Strategic Polymer Sciences Enter Joint Development Agreement with Solvay Solexis to Develop Ultra-High-Energy Density Capacitor Materials
Sunday, September 28, 2008 at 08:17AM State College, Pa, September 25, 2008 – Strategic Polymer Sciences (SPS), which specializes in polymeric electronic materials, has announced that it has struck a joint development agreement with Solvay’s affiliate for fluorinated resins, Solvay Solexis, about large-scale production of ultra-high-energy density capacitor dielectric materials based on biaxially-oriented Polyvinylidene Fluoride (PVDF). Solvay ranks second worldwide in fluoromaterial production.
SPS has patents on using these materials in capacitor applications, which are aimed at a variety of specialty capacitor markets including hybrid electric vehicles and defibrillators. Some of the main benefits from the materials for hybrid electric vehicle systems are lower cost and weight-saving and thus an increased energy-efficiency. Defibrillators are medical devices which serve to detect cardiac arrhythmia and correct it by delivering a jolt of electricity. The global capacitor market for hybrid vehicles is estimated at a conservative $1.6 billion by 2015.
“This joint development agreement with one of the world’s top chemical companies is an important step in the growth of Strategic Polymers,” said Ralph Russo, co- founder, president and CEO of Strategic Polymer Sciences. “The agreement will enable SPS technology to enter the market much more quickly and allow Solvay to enter a new high-value market.”
“This agreement demonstrates how innovation can improve our everyday-life by delivering products which enable us to save energy or to improve medical care”, said Pierre Joris, CEO of Solvay Solexis. “This is fully in line with the direction in which Solvay Solexis wishes to develop its future. The prospects for such new products look very promising.”
About SPS
Strategic Polymer Sciences, Inc. (SPS) is a closely held company which commercializes polymeric electronic materials and devices that will revolutionize energy storage and medical therapeutics. Strategic Polymer Sciences was founded in 2006 by Ralph Russo—a Silicon Valley business leader with prior senior executive experience at Apple Computer, AlliedSignal, Nortel, and Bay Networks—and Dr. Qiming Zhang—Distinguished Professor of Electrical Engineering and Materials Science at The Pennsylvania State University and one of the world's leading experts in electro active materials. The company is headquartered in State College, PA.
About Solvay
SOLVAY (NYSE Euronext: SOLB.BE - Bloomberg: SOLB.BB - Reuters: SOLBt.BR) is an international chemical and pharmaceutical Group with headquarters in Brussels. It employs more then 28,000 people in 50 countries. In 2007, its consolidated sales amounted to EUR 9.6 billion, generated by its three sectors of activity: Chemicals, Plastics and Pharmaceuticals. More details are available at www.solvay.com.