Sono-Tek Welcomes Dr. Adeniyi Lawal to Board of Directors
03 Abril 2024 - 9:00AM
Sono-Tek Corporation (Nasdaq: SOTK), the leading developer and
manufacturer of ultrasonic coating systems, announced the election
of Dr. Adeniyi Lawal to the Company’s Board of Directors effective
today. Dr. Lawal is expected to eventually replace Dr. Donald F.
Mowbray, the Board member with the most significant technical
expertise, who has indicated that he may not stand for reelection
and whose current term expires as of the Company’s next annual
meeting of shareholders which is expected to be held in August
2024.
Dr. Lawal is a Professor of Chemical Engineering
at the Department of Chemical Engineering & Materials Science,
Stevens Institute of Technology, a leading teaching and research
university, where he has been a member of the faculty for over 25
years. His core expertise is in catalysis, reaction engineering and
process intensification with specific application to renewable
energy, a core market for Sono-Tek. In recent years, the Company
has established collaborative projects with Dr. Lawal and his
students at Stevens Institute which has contributed to an improved
understanding of Sono-Tek’s proprietary ultrasonic atomization
technology.
Dr. Christopher L Coccio, Executive Chairman of
Sono-Tek, said, “We welcome Dr. Lawal to the Board of Sono-Tek. His
extensive research experience and knowledge of the renewable energy
landscape is expected to bring valuable insights to our Board on
emerging local and global business opportunities in green energy.
This is a critical area of our business, and we look forward to his
contributions, as well as the overlap and interchange he will have
with Don Mowbray, the Board’s technical expert since 2003. It is
our honor to have him join our Board of Directors.”
During his 25-year tenure at Stevens, Dr. Lawal
has held several administrative positions, including Program
Director, Associate Department Chair, and now, Department Chair. He
has directed research groups in academia, and has been a highly
successful researcher, having executed several multi-million
dollar, and multi-year projects funded by the U.S. Department of
Energy and the Department of Defense. ACS-Petroleum Research Fund,
GAF Materials Corporation, Phillips Netherlands, and International
Flavors & Fragrances have also funded his research. He has
published extensively in highly esteemed, archival journals and is
the recipient of five U.S. and International patents. Dr. Lawal has
also been active in scientific societies, and has organized and
chaired national and international conferences. He received a B.Sc
(Honors) Degree in Engineering from the University of Ibadan,
Nigeria, an S.M. Degree from MIT and a Ph.D. from McGill
University, Canada, both in Chemical Engineering.
About Sono-Tek
Sono-Tek Corporation is a global leader in the
design and manufacture of ultrasonic coating systems that are
shaping industries and driving innovation worldwide. Our ultrasonic
coating systems are used to apply thin films onto parts used in
diverse industries including microelectronics, alternative energy,
medical devices, advanced industrial manufacturing, and the
research and development sectors. Sono-Tek's bold venture into the
clean energy sector is showing transformative results in next-gen
solar cells, fuel cells, green hydrogen generation, and carbon
capture applications as we shape a sustainable future.
The Company’s product line is rapidly evolving,
transitioning from R&D to high-volume production machines with
significantly higher average selling prices, showcasing Sono-Tek’s
market leadership and adaptability. Our comprehensive suite of thin
film coating solutions and application consulting services ensures
unparalleled results for our clients, and helps some of the world's
most promising companies achieve technological breakthroughs and
bring them to the market. The company strategically delivers its
products to customers through a network of direct sales personnel,
carefully chosen independent distributors, and experienced sales
representatives, ensuring efficient market reach across diverse
sectors around the globe. For more information, please visit
www.sono-tek.com.
Safe Harbor Statement
This news release contains forward-looking
statements regarding future events and the future performance of
Sono-Tek Corporation that involve risks and uncertainties that
could cause actual results to differ materially. These
“forward-looking statements” are based on currently available
competitive, financial and economic data and our operating plans.
They are inherently uncertain, and investors must recognize that
events could turn out to be significantly different from our
expectations and could cause actual results to differ
materially.
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; 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 medical and 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:
Stephen J. BagleyChief Financial OfficerSono-Tek
Corporationinfo@sono-tek.com
Investor Relations:PCG Advisory(646) 863-6341
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