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This first contract, valued at EUR 47,000 (about $60,000, depending on the exchange rate), requires Enable to deliver ultracapacitor electrodes, which will be incorporated into a power conditioning unit by IMDEA and Green Power, a Spain-based renewable energy manufacturer, for a demonstration as part of the SA2VE project -- a Spanish government-sponsored program focused on new energy solutions, particularly relating to "green" power.
If the project is successful, the company will have a multi-million-dollar opportunity in renewable energy.
"This is a high profile demonstration that we expect will lead to additional contracts for the use of our devices in renewable energy systems throughout the world," said Dr. Mark Daugherty, Chief Technology Officer of Enable IPC and President of SolRayo.
The demonstration is meant, in part, to illustrate that ultracapacitors should be used in renewable energy applications.
"Solar and wind technologies are wonderful," said SolRayo CTO Kevin Leonard. "But sometimes, the sun doesn't shine and the wind doesn't blow. Ultracapacitors can be used to level out the load."
Ultracapacitors have not been used in these applications before because they have been too expensive. Enable IPC's technology lowers the cost of the devices and helps make them economically viable for renewable energy.
About Enable IPC Corporation
Enable IPC provides efficient, streamlined strategies for turning technologies into products and bringing them to market. Enable IPC's growing portfolio currently includes the exclusive rights to two break-through energy technologies: a nanoparticle-based ultracapacitor and a nanowire-based microbattery. These technologies address a combined market estimated to grow to over $3 billion by 2012. For more information, please visit http://www.enableipc.com.
Forward-Looking Statements
This release may contain forward-looking statements, such as "believes," "should," "targeted" and similar terminology, that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, the ability to secure additional financing for the company, changing economic conditions, business conditions, and the risks inherent in the operations of a company.
Investor relations: Rich Kaiser (800) 631-8127 ir@enableipc.com
SOURCE: Enable Intellecutal Property Commercialization
mailto:ir@enableipc.com
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