Rogers Corporation have recently announced that it has made a strategic investment of $5 million in Solicore, Inc., headquartered in Lakeland, Florida.
Solicore is the world leader for embedded power solutions, offering its patented Flexion™ advanced ultra-thin, flexible, lithium polymer batteries for smart cards, controlled access cards, RFID tags, and medical devices.
This investment, part of a total of $13.3 million raised by Solicore in the current financing round, provides Rogers a minority equity stake in Solicore and representation on Solicore's Board of Directors.
Rogers and Solicore also agreed to enter into a joint agreement to develop the next generation of power solution products that will strengthen and extend Solicore's market leadership position. Rogers will have the right to manufacture a portion of the products that result from this collaboration.
Robert C. Daigle, Rogers' Senior Vice President and Chief Technology Officer, stated, "We are very pleased to have this opportunity to partner with the industry leader for thin film lithium polymer batteries and expand Rogers' product and market reach. We believe Solicore's Flexion™ products will enable the next generation of secure access cards and medical devices. As a strategic investor and partner, we will work closely with Solicore's management team and engineers to develop the next generation of thin film batteries."
David B. Corey, Solicore's CEO, stated: "This exciting new partnership allows Solicore to leverage Rogers Corporation's expertise in the field of printed electronics and high volume manufacturing of specialty materials. This strategic relationship is expected to dramatically increase our manufacturing capacity and enhance Solicore's leadership position in the embedded power solution industry."
About Rogers Corporation
Rogers Corporation, headquartered in Rogers, CT, is a global technology leader in the development and manufacture of high performance, specialty-material-based products for a variety of applications in diverse markets including: portable communications, communications infrastructure, computer and office equipment, consumer products, ground transportation, aerospace and defense.
Rogers operates manufacturing facilities in the United States (Arizona, Connecticut and Illinois), Europe (Ghent, Belgium and Bremen, Germany) and Asia (Suzhou, China). In Asia, Rogers maintains sales offices in Japan, China, Taiwan, Korea and Singapore. Rogers has joint ventures in Japan and China with INOAC Corporation, in Taiwan with Chang Chun Plastics Co., Ltd. and in the U.S. with Mitsui Chemicals, Inc.
The world runs better with Rogers.® www.rogerscorp.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.