Tekes Grants Enfucell a Product Development Loan

Thursday, 31 January 2008 13:58

Tekes, the Finnish Funding Agency for Technology and Innovation (www.tekes.fi) has granted Enfucell a product development loan of 428.000 € for RFID application development.

“This loan strengthens our capability to continue developments in the area of RFID and sensors applications, and we expect major achievements in this area during 2008”, says Mr. Risto Huvila, Chief Operating Officer of Enfucell.

Enfucell Oy

Enfucell Oy is an Espoo based technology company that has developed the SoftBattery™, a thin and pliable 1.5 volt environmentally friendly energy source that can be utilized in disposable or short use products. The SoftBattery™ applications focus on RFID, sensors, intelligent packaging, cosmetics and pharmaceutical industries.

Enfucell has received many international awards for the development of the SoftBattery. In January 2007 the World Economic Forum in Davos named Enfucell as one of the world’s 47 leading technology pioneers. The American high technology publication, Red Herring named Enfucell as one of the promising European technology companies. In March 2007 the developer of the SoftBattery™, Dr. Xia-Chang Zhang, was elected in Beijing as one of the ten most influential foreign Chinese by China’s largest media companies.

Enfucell was founded in 2002 and retains the services of 20 people. In addition to private equity from the founders and business angels the company is ~14 percent owned by Veraventure Oy. The company is currently seeking additional capital for the funding of further development of the SoftBattery™ and to develop its operations in the United States and China.

For more information, please contact:

Risto Huvila, Chief Operating Officer
Tel. mob. +358 400 755 661
email. This e-mail address is being protected from spambots. You need JavaScript enabled to view it , www.enfucell.com