Ynvisible Sells Contract Manufacturing Services
Vancouver, British Columbia--(Newsfile Corp. - January 28, 2020) - Ynvisible Interactive Inc. (TSXV: YNV) (OTCQB: YNVYF) (FRA: 1XNA) is pleased to announce the first industrial scale production of an innovative and groundbreaking energy storage technology developed by researchers at Linköping University and the company Ligna Energy AB. Ligna Energy's batteries are printed from residual material from the forest. The first industrial production run was carried out at Ynvisible Production in Linköping, Sweden.
Ligna Energy shows off a wooden battery manufactured at Ynvisible Production. On the Left is Jakob Nilsson, CTO, and to his right Peter Ringstad, CEO. (Photo Lasse Hejdenberg / Hejdlösa bilder)
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"A change to a fossil-free energy system is required. Large amounts of electricity must be stored for those periods when neither the sun is shining nor the wind blowing," said Peter Ringstad, CEO of Ligna Energy. "Our vision is to provide the globe with a scalable, environmentally friendly and cost-effective energy solution for a sustainable future."
In 2019, Ligna Energy proved a lab-scale process for the manufacturing of the batteries. With production upscaling at Ynvisible Production, the capacity is significantly increased, and this allows Ligna Energy to mature further its producibility. The goal for Ligna Energy in the long term is to deliver battery packs in much larger volumes for a commercial market.
"Now we can go from laboratory-made prototypes to industrially produced battery cells. Ynvisible Production AB has acted as a facilitator for us and it is partly thanks to their expertise and capacity that we can develop our product into a scalable solution," said Peter Ringsted.
Ynvisible Interactive Inc. completed the acquisition of Consensum Production AB of Linköping, Sweden on August 21, 2019. The acquisition is intended to position Ynvisible as a leading provider of electrochromic printed display solutions for high volume applications and further expand the company's production and system integration capabilities of other printed electronic components and systems. Consensum Production AB was renamed to Ynvisible Production AB. Ynvisible has recently announced a growing base of client relationships aiming to benefit from the company's high-volume, high-quality production up-scaling capabilities. Recently, Ynvisible has announced client relationships with Invisense AB, Epishine AB, Identiv Inc. and now Ligna Energy AB.
"We at Ynvisible Production are glad that our capabilities and service to scale up production in the field of printed and organic electronics are recognized by Ligna Energy for the production of their groundbreaking energy storage technology. We are also happy to see the increase in the number of customers from the growing cluster of Printed and Organic Electronics in East Sweden and the Printed Electronics Arena network. We look to expand this client base internationally," said Tommy Höglund, VP Sales & Marketing, Ynvisible.
About Ligna Energy AB
Ligna Energy provides an affordable and environmentally friendly solution for large-scale energy storage that promotes a global accelerated shift towards fossil-free energy production. Ligna Energy AB is a Limited company from Sweden.
About Ynvisible Interactive Inc.
Ynvisible is a leading company in the emerging printed and flexible electronics sector. Given the cost and power-consumption advantages over conventional electronics, printed electronics are a key enabler of mass adoption of the Internet of Things ("IoT") and smart objects. Ynvisible has experience, know-how and intellectual property in the field of electrochromic materials, inks, and systems. Ynvisible's interactive printed graphics solutions solve the need for ultra-low power, mass deployable, & easy-to-use electronic displays and indicators for everyday smart objects, IoT devices, and ambient intelligence (intelligent surfaces). Ynvisible offers a mix of services, materials and technology to brand owners developing smart objects and IoT products. Ynvisible Production AB, a fully-owned subsidiary of Ynvisible Interactive Inc, is a contract manufacturer of printed electronics and hybrid systems and is located in Linköping, Sweden.
ON BEHALF OF THE BOARD OF DIRECTORS
"Jani-Mikael Kuusisto"
CEO
For additional information regarding Ynvisible Interactive and other corporate information, please visit the Company's website at
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For further information on Ynvisible Interactive Inc., please contact:
Elyssia Patterson, Investor Relations
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Peter Ringstad, CEO
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Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Ynvisible Interactive Inc. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Ynvisible Interactive Inc. management on the date the statements are made. Except as required by law, Ynvisible Interactive Inc. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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