October 21, 2008
CVD Equipment Corporation Receives $25M of Orders in 2008
CVD Equipment Corporation (Nasdaq: CVV) announced today that it has received orders totaling $25 million since the beginning of the year - January 1, 2008, compared to $14 million of orders received for the full 12 months of 2007. Approximately 50% of the orders in 2008 address needs of the solar and energy markets and incorporate CVD proprietary and patent pending thin film solutions for enabling tomorrow's technology(TM).
The first thin film market segment we are addressing is for continuous thin film Atmospheric Pressure Chemical Vapor Deposition (APCVD) of Transparent Conductive Oxide (TCO) coatings for Photovoltaics - solar energy and Low-E coatings - energy efficient windows. The technologies we are offering will enable TCO and other coatings to be done both Off-Line, i.e. after the float glass is cut to the desired size and On-Line, i.e. on a Float Glass production line.
The second thin film market segment is a high throughput Silicon Epitaxial Chemical Vapor Deposition System for a lower cost manufacturing solution in the solar and power semiconductor markets. The ability to economically deposit a quality silicon thin film onto a re-usable, inferior or non-silicon substrate and thereby form the basis for a solar cell will significantly reduce overall manufacturing costs and the need for high quality silicon substrates.
The large demand for energy savings, energy generation materials and products needed to address rising energy costs creates a growing demand for manufacturing solutions using thin film coatings on glass, wafers and other substrates. Using our application laboratory we will perfect and expand the multiple areas where these low cost thin film manufacturing solutions can be applied and further optimize our proprietary and patent pending technologies for cost and performance. The solar, energy and power semiconductor markets we are addressing with multiple products have significant growth opportunities for technologies that deliver favorable price benefits.
About CVD Equipment Corporation:
CVD Equipment Corporation owns and operates three divisions: Together the CVD and First Nano product group form the CVD/First Nano Division. The CVD product group designs and builds pilot and production equipment for custom Chemical Vapor Deposition processes for a very wide variety of applications. The First Nano product group manufactures the EasyTube equipment product line used by researchers around the world to develop and grow a wide variety of next generation Nanowire, Nanotube and Thin Film Materials. The CVD/First Nano Division also operates an Application Laboratory where it develops advanced processes and solutions to facilitate the commercialization of emerging technology in the nano/solar and green field and develops/optimizes custom material manufacturing processes. The Stainless Design Concepts Division manufactures Ultra High Purity (UHP) gas and chemical delivery systems for state-of-the-art semiconductor fabrication processes. It offers complete gas and chemical delivery product lines ranging from cutting-edge to basic gas and chemical handling. The Conceptronic/Research International Division supplies reflow ovens and rework stations to the Printed Circuit Board assembly market and ball attach ovens to the back-end semi-conductor packaging industry. It also develops custom industrial inline oven based systems that process materials with controlled gas atmospheres and temperature profiles.
This press release contains forward-looking statements set within the meaning of the Private Securities Litigation Reform Act of 1995, except for historical information contained herein; the matters set forth in this news release are forward-looking statements. Readers should note that the forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including, without limitation, the uncertainties discussed under the caption "Risk Factors" in the Company's Registration Statement on Form S-1 filed with the SEC on July 3, 2007, as subsequently amended, which discussion is incorporated herein by reference. Readers should also read the periodic filings and current Form 8-K reports of the Company.