other advanced process equipment and solutions used to develop and manufacture materials and coatings for research and industry. apps. 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 start-up assistance with a focus on enabling the technologies of tomorrow™. Its wholly-owned subsidiary CVD Materials Corporation provides advanced materials, metal surface treatments and coatings to meet demanding applications in electronics, 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 contained in this press release (as well as information contained in oral or other written statements made or to be made by CVD Equipment Corporation) contains forward-looking statements. All statements other than statements of historical fact are hereby identified as “forward-looking statements”, as that 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. This 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, cancellation or lack of orders, potential delays in product shipments, delays in obtaining in-stock parts from suppliers, and failure to meet customer acceptance requirements. Past performance is not a guarantee of future results.