First Nano Inc signs contract to sell assets to CVD Equipment Corporation (AMEX: CVV)

 

Carpinteria, CA, May 13, 2005 – CVD Equipment Corporation (CVD) (http://www.cvdequipment.com ) signed a contract with First Nano, Inc., of Carpinteria, CA (http://www.firstnano.com ) to purchase certain assets of their Nanotechnology process development and equipment business. First Nano develops solutions for single and multiwall nanotube and nanowire synthesis and manufactures chemical vapor deposition process equipment suitable for the synthesis of a variety of carbon nanotubes, one-dimensional nanostructures and nanomaterials.

Len Rosenbaum, President & CEO states “We, at CVD, are looking forward to the addition of First Nano products and process knowledge to our Company. The purchase of First Nano strengthens CVD's position in the Carbon Nanotube Synthesis Research & Development sector.   The First Nano brand further expands our market exposure in the Nanotechnology market, a sector we have targeted for sales growth in our front end products."

Cary Chee, President of First Nano comments “We are pleased to be part of a company with a strong background and broad experience in CVD instrumentation.  We believe CVD’s manufacturing and technological expertise, along with First Nano’s focus on nanotechnology material synthesis will enable both our companies to realize greater market potential beyond simply research and development.”

About CVD Equipment Corporation - CVD Equipment Corporation  (AMEX: CVV), is a leading manufacturer of critical LPCVD, UHVCVD, HVPE, MOCVD, PECVD, LPE, VPE, ALD, Reel-to-Reel, Fluidized Bed and RTP products and services for the Semiconductor, Compound Semiconductor, Optoelectronic, Wireless Telecommunications, MEMS, Nanotechnology, Solar Power, Super Conductivity and industrial markets.

About First Nano, Inc. - First Nano, Inc. was established in May 2003, to develop and manufacture process equipment uniquely suited to nanotechnology applications.  Founded by Dr. Virgil Elings, founder of Digital Instruments, Dennis Adderton, formerly of NanoDevices and Digital Instruments, Dr. Stephen Minne of Stanford University and formerly President of NanoDevices, and Cary Chee, formerly of FEI and Veeco, First Nano manufactures the industry’s first innovative, turnkey process equipment for the synthesis of a variety of one-dimensional nanostructures and materials. 

This public announcement may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or anticipated results.  Investors and potential investors should review carefully the description of the risks and uncertainties which, together with other detailed information about CVD Equipment Corporation (CVD), is contained in the periodic reports that CVD files from time to time with Securities and Exchange Commission.

The risks and uncertainties include, but are not limited to: the ability to successfully integrate acquired assets into CVD Equipment Corporation; CVD’s dependence upon the ability to attract and retain qualified personnel; competition and technological changes; the company’s dependence upon proprietary technology and the potential need for additional financing.

For further information Contact:  CVD Equipment Corporation, Karen Hamberg,

Phone: 631-981-7081, Fax: 631-981-7095 or email: info@cvdequipment.com

 

 

Source: First Nano