Million Dollars

in 2020 revenue


Million Dollars

in total backlog at the end of 2020


Sq. Ft Facility

in Central Islip, NY

The Path to Drawdown: LEDs

Light-emitting diodes (LEDs) were first invented in 1994 as a high-brightness, high-efficiency alternative to incandescent bulbs. LEDs work like solar panels in reverse, converting electrons to photons instead of the other way around. For the same amount of light, LEDs use 90% less energy than incandescent bulbs, and half as much as compact fluorescents. While other lighting technologies convert energy into heat (and most of it wasted), LEDs turn 80% of their energy use into light. 

There are many environmental advantages to LED lighting. Its efficiency in converting energy into light, rather than heat, helps reduce electricity consumption and air-conditioning loads. For people without access to ample energy, LEDs can be powered with small solar cells and can replace expensive kerosene lamps and their noxious fumes and emissions. Where LEDs are used in streetlights, they can save up to 70% of energy and significantly reduce maintenance costs.

Project Drawdown projects that if LED lighting becomes widely used in the residential and commercial lighting market, it can help avoid between 10.2 - 10.8 gigatons of CO2 emissions in residences, and between 5.9 - 6.7 gigatons in commercial buildings. To achieve this, the global market share of LEDs needs to scale rapidly:

  • In 2018, LEDs comprised 3% of the total commercial lighting market and 2% of the residential lighting market
  • By 2050, LEDs should account for 95% and 90% of the residential and commercial markets, respectively
  • That’s 12.82% CAGR for residential LED, and 11.21% CAGR for commercial LED lighting between 2018 - 2050.


CVD Equipment Corporation (stock ticker: CVV) develops, designs, manufactures and services a broad range of chemical vapor deposition, gas control and other state-of-the-art process equipment and solutions used in R&D and production of advanced materials and coatings. This equipment is used by their customers to manufacture LEDs and a wide range of other technological applications.

CVV's Role in Drawdown

CVD Equipment manufactures technology products (pp. 7-9) that are used in manufacturing LEDs, solar cells, semiconductors and many other applications. These products include chemical vapor deposition systems, ultra-high purity gas and chemical delivery control systems, and thin, corrosion-resistant metal films that can be used to coat over complex 3D surfaces.

CVV: What We Like

We’ll update this section once CVD Equipment makes sustainability information available.

CVV: What We Want to See Improve

Report GHG Emissions

As of now, CVD Equipment has no information on their sustainability efforts. We want to press their management team to take environmental sustainability and climate change seriously by tracking and reporting key metrics, such as the company’s direct and indirect emissions, energy use by source, and the amount of emissions avoided. These metrics should be reported in an annual sustainability report.

Set Emissions Reduction Targets

Also part of the sustainability report should be clearly spelled-out targets for reducing direct and indirect emissions by a specified date. These targets should be science-based, meaning that they should be in line with the global goal to stay under 1.5°C of global temperature rises by mid-century.

Clean Bank

CVD Equipment has been a repeat customer with HSBC Bank (p. 41) for their mortgage. HSBC is a large UK bank that finances fossil fuels. We urge CVD to switch to an environmentally friendly financial institution that, on principle, refuses to invest in the fossil fuel industries.

Other LEDs Stocks in the Climate Index

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