CVD Equipment Corporation Receives $3.5M Follow On Chemical Vapor Infiltration System Order
CVD Equipment Corporation (NASDAQ: CVV), a leading provider of chemical vapor deposition and thermal process equipment, announced today that it has received a follow on order for a production Chemical Vapor Infiltration (CVI) system valued at approximately $3.5 million. The system is intended to be used to produce advanced, energy efficient materials for use within gas turbine engines.
CVD Equipment is a leading manufacturer of Chemical Vapor Deposition (CVD), CVI and Tow-Coating equipment for use in the aerospace industry. Advanced materials including Ceramic Matrix Composites (CMCs) are being used in gas turbine engines to enable greater fuel efficiency as they are lighter in weight and require less cooling compared to conventional nickel-based components.
CVD Equipment offers standard products to support the aerospace market including CMC manufacturing for gas turbine engines and for applications in hypersonics requiring ultra-high temperature ceramic coatings. Product solutions include tow coating systems that enable the infiltration of ceramic material onto Silicon Carbide (SiC) fiber, CVI process equipment for the infiltration of SiC preforms as well as low pressure CVD systems to deposit silicon coatings as bond coats onto CMC components. CVD Equipment also manufactures R&D systems to enable next generation materials development as well as large scale systems to support high volume manufacturing.
"We are pleased to see that the aerospace industry continues to recover from the impact to air travel caused by the global COVID pandemic. Growth is now projected over the next decade for the aerospace and defense market. We have added to our product line in 2024 with the addition of a CVI system for CMCs, a second-generation silicon bond coat system and an advanced ceramic matrix system in addition to our legacy tow coat system for CMCs. We remain dedicated to support our customer's production scale up as well as their research and development efforts. This order expands our installed base of standard CVI production systems," 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, thermal and physical vapor transport process equipment, gas and chemical delivery control systems, and other equipment and process solutions used to develop and manufacture materials and coatings for industrial applications and research. Our products are used in production environments as well as research and development centers, both academic and corporate. Major target markets include aerospace & defense (ceramic matrix composites), high power electronics (silicon carbide), and EV battery materials / energy storage (carbon nanotubes, graphene, and silicon nanowires). Through its application laboratory, the Company allows customers the option to bring their process tools to our laboratory and to work collaboratively with our scientists and engineers to optimize process performance.
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 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, competition in our existing and potential future product lines of business, including our PVT systems; our ability to obtain financing on acceptable terms if and when needed; uncertainty as to our ability to develop new products for the high power electronics market; uncertainty as to our future profitability; uncertainty as to any future expansion of the Company; uncertainty as to our ability to adequately obtain raw materials and components from foreign markets in light of geopolitical developments; and other risks and uncertainties that are described in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 and the Company's other filings with the Securities and Exchange Commission. For forward-looking statements in this release, the Company claims the protection of the safe harbor of the Private Securities Litigation Reform Act of 1995. The Company assumes no obligations to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. Past performance is not a guarantee of future results.
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