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CVD Equipment Corporation Reports Increased Product Demand For 2021
CENTRAL ISLIP, N.Y.--(BUSINESS WIRE)-- CVD Equipment Corporation (NASDAQ: CVV), a leading provider of chemical vapor deposition systems, today announced
About this update from Cvd Equipment Corporation
[{"type":"text","content":" CENTRAL ISLIP, N.Y.--(BUSINESS WIRE)--\nCVD Equipment Corporation (NASDAQ: CVV), a leading provider of chemical vapor deposition systems, today announced increased product demand in 2021. Orders exceeded $5 million in the fourth quarter and $21 million overall for the year 2021, yielding an increase of 75% compared to 2020.\n\nCVD has seen order growth in all segments and products, including a 100% growth in the CVD equipment portion of the business, with 23 system orders in 2021. The order rate has also increased in the SDC Division and CVD Materials Division which includes the Tantaline and MesoScribe product lines.\n\nThe order rate has benefited from the increased demand for nanotechnology materials including carbon nanotubes (CNTs), Graphene and silicon nanowires (Si-NWs) to support development and manufacturing for battery materials used in electric vehicles. CVD received two system orders in 2021 to deposit coatings onto powders used in silicon-graphite anodes, including a production system to OneD Battery Sciences (Palo Alto, CA) and a second for research and material development. Both systems are planned to ship in the first half of 2022.\n\nIn addition, strong demand for Silicon Carbide wafers to support high power electronics for energy storage and transmission/charging has resulted in a multi system order from a US-based, Silicon Carbide wafer provider for approximately $2 million. The systems are scheduled to be delivered in 2022.\n\nCVD is also a leading manufacturer of Chemical Vapor Infiltration (CVI) and Tow-Coating Systems to manufacture ceramic composite materials (CMCs) for Aerospace gas turbine engine applications. Even though the aerospace industry has been greatly impacted by the COVID global pandemic, the demand for increased manufacturing is expected according to industry projections to recover in 2023.\n\n“CVD’s focus on growth markets in nano materials and aerospace gives ample end use market diversity. The entire space for energy storage, transmission and charging for Electric Vehicles is materializing. We support both production needs for present technology nodes as well as near and longer term material development in this market.” said Emmanuel Lakios, President and CEO of CVD Equipment Corporation. “Furthermore, we continue to support our aerospace customers and are optimistic that the market segm...