Enable IPC reaches $4.5 million three-year deal for Ultracapacitors
Enable IPC Corp. announced that they have reached an agreement with a manufacturer of radio frequency identification (RFID) rags and readers “to provide ultracapacitor-based products to improve the range in which the tags can be read.”
The customer committed to purchase a total of $4.5 million in customized ultracapacitor devices from Enable IPC over the next three years. The total dollar amount of tags sold by the customers will likely be much higher than currently forecasted, said Enable IPC.
“RFID tags are used everyday all around the world,” said David Walker, CEO of Enable IPC Corp. “If you’ve used EZPass on a toll road, or had your pet embedded with a chip, you’ve likely used an RFID tag. The reports we’ve seen state that, despite the global economic recession, the RFID tag market is expected to grow significantly. Based on these reports, the compound annual growth rate could be 14%, and the market could exceed $8 billion in 2014. With an anticipated longer read range provided by our ultracapacitors, we are enthusiastic about the future of our relationship with our customer.”
ENABLE IPC CORP.
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