Contact Information: Investor relations: Rich Kaiser (800) 631-8127 ir@enableipc.com
Enable IPC Issues Update on Company's Renewable Energy Technologies Focusing on the American Recovery and Reinvestment Act and President Obama's New Energy for America Plan
VALENCIA, CA--(Marketwire - March 19, 2009) - Enable IPC Corporation (PINKSHEETS : EIPC )
today released an update detailing its activities relating to the emerging
opportunities in renewable energy expansion, initially as a result of the
American Recovery and Reinvestment Act. In the Act, $41.4 billion has
been marked for various energy related programs at the federal, state and
local levels. The company has established relationships, both in
Washington and locally, to pursue these funds to accelerate the
implementation of its devices in renewable energy applications.
The United States is making a major and unprecedented push toward the
widespread use of renewable energy. President Obama's New Energy for
America plan contains a stated goal of investing $150 billion over the next
10 years to establish renewable energy in America. The general purposes of
this effort are threefold: to help mitigate climate change, to lessen the
country's dependence on foreign oil and to help address the current
economic crisis.
How Enable IPC Fits In
Solar and wind energy solutions are in high demand. However, sometimes
there are cloudy days and sometimes the wind does not blow. Renewable
energy is intermittent, and that presents problems for the energy grid
itself. Some kind of economical energy storage will need to be utilized to
level the load. Batteries can do it, but are expensive and degrade
quickly. This is one of the roadblocks to the use of widespread renewable
energy in the United States.
Enable IPC's ultracapacitor technology is an advanced and economical way to
address that problem. The Company's proprietary technology can lower the
cost of ultracapacitors and provide a more reliable way to store the energy
and stabilize the grid. Enable IPC's technology is less expensive than
batteries and can be recharged hundreds of times more than batteries.
Technical details on these issues and the Company's solutions can be found
here:
http://www.solrayo.com/SolRayo/Ultracapacitor/Entries/2009/2/2_Ultracapacitors_for_Renewable_Energy_Storage.html
Renewable Energy Opportunities
While a lot of the details are still being worked out, the Act specifies
that a significant amount of money will be spent to boost the
implementation of renewable energy in the United States.
Enable IPC has a solution for renewable energy roadblocks that the Company
believes are technically viable and economical; the state of Wisconsin
apparently agrees, as evidenced by the $250,000 grant awarded the Company
last October. Additional funding should help Enable IPC standardize and
make this technology available for wind and solar applications across the
country. Enable IPC is working with people familiar with these programs to
pursue some of these opportunities. Some examples of the funding
opportunities include:
-- $2.8 billion for the US Department of Energy, Energy Efficiency and
Renewable Energy Research -- for research, development and demonstrations
of renewable energy technologies for industrial and commercial
applications, including energy storage to increase the effectiveness of
renewable energy projects. These projects are being funded at the federal,
state, and local levels.
-- $2.5 billion for the National Science Foundation to provide funding for
research related to improvements in energy efficiency and storage including
research on renewable energy and on the storage of energy for use on
military installations.
-- $400 million for the US Department of Energy's expansion of its Advanced
Research Projects Agency to support high risk and high payoff research and
to accelerate innovation for traditional and alternative energy sources.
-- The US DOE State Energy Program will be providing increased funding to
States for emerging renewable energy technologies. The state of Wisconsin
has already led the way in the effort to develop new high performance and
cost effective energy storage for renewable energy, granting $250,000 to
Enable IPC's SolRayo subsidiary last October to help develop its
ultracapacitor technology for renewable energy applications. The Company
is working with state and local leaders to pursue these opportunities.
Battery Funding Opportunities
In the lab, Enable IPC has seen its battery technology provide greater
power by enhancing the surface area of the electrodes. While the Company's
team has been focusing efforts on low power applications, there are
opportunities to further develop this technology in larger scale uses.
-- $2 billion in loans and grants for advanced battery manufacturing will
be made available through the Department of Energy on a competitive basis.
This funding will include advanced lithium-ion batteries, which is the
primary chemistry of Enable IPC's devices.
-- An additional $400 million in funding will be available for higher risk
efforts, which should apply to Enable IPC's technology. The idea of this
particular funding will be to accelerate innovation for various energy
sources.
Summary
Enable IPC's technologies address many of the issues the New Energy plan
overall is designed to fund. Enable IPC anticipates being a major part of
this recovery effort. These opportunities, and the mechanisms for
administering them, are still being put into place. Most of the detailed
program information and application materials are not yet available. These
opportunities will be competitive and there will be a number of companies
vying for funding.
Still, the opportunities are unprecedented and Enable IPC is extremely
excited about these programs. The amount of funding available is
tremendous, and the company expects the New Energy plan and the correlating
government programs will greatly benefit the ultracapacitor and alternative
energy industries and spur innovation across the US economy.
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.