CVD and Graphene Batteries Sign Joint IP Development Agreement
CENTRAL ISLIP, N.Y.--(BUSINESS WIRE)-- CVD Equipment Corporation (Nasdaq: CVV) and Graphene Batteries AS announced today the signing of a Joint Intellectual Property Development Agreement for the development of NanotoMacro™ binder-less lithium battery electrodes and related novel battery designs. The companies believe that this collaborative relationship will help expedite the commercialization of enhanced lithium battery technology.
Leonard A. Rosenbaum, President and CEO of CVD Equipment Corporation ("CVD") stated, "This agreement represents another step forward in implementing our vision to enable the acceleration of the commercialization of nano materials. In particular it enables us to combine our 30+ years of equipment design, nano material growth and processing expertise with Graphene Batteries' knowledge in lithium batteries. This agreement leverages the individual strength of both companies and enables a cost efficient exploration of lithium battery technology innovations. CVD anticipates similar collaborative agreements with companies and universities regarding other nano material applications."
"We are happy to be able to combine forces with CVD," stated Rahul Fotedar, CEO of Graphene Batteries AS. "We expect that our graphene battery core technology can be further enhanced with the material processing knowledge from CVD and result in higher performance materials."
Dr. Rune Wendelbo, Graphene Batteries' CTO, who will lead the design and testing of the respective lithium battery technology innovations, added, "The binder-less NanotoMacro™electrode manufacturing technology of CVD may enable the design and manufacturing of an electrode with a higher energy density, a 30% cost reduction, an enhanced charging time and a longer lifetime."
Dr. Karlheinz Strobl, V.P. of Business Development of CVD noted: "While we are developing a growing number of material processing capabilities in our application laboratory we need the focus and expertise of application specific specialists to drive the innovation. With Graphene Batteries' contribution in material testing, we will be able to optimize our novel NanotoMacro™binder-lesselectrode capability for lithium battery applications at a faster pace."
Graphene Batteries, AS is a privately held Norwegian corporation developing advanced material solutions for the battery industry. Graphene Batteries is engaged in development of safe and durable graphene based high energy battery materials. Our strategy is to build a key technology IP-portfolio for future licensing and production.
For further information please contact Rahul Fotedar by Phone: +47 46568796 or email: email@example.com
CVD Equipment Corporation (NASDAQ: CVV) is a designer and manufacturer of custom and standard state-of-the-art equipment used in the development, design and manufacture of advanced electronic components, materials and coatings for research and industrial applications. CVD offers a broad range of chemical vapor deposition, gas control, and other equipment that is used by customers to research, design and manufacture semiconductors, solar cells, graphene, carbon nanotubes, nanowires, LEDs, MEMS, smart glass coatings, battery and/or ultra capacitor materials, medical coatings, industrial coatings and equipment for surface mounting of components onto printed circuit boards. CVD's application laboratory focuses on higher efficiency nano and nano to macro material manufacturing for a wide variety of growth markets, which are marketed through our wholly owned subsidiary CVD Materials Corporation.
NanoToMacro™ is a Trade Mark of CVD Equipment Corporation.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release by CVD, as well as information included in oral or other written statements made or to be made by CVD, contains statements that are forward-looking. All statements other than statements of historical fact are hereby identified as "forward-looking statements," as that term is defined in the Private Securities Litigation Reform Act of 1995. 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, industry specific and general business conditions, competitive market conditions, success of CVD's growth and sales strategies, possible customer changes in delivery schedules, cancellation of orders, delays in product shipments, delays in obtaining parts from suppliers, failure to satisfy customer acceptance requirements and other risk factors described in CVD's SEC filings. All forward-looking statements are based on management's estimates, projections and assumptions as of the date hereof and CVD assumes no obligation to update this press release.
For further information please contact Karen Hamberg or our Investor Relations by Phone: (631) 981-7081, Fax: (631) 981-7095 or Email: firstname.lastname@example.org
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