Enable IPC Announces Major Partnership with Spanish Government

Published on August 20, 2008 at 11:47 AM

Celebrating a successful year highlighted by reaching a major milestone with the first commercial use of its breakthrough ultracapacitor nanotechnology, Enable IPC Corp., a leading company that turns technologies into products and successfully brings them to market, announced that it has concluded its annual stockholders meeting.

The ultracapacitor partnership marked a major validation of Enable IPC’s ultracapacitor technology, as the company partnered with the Madrid, Spain-based IMDEA Energy Institute to jointly develop ultracapacitors based on Enable IPC’s patent-pending energy technology. The initial project, for which Enable IPC will receive $69,000, consisted of incorporating the company’s ultracapacitor technology into the SA2VE clean energy innovation program. The SA2VE program is a strategic national research and development initiative spearheaded by the Spanish government, focusing on enhanced electricity storage for applications in renewable energy integration, transport sectors and households.

“We are excited by the relationship with IMDEA Energy because this initial project to use our ultracapacitor technology could easily be the first of many projects with them and the Spanish Government,” said David Walker, CEO, Enable IPC Corp. “There are many great uses for our ultracapacitor and microbattery technologies, from consumer electronics to military applications. Having IMDEA use the ultracapacitors for a clean energy commercial initiative opens up several new opportunities for Enable IPC both in the U.S. and internationally.”

Delivering a keynote presentation to the stockholders, Kevin Leonard, co-inventor of the ultracapacitor technology, detailed upcoming expansions for the technology, including potential partnerships with the U.S. Government and additional commercial applications.

Dr. Sung Choi spoke about the progress he and his team had made in the development of the company’s microbattery technology. Dr. Choi reported that the initial customers’ specifications had been met in the lab, and that the company is now close to finalizing the product.

The meeting also included Timothy Lambirth and Philip Verges, CEO, NewMarket Technology (OTC BB: NMKT), both being re-elected as Board members for three-year terms. The accounting firm of L.L. Bradford & Co. was also ratified as the company’s auditors for the coming fiscal year.

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