CENTRAL ISLIP, N.Y., (Business Wire) – March 21, 2016 – CVD Equipment Corporation (NASDAQ: CVV), a leading provider of chemical vapor deposition systems, today announced the next phase in its industrial partnership with Penn State University to advance 2D crystal device development.
“We are pleased to continue to benefit from the industrial perspective and specialized equipment manufacturing expertise that CVD Equipment Corporation brings as part of our ongoing collaboration,” stated Joan Redwing, Professor of Materials Science and Engineering, Chemical Engineering and Electrical Engineering. Professor Redwing will lead the consortium with a goal to advance the state-of-the-art in crystal growth of 2D materials over wafer-scale areas.
The National Science Foundation’s Materials Innovation Platform (MIP) recently announced that it has awarded Penn State University (PSU) $17.8M payable over five years. This award will fund a national user facility, based at PSU’s Materials Research Institute, for developing new materials for next generation electronics. CVD will contribute through supply and development of equipment required for synthesizing the 2D materials at wafer scale. The promise of emerging 2D materials, including graphene, boron nitride, and transition metal dichalcogenides, for revolutionizing the semiconductor and electronic device industries is reinforced by this platform award from the National Science Foundation. The user facility at PSU will aim to synthesize 2D crystals for use in faster, more energy efficient, and flexible electronics.
About CVD Equipment Corporation
CVD Equipment Corporation (NASDAQ: CVV) designs, develops, and manufactures a broad range of chemical vapor deposition, gas control, and other state-of-the-art equipment and process solutions used to develop and manufacture materials and coatings for research and industrial applications. This equipment is used by our customers to research, design, and manufacture these materials or coatings for aerospace engine components, medical implants, semiconductors, solar cells, smart glass, carbon nanotubes, nanowires, LEDs, MEMS, and other applications. Through our application laboratory, we provide process development support and process startup assistance with the focus on enabling tomorrow’s technologies™.
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, conditions, success of CVD Equipment Corporation’s growth and sales strategies, the possibility of customer changes in delivery schedules, cancellation of orders, potential delays in product shipments, delays in obtaining inventory parts from suppliers and failure to satisfy customer acceptance requirements.