CVD Equipment Corporation (NASDAQ: CVV) is engaged within the design, development, and manufacturing of a wide-range of chemical vapor deposition, gas control, and other equipment for industrial applications. The company’s chemical coatings are designed for aerospace engine components, medical implants, semiconductors, solar cells, smart glass, LEDs, and more.
Shares of the industrial chemicals company are rallying 31% during early trading on Friday, August 13, 2021. Over the past three months, CVD Equipment Corporation has seen average daily volume of 32,980 shares. However, volume of 859,184 shares or dollar volume of $4.38 million, has already exchanged hands through early trading on Friday.
CVD Equipment shares are gaining after the company announced that it has received its first production system order for nanomaterials used in electrical vehicle energy storage. The order has a monetary value of $1.7 million and will be shipped to the U.S.-based EV battery manufacturer during the first quarter of 2022.
Management says they believe the coming electric vehicle boom will continue to drive up demand for the essential lithium ion battery materials needed to power these next generation cars. CVD Equipment says the anticipate increased demand for carbon nanotubes, carbon nanofibers, silicon nanowires, and other nanotechnology materials. The company’s chemical vapor deposition is a key to the manufacturing process for these battery 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.
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