Solicore Secures Additional Funding to Fuel Worldwide Growth

LAKELAND, Fla.--(BUSINESS WIRE)--Solicore, the world’s leading supplier of ultra-thin, flexible solid-state electrolyte batteries, has secured additional funding to help accelerate their already rapid worldwide growth. BlueCrest Capital Finance, L.P. has pledged $5 million in debt financing, adding to the $3 million in convertible debt financing Solicore has also recently received from venture capitalists, including Draper Fisher Jurvetson, Rho Capital Partners, OPG Ventures, Braemar Energy Ventures and Firelake Capital Management.

“The international demand for our Flexion batteries speaks volumes about our growth prospects”

Solicore provides its patented Flexion® battery technology for use in smart cards, RFID devices and micro medical applications developed by global companies requiring a thin, flexible onboard power solution. With its proprietary Flexion batteries, Solicore has emerged as a leader in the global marketplace, migrating the industry to next generation technology and helping its customers introduce more advanced, sophisticated capabilities than previously possible.

“Solicore offers a compelling product-enabling technology, which uniquely meets the needs of companies looking for smaller and more durable embedded power solutions for new applications,” says Michael Marziani, Managing Director of BlueCrest Capital Finance. “We have been following the company’s progress over the last four years, and are impressed by both the results Solicore has already achieved and their tremendous potential.”

Already leading the market in Asia and Europe, this new round of financing allows Solicore to continue building key relationships with manufacturers and suppliers across the globe, as well as within the United States.

“The international demand for our Flexion batteries speaks volumes about our growth prospects,” says Solicore CEO David Corey. “This new round of financing builds even more momentum for Solicore as the company continues to expand into additional markets.”

For more information about Solicore’s 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 BlueCrest Capital Finance, L.P.

BlueCrest Capital Finance, L.P., a US based commercial finance company, provides debt financing solutions to development stage companies in a broad range of industry sectors including IT, Communications, Hardware, Software, Semi-Conductor, Electronics, Energy, Medical Device and Life Science. The team, which has been together continuously since 1998, pursues debt transactions in the $1-25 million range and has consummated approximately 800 transactions with total commitments in excess of $1.8 billion.