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SolRayo, Inc., a subsidiary of Enable IPC Corporation (PINKSHEETS: EIPC), announced today that it has been awarded a National Science Foundation Small Business Technology Transfer (NSF-STTR) Phase II grant of $499,998 for the development of coatings to extend the life of batteries.
This award builds on the successful NSF-STTR Phase I project titled, "Using Nanoparticle Oxide Coatings to Extend Cycle Life of Cathode Materials in Lithium-Ion Batteries." During the Phase I research, this inexpensive and easy-to-apply coating was shown to help increase the cycle life of certain rechargeable lithium ion batteries by several times. This Phase II grant is designed to allow the full commercialization of the product. The research and technology is being developed in collaboration with the University of Wisconsin in Madison.
Dr. Walter Zeltner, who will oversee the project at SolRayo and serves as the Company's Director of Battery Research, said, "This grant, once again, points to the significance of the work being done at SolRayo and the University of Wisconsin. We are thrilled to be working with the National Science Foundation on this important research."
This work, under Dr. Zeltner's direction, was proven effective during the Phase I program, which was completed June 30, 2011. Dr. Zeltner has also stated that he expects to see improved results during Phase II and anticipates having a fully commercialized product for insertion into battery manufacturing processes at the conclusion of the Phase II program.
STTR is a vital, US government-funded, highly competitive small business program that expands funding opportunities in the federal innovation research and development arena. The program funds certain opportunities between businesses and non-profit research institutions. The goal of the STTR program is to fully transfer the technologies and products from the laboratory to the marketplace. The small business generates profits from the commercialization of the technology, which, in turn, stimulates the U.S. economy.
The work is being conducted jointly at SolRayo's facility in Madison at the lab of Professor Marc Anderson at the University of Wisconsin. The project officially commenced on April 1, 2012 and is scheduled to conclude on March 31, 2014.
About SolRayo, Inc.
SolRayo, Inc. (www.solrayo.com) is a Madison, Wisconsin-based company focused on developing new nanoparticle based materials for use in various renewable energy, industrial, consumer, and automotive applications. SolRayo is a subsidiary of Enable IPC Corporation.
This release may contain forward-looking statements, such as "estimated," "could," "should" and similar terminology 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.
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