Avestor Signs Battery Licensing Agreement with Solicore

May 23, 2002 by Jeff Shepard

Avestor (Quebec) has agreed to license solid-state electrolyte and battery technology developed by Solicore Inc. (Lakeland, FL). The two companies plan to jointly develop the patented technology, a dry electrolyte that is a non-compressible, non-combustible and non-toxic film, so it can be used in products being developed by Avestor for the automotive, telecommunications and energy utility markets.

"After evaluation, we are convinced not only that Solicore's revolutionary technology is a quantum leap in development for the battery industry but that it is commercially viable and can be applied to several of our products," said Avestor President and CEO Tadek Borys.

"We're pleased that our technology has met Avestor's rigorous review standards," said Solicore President and COO Robert Singleton. "Avestor's evaluation supports our belief that our technology will be the catalyst for major advances in how the battery industry supplies power."