-3 System Order Expected to be Shipped in First Half of Fiscal 2025-
-Largest Order Received to Date From Clean Energy Sector and in Company History-
The new order is for three production scale systems and follows an order for one production scale system that is scheduled to ship in the current fiscal year, ending
“Funding from the large scale government initiatives for the clean energy sector has begun to be distributed and it is fueling demand for our proprietary ultrasonic coating systems from across the sector, including carbon capture, hydrogen generation, fuel cell, and advanced solar energy applications. We expect that the higher average selling prices (ASPs) that these systems command will benefit
About
The Company’s solutions are environmentally-friendly, efficient and highly reliable, and enable dramatic reductions in overspray, savings in raw material, water and energy usage and provide improved process repeatability, transfer efficiency, high uniformity and reduced emissions.
Sono-Tek’s growth strategy is focused on leveraging its innovative technologies, proprietary know-how, unique talent and experience, and global reach to further develop thin film coating technologies that enable better outcomes for its customers’ products and processes. For further information, visit www.sono-tek.com .
Safe Harbor Statement
This news release contains forward looking statements regarding future events and the future performance of
These factors include, among other considerations, general economic and business conditions; political, regulatory, tax, competitive and technological developments affecting our operations or the demand for our products; inflationary and supply chain pressures; residual effects from COVID-19 pandemic; continuing beneficial effects on demand for our products resulting from government funding initiatives in the clean energy sector; maintenance of increased order backlog and timely completion and shipment of related product; the imposition of tariffs; timely development and market acceptance of new products and continued customer validation of our coating technologies; adequacy of financing; capacity additions, the ability to enforce patents; maintenance of operating leverage; maintenance of increased order backlog; consummation of order proposals; completion of large orders on schedule and on budget; continued sales growth in the alternative energy markets; successful transition from primarily selling ultrasonic nozzles and components to a more complex business providing complete machine solutions and higher value subsystems; and realization of quarterly and annual revenues within the forecasted range of sales guidance. We undertake no obligation to update any forward-looking statement.
For more information, contact:
Chief Financial Officer
info@sono-tek.com
Investor Relations:
PCG Advisory
(646) 863-6341
sprince@pcgadvisory.com
Source:
2023 GlobeNewswire, Inc., source