CVD Equipment Corporation Receives First Production System Order for Nanomaterials Used in Electric Vehicle Energy Storage
CVD Equipment Corporation (NASDAQ: CVV), a provider of chemical vapor deposition systems, announced today that it has received a production system order from a major, US based, electric vehicle battery material manufacturer for approximately $1.7M. The system is planned to ship to the customer in the first quarter of 2022.
Significant growth in electric vehicles sales is projected in the years to come. With next generation, lithium ion battery material development moving from research and development to production, we believe CVD is focused to benefit from the increased demand of carbon nanotubes (CNTs), carbon nanofibers (CNFs), silicon nanowires (Si-NWs) and other nanotechnology materials. These materials enable increased energy density and charge speed as well as decrease the cost per kWh. Chemical vapor deposition is a key manufacturing process to make these new battery materials. CVD Equipment has an extensive history of over 20 years designing and manufacturing CVD tools to advance the state of the art in nanotechnology materials.
“CVD is pleased to receive this order contract. It is affirmation of the strategic direction of the company to produce equipment for materials in high growth nanotechnology material markets. We look forward to growing our market presence in these Green Technology emerging markets,” said Emmanuel Lakios, President and CEO of CVD Equipment Corporation.