VALENCIA, CA--(Marketwire - January 28, 2009) - In response to requests from a number of our
shareholders, Enable IPC Corporation (
As the company looks forward to what we believe will be an exciting year in 2009, we thought we would take this opportunity to bring stockholders up to date on our progress as well as bring the company into focus for new investors who may be looking for a "David and Goliath" situation that holds real potential to include in their portfolio.
We are taking this opportunity to illustrate what we believe is a record of momentum and progress in moving the company's principal technologies to the commercial markets. We believe our achievements on the technical side and the progress made with potential commercial clients will reflect a growth track that is not presently recognized by the capital markets. And while we understand the almost unprecedented damage done to stocks in general and microcaps in particular we believe that once investors understand the progress made in the past year they will price the stock at a level more appropriate to a leading edge technology company moving from the development to the commercial stage.
The core philosophy that guides Enable IPC (Intellectual Property Commercialization) is to take on specific leading edge development technologies that are nearing commercial success but still have some technical bridges to cross to reach the commercial market. At EIPC our team has the background and the technical expertise to bridge that gap between development stage and commercial success.
We have looked at a number of technologies but have chosen, for many reasons, to pursue two: a microbattery developed by Dr. Sung Choi and an ultracapacitor technology developed at the University of Wisconsin. The primary reasons we chose these are because our assessments indicated that:
-- These are two very ripe and very large markets;
-- These two technologies address specific needs in their respective
markets today and both represent relatively quick paths to revenues;
-- These technologies required significantly less (relatively speaking)
resources to get to marketability; and
-- The IP on both is well-protected and we were able to get exclusivity.
Below we have included a time line for each technology; where we've been and where we are going.
Mircobattery status and potential
Progress to date
Summer 2004 - negotiated acquisition of microbattery nanowire technology through a partnership with Dr. Choi
March 2005 - established Enable IPC
March 2005 - filed patent application for microbattery
Summer 2005 - began work at UCLA's Nanoelectronics Research Facility
Summer 2005 - established informal relationship with a smart card manufacturer; established initial and advanced performance, dimensional and financial targets for microbattery
Market for this end use from this manufacturer:
-- Beta test units: approx. $1.5 to $2 million
-- Production units: approx. $37 million annually from this mfr alone
Late 2006 - successfully integrated "solid" and "semisolid" electrolyte between nanowire poles; an important step in making the battery work
Mid 2007 - perfecting the process for incorporating nanowire battery on a flexible substrate and ensuring material purity
September 2007 - moved work to the University of Idaho, where Dr. Choi accepted an associate professorship, established a new lab and oversees clean room facilities
Early 2008 - Successfully achieved 10mAh 3V battery with dimensions approx 25mm (l) x 25mm (w) x 0.3mm (t), which met the initial smart card specification
Mid 2008 - Successfully hit 18mAh through a proprietary deposition that thickened Li cathode
Late 2008 - Successfully, and consistently, created 23mAh devices in the lab, which meets the advanced specifications
Today
Working on packaging of device
Future
-- Packaged alpha units for testing (about Spring 2009)
-- Beta testing (up to 4 million additional units; revenues of $1.5 to $2
million)
-- In production, estimated revenue from batteries for this specific
application are estimated at approx. $37 million / year (i.e., approx. 150
M units per year at approx. $0.25 per unit)
Ultracapacitor status and potential
Progress to date
Late 2006 - introduced to the ultracapacitor technology invented at the University of Wisconsin (UW)
Early 2007 - entered into an agreement with UW for examination and research to determine viability of ultracapacitor as a technology and product
April 2007 - recognizing that the ultracapacitor technology was close to commercial maturity and addressed a very large market need, we entered into a JV with SolRayo (the experts in the technology) to develop commercial products based on the intellectual property
November / December 2007 - acquired exclusive rights to technology from UW
April 2008 - completed cycle testing; our technology improves cycle life by ~60%; which means they will last longer than competing devices and save the end users more money
July 2008 - announced a partnership with IMDEA (an energy-research organization based in Spain) to develop ultracapacitors in renewable energy applications, particularly wind turbines in Europe and throughout the world. This partnership included our first contract
-- Initial contract: 47,000 Euros (about $60,000, more or less depending
on the exchange rate) to provide ultracapacitor electrodes; these will be
assembled by IMDEA into full ultracapacitors which will be incorporated
into power conditioning unit by Green Power (a Spain-based renewable energy
mfr) for demo in SA2VE project -- a Spanish-government sponsored program
focused on new energy storage solutions; particularly relating to "green"
power.
-- The demo will be seen by a number of the leading renewable energy
companies in Europe and throughout the world. If the participating
companies like our technology, additional contracts should follow and
include the use of our devices in wind turbines all over the world.
-- The value of this opportunity could be in the tens of millions of
dollars.
Oct 2008 - EIPC acquires SolRayo; this allows us to control and manage commercial introduction of the devices utilizing the very best experts in the technology available
Oct 2008 - SolRayo wins $250K state of Wisconsin grant to develop ultracapacitors for renewable energy applications in Wisconsin, including solar and wind turbines being developed now in the state
Today
Completing the electrodes for IMDEA and working on design for additional applications in Telecom (in conjunction with a cellular phone company), smart card, and other applications
Future
-- Feb 2009 - delivery of electrodes to IMDEA
-- Delivery by Green Power of power conditioning unit using our devices
-- Evaluation by various energy and "green" power companies and possible
entrance into wind power markets (potential revenue in the tens of millions
of dollars)
-- Additional applications include Telecom, "smart" cards and other uses
In conclusion, we want to thank our shareholders for your continued support, in particular during the past several difficult months in the market. As we gain momentum in the coming year we trust the markets will recognize us for our potential and our progress.
About Enable IPC
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 www.enableipc.com.
Forward-Looking Statements
This release contains forward-looking statements, such as "believes," "should," "targeted" and similar terminology, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties which could cause actual results that the Company achieves to differ materially from any of the forward-looking statements. Such risks and uncertainties, include, but are not limited to, the following: the ability to secure additional sources of financing, the difficulties in forecasting results from development efforts, the impact of changing economic conditions, business conditions in the industries and others identified in our Annual Report on Form 10-K, as amended, and other Securities and Exchange Commission filings. The company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Contact Information: Investor relations: Rich Kaiser (800) 631-8127 ir@enableipc.com