Enable IPC Corporation (Other OTC:EIPC.PK - News) today announced that it has made its final shipment of ultracapacitor electrodes to IMDEA Energia in Madrid, Spain. The shipment was made from the company's SolRayo facility in Madison, Wisconsin.
This completes Enable's portion of the contract, valued at EUR 47,000 (about $60,000, depending on the exchange rate). The electrodes 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.