CVV - CVD Equipment reports spike in Q2 orders driven by PVT-150 systems' use in EVs
- CVD Equipment ( NASDAQ: CVV ) reported Thursday more than 2-fold increase in second quarter's orders to $12.6M compared to $6M in Q2 2021.
- It brings the company's first half orders to $16.7M, up 73% Y/Y.
- "CVD’s orders in the first half of 2022 were attributed to the strong demand for the PVT-150 system developed to support the manufacturing of Silicon Carbide wafers used in high power electronics for EV charging & power transmission. Also contributing to the order flow is the need for nanotechnology materials," the company said. "In the first half of 2022, 20 combined CVD systems were ordered. The systems are planned to ship in the 2nd half of 2022 and into 2023."
- Stock is up 3.5% , Thursday.
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CVD Equipment reports spike in Q2 orders driven by PVT-150 systems' use in EVs