|
Strategic Alliance with BlueChip Brings Paper-Thin Flexion® Batteries to Korean Bank Cards
Lakeland, Fla.—January 9, 2008—Solicore today announces a partnership with BlueChip ENP Co., LTD for the distribution of their ultra-thin Flexion® batteries in Korea. This agreement marks an effort by a number of Korean companies to comply with a mandate by the Korean FSA to increase the level of security for banking and financial transactions by adding multi-factor identity authentication applications to bankcards.
Solicore is uniquely positioned to arm financial card companies with the crucial component they need to comply with this mandate by powering the OTP applications with their less than half a millimeter thick Flexion batteries. As a distributor of microcrystal clocks for OTP card applications, BlueChip’s established network of relationships with key manufacturers and distributors in the rapidly expanding Korean market provides Solicore with invaluable leverage to strengthen their presence in the area.
“We have experienced an overwhelming wave of demand by Korean companies looking to incorporate Flexion batteries into their security applications to meet the FSA mandate,” says Solicore CEO David Corey. “Given the sheer volume of demand, as well as the idiosyncrasies and the nuances of dealing with international markets, an alliance with a local company was necessary for successful distribution of our product. As a Korean based company, BlueChip’s extensive knowledge of vertical markets domestically makes them an ideal partner to eliminate the typical challenges of doing business in the region.”
BlueChip approached Solicore after conducting a detailed analysis of what their Korean partners needed and where opportunities for growth existed. Flexion batteries’ unique ultra-thin design and flexibility make them a highly desirable match for companies looking to create a secure bankcard with the same size and shape as the credit and debit cards with which their customers are already familiar.
“Many of our customers design both event and time based OTP card applications, and our goal is to provide them with the best solutions to develop the most competitive products,” says Young-Joo Kim, Director of BlueChip. “Flexion batteries are the first and best power solution available for our customers.”
Since entering into their distribution agreement with Solicore, BlueChip has already secured two purchase orders for platforms using Flexion batteries scheduled to be deployed in the first quarter of 2008. 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 BlueChip ENP Co., Ltd. – BlueChip ENP Co., Ltd. is a Korea-based electronic components distributor. Their product line features elements that enable Korean customers to manufacture powered cards and RFID solutions with Microcrystal's ultra thin 32.768 kHz crystal plus RTC IC, Sipix Technology's black film e-paper and Solicore's thin film Flexion batteries. For more information, visit www.ibluechip.co.kr.
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.
|
