-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-
MILTON, NY, Aug. 03, 2023 (GLOBE NEWSWIRE) — via NewMediaWire – Sono-Tek Corporation (NASDAQ:SOTK), the leading developer and manufacturer of ultrasonic coating systems, today announced that it has received an additional order from an existing clean energy customer. This order is the second part of an expected multi-system program and is valued at $2.19 million.
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 February 29, 2024. The customer initially purchased an R&D system from Sono-Tek for development before progressing to the production scale systems. The new order is planned for shipment during the first half of fiscal 2025.
Steve Harshbarger, President and COO of Sono-Tek, commented, “This new order from an existing clean energy customer is our largest from the sector to date and the largest in Sono-Tek’s history. It’s also the third order from this customer who is building out the production line for their specialty clean energy product after starting with the purchase of an R&D unit and perfecting their manufacturing process with the assistance of our application engineers. Additional orders from this customer are expected after the successful integration of these production systems built with Sono-Tek’s proprietary thin film application.
“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 Sono-Tek in the years ahead.”
