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Agreement Fuels Distribution of Solicore’s Paper-Thin Battery
Lakeland, Fla.—December 18, 2007—Solicore further establishes itself as a major player in the Asian technology market by entering into a significant agreement with Tomoe Engineering Co., Ltd for distribution of Flexion® batteries to select accounts in Japan. Tomoe is a multi-segmented diversified pan-Asian trading company with distribution partnerships in countries all over the world, and will supply Flexion batteries primarily for RFID and prepaid card applications.
The partnership enables Solicore to make a smooth and speedy entry into the Japanese market by leveraging Tomoe’s more than 60 years of experience in the engineering industry, as well as its long-standing relationships with key Japanese manufacturers. The Japanese technology market is extremely competitive and hard for international companies to break into as consumers still believe in the Myth of Made in Japan. [1] Without these relationships already in place, it can feasibly take international companies more than three years to develop a strong reputation and sufficient credibility to forge partnerships with local distributors in the rapidly expanding Japanese market.
“Many of our clients, particularly those creating prepaid transportation cards and RFID applications, require a thin film battery in order to create enhanced functionality in the next generation of their products. Solicore’s Flexion batteries are the only batteries we found that provide the necessary thinness and flexibility, making them an essential addition to our portfolio,” says Tetsuo Yamada, General Manager of the Electronics Material Department at Tomoe.
The diverse nature of the Japanese market allows industries to grow both vertically and horizontally, generating a wide variety of opportunities for vendors that are uniquely qualified to meet the range of demands it presents. Forward-thinking companies like Solicore are well-matched for this innovative market, particularly to drive the development of smaller, faster and easier to use technologies.
“Well-known for being early adopters of the most cutting edge technology, the Japanese market holds exciting opportunities for growth as new applications for our Flexion batteries emerge,” says James P. McDougall, Executive Vice President of Battery Sales and Business Development for Solicore. “Tomoe offers Solicore an insider’s point-of-view to this challenging market, providing invaluable knowledge and assistance to determine where and how Flexion batteries should be positioned in this arena.”
Tomoe will supply Solicore’s Flexion batteries to provide embedded power solutions for OTP and RFID applications for select consumer and industrial applications within Japan. The OTP platforms are expected to go to market in 2008, with the RFID applications following in the next two to three years. For more information about Solicore and its Flexion battery portfolio, please visit www.solicore.com.
About Solicore, Inc.
Solicore is a worldwide leader of embedded power solutions, offering its Flexion® product portfolio of advanced ultra-thin flexible lithium polymer batteries for powered cards, RFID and micro medical devices. Solicore’s advanced battery technology is ultra-thin, flexible, safe and environmentally friendly, and significantly enhances the capabilities of lithium-based batteries. For more information, visit www.solicore.com.
About Tomoe Engineering Co, Ltd.
Tomoe Engineering Co, Ltd. is a multi-segmented diversified pan-Asian trading company with over 60 years of experience as a distributor to machinery and equipment, electronics and chemical production companies. For more information, visit www.tomo-e.co.jp.
This press release contains forward-looking statements, including statements containing the words "planned," "expects," "believes," "strategy," "opportunity," "anticipates" and similar words. Such forward-looking statements are subject to known and unknown risks, uncertainties or other factors that may cause Solicore, Inc's actual results to be materially different from historical results or any results expressed or implied by such forward-looking statements. Solicore, Inc. assumes no obligation to update any forward-looking statements to reflect events or circumstances arising after the date hereof. The potential risks and uncertainties which could cause actual growth and results to differ materially include but are not limited to, customer acceptance of the company's services, products and fee structures, the success of the company's brand development efforts, the volatile and competitive nature of the battery industry, and changes in domestic and international market conditions, and foreign exchange rates.
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