Contact Information: Contact: Enable IPC Corporation Rich Kaiser 800-631-8127 (Investor Relations) ir@enableipc.com www.enableipc.com
Enable IPC Corporation Issues Update on Dividend, IMDEA Energia Project and Wisconsin Energy Independence Fund
VALENCIA, CA--(Marketwire - May 12, 2009) - Enable IPC Corporation (PINKSHEETS : EIPC )
today issued an update for shareholders and interested investors.
The update, included in its entirety below, discusses the Company's
recently announced warrant dividend, project for IMDEA Energia of Spain,
the Wisconsin Energy Independence Fund, stimulus opportunities being
pursued by the Company and SolRayo's upcoming open house.
Warrant dividend
Last week the Company was pleased to announce that its Board of Directors
has approved a dividend for shareholders, in the form of warrants. We
expect to be able to provide more information regarding the warrant
dividends shortly. We are currently waiting for regulatory review to be
completed before we can provide further details publicly.
In the meantime, the expected schedule is that on May 20, we will mail out
the warrant certificate agreements to all shareholders of record as of May
8, 2009. Each shareholder will receive a warrant to purchase one common
share for every two shares held as of May 8, 2009. In accordance with SEC
rules, the shares underlying the warrants will be restricted from sale on
the open market, but will be eligible to have the restriction removed after
they have been held for one year.
IMDEA
IMDEA Energia, in Madrid, Spain, received the ultracapacitor electrodes
from Enable IPC in March. They are assembling those into an ultracapacitor
device which will be used in a power conditioning unit for a "green" energy
demonstration project sponsored by the Spanish government. If the project
is successful, the Company will have a multi-million dollar opportunity in
renewable energy.
Wisconsin Energy Independence Fund
Enable IPC's subsidiary SolRayo successfully completed the first of four
objectives tied to the Wisconsin Energy Independence Fund grant announced
last October. The project continues to be on budget and on schedule.
The final deliverable, a 3000F prototype ultracapacitor under "real-world"
solar and wind load profiles, is due in April 2010.
Federal and state opportunities
We are pursuing a number of specific opportunities for federal and state
programs that are targeted at technologies that have a reasonable chance to
make major impacts in the US energy markets. The opportunities are
substantial and many programs are now beginning to be established with the
details on many of the opportunities just now being released. Many of these
will be substantial (between $500,000 to $10,000,000). We are monitoring
several programs specifically and are preparing a number of proposals to
address each. These include the Department of Energy's Energy Efficiency
and Renewable Energy Research program, the National Science Foundation's
Energy Efficiency Demonstration and Research program and some state energy
programs.
Open house
On June 4th, SolRayo will host an open house at its new facility at 4005
Felland Road, Suite 107 in Madison. Details will be announced at a later
date. All shareholders and interested parties are welcome to this event.
A copy of this corporate update is also available on the Enable IPC website
at: http://www.enableipc.com/update052009.html.
About Enable IPC Corp. (Intellectual Property Commercialization)
Enable IPC provides efficient, streamlined strategies for turning
technologies into products and bringing them to market. Though not limited
to nanotechnology or the energy industries, Enable IPC's growing portfolio
currently includes the exclusive rights to two break-through energy
technologies. The company seeks to turn technologies into products and is a
transparent, fair turnkey partner for sub-licensing and joint development
with other companies. For more information, please visit
www.enableipc.com.
Forward-Looking Statements
This release may contain forward-looking statements, such as "seeks,"
"estimated," "targeted" and similar terminology, that are 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.