CVD Equipment Corporation Receives System Order for the Production of High Performance Nanomaterials Used in Electric Vehicle Batteries
June 26 2023 - 5:11PM
Business Wire
CVD Equipment Corporation (NASDAQ: CVV), a leading provider of
chemical vapor deposition and thermal process equipment, announced
today that they received a second production system order from U.S.
based, electric vehicle battery material technology provider, OneD
Battery Sciences, for a PowderCoat1104TM system and components for
approximately $1.8 million in May 2023.
The system is planned to ship to the customer in Europe during
the second half of 2023. The system will be used to fuse
high-performance silicon nanowires into particles of EV-grade
graphite powders for use in the battery anode to enable longer
range, faster charging, more affordable electric vehicles (EVs).
Currently, most electric vehicles are either too expensive for the
broad mass of customers or their range is too prohibitive. The
reasons for this are the limited energy density and the high cost
of batteries. OneD’s SINANODE platform aims to remove these hurdles
and eliminates the inherent challenges of silicon stability and
expansion by unleashing silicon’s full potential. Enabling direct
accessibility to lithium ions, these silicon nanowires remain
pliant when charged, allowing these materials to deliver a fourfold
increase in charging speed while simultaneously decreasing the cost
per kWh. OneD’s SINANODE platform helps reduce the cost of e-car
batteries.
Vincent Pluvinage, CEO of OneD, noted, “More than a decade ago,
our CTO Yimin Zhu invented a manufacturing process that is
technically and economically ultra-efficient at reducing costs and
at scaling-up fast. The ordering of a second CVD (chemical vapor
deposition) machine from a proven established supplier proves that
OneD can quickly respond to market demand in any region to deploy
safe and cost-effective manufacturing solutions.”
CVD Equipment Corporation, along with our partner OneD Battery
Sciences, is committed to driving innovation to improve battery
performance. CVD continues to be a key manufacturing process used
to make next generation battery materials. Leveraging its extensive
40+ years of CVD experience, CVD Equipment Corporation designs and
manufactures CVD and CVI (chemical vapor infiltration) systems to
advance the state of the art in nanotechnology materials.
“Significant growth in EV sales is projected over the next
decade. We are dedicated to help our customers scale up production
and accelerate adoption to meet current and future market demand by
providing best-in-class turnkey equipment solutions enabling
cost-effective manufacturing of EV battery electrode materials. We
are very pleased to continue the strong customer supplier
relationship with OneD Battery Sciences. This order expands our
installed base into Europe of our production systems for
lithium-ion battery nanomaterials.” 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
processing, physical vapor transport, 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 high power
electronics (silicon carbide), EV battery materials / energy
storage (carbon nanotubes, graphene and silicon nanowires) and
aerospace & defense (ceramic matrix composites). 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.
About OneD Battery Sciences
OneD Battery Sciences is the creator of SINANODE, the
breakthrough technology that successfully adds more energy-dense
silicon into the anodes of EV batteries. The company operates a
SINANODE pilot production program to support the development of
advanced electrochemical cells and the production scale-up of its
industrial partners. In 2013, OneD Battery Sciences acquired
Nanosys' nanowire technologies (SINANODE) and its Palo Alto R&D
activities. Today, the Palo Alto-based company has over 240 granted
patents and applications in large-scale anode production and
innovative EV battery designs. https://onedsinanode.com/
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 PVT150 system; 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, 2022 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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version on businesswire.com: https://www.businesswire.com/news/home/20230626503269/en/
For further information about this topic please contact:
Richard Catalano, Vice President & CFO Phone: (631) 981-7081
Email: investorrelations@cvdequipment.com
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