Power Air & eVionyx To Cooperate On Commercialization Of Zinc Air Products
Power Air Corp. announced that it has entered into a Memorandum of Understanding ("MOU") with eVionyx, Inc., a Reveo subsidiary.
In accordance with the terms of the MOU, the companies will cooperate to shorten the time to market, introduction and shipment of Power Air’s Zinc Air Fuel Cell (ZAFC) powered products for portable electronic devices, including the Z Series Powerpacks. eVionyx will provide its air diffusion electrode, O-CAT™, and use its ISO certified manufacturing facility to produce Power Air’s Powerpacks according to Power Air’s design and specifications. Following successful completion of the MOU activities, the parties plan to enter into a Definitive Agreement.
"Both Power Air and eVionyx possess Intellectual Property that, when combined, present a lucrative win-win opportunity," stated Donald Ceci, President and CEO of Power Air. "Moreover, this cooperative effort with eVionyx will reduce the time to commercialize our Powerpacks and other products, and avoid costly duplication of product development and manufacturing capabilities that eVionyx already has in place."
Sadeg M. Faris, Ph.D, founder, Chairman and CEO of eVionyx, added, "I have known Don Ceci for quite some time and have great confidence in working with him to successfully advance both of our missions. I believe in his vision and where he wants to take Power Air Corp.."
Power Air states that it plans to position its ZAFC Powerpacks as the solution to bridge the ’power gap’ and provide consumers with extended runtimes for their mobile devices. The company claims that demand for uninterrupted mobile power is only expected to increase as handheld devices continue to become more power hungry and offer users more converged applications, such as advanced color screens, wireless capabilities, GPS functions, TV broadband functions and other innovations.
In January 2008, Power Air demonstrated its Powerpack prototypes at the 2008 International CES in Las Vegas and again in February at the 2008 Fuel Cell Expo in Tokyo, Japan. In addition, it has conducted several end user focus groups where users provide feedback on all aspects of the Powerpack. Power Air is applying the feedback from these events to improve the design and features of its Powerpacks before official commercial launch.