Enable IPC acquires controlling interest in SolRayo

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Tue. September 30, 2008; Posted: 08:40 PM
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Sep 30, 2008 (The Wisconsin State Journal - McClatchy-Tribune Information Services via COMTEX) -- EIPC | Quote | Chart | News | PowerRating -- A California company has acquired a controlling interest in Madison-based SolRayo, which develops ultracapacitor technology to improve the storage, delivery and use of energy.
Enable IPC Corp. of Valencia, Calif., which specializes in turning technologies into products and bringing them to market, acquired its interest in SolRayo, 1202 Ann St., in a transaction involving stock, cash and services, the company announced Tuesday. Enable IPC's stock on the over-the-counter market was down less than a penny Tuesday to 7.9 cents per share.

Rich Kaiser, director of investor relations for Enable IPC, said the controlling interest is 50.1 percent and that more details about the transaction would be revealed in a future document filed with the U.S. Securities and Exchange Commission.

He said each company has a dozen employees and no work-force changes are anticipated as a result of the acquisition.

The same scientists who developed Enable IPC's ultra-capacitor technology also started SolRayo. Enable IPC is developing nanoparticle-based ultracapacitors for potential use in various industrial, consumer and automotive applications.

Mark Daugherty, chief technical officer of Enable IPC and former chief executive of Virent Energy Systems of Madison, will serve as SolRayo president while SolRayo co-founder Kevin Leonard will stay on as chief technology officer.

Enable IPC's technology combines nanoparticles with common carbon sheets as a low-cost way to improve the performance of ultracapacitors so they can serve as clean energy storage devices that are simpler, cheaper and longer lasting than some conventional batteries.

SolRayo recently received a $250,000 state grant from the Wisconsin Energy Independence Fund to commercialize nano-technology material to increase energy storage in ultra-capacitors.

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