Rogers Corporation and Optodot Corporation Entered into a Strategic Development Agreement
ROGERS, Conn. -- Rogers Corporation (NYSE:ROG) and Optodot Corporation of Boston, Massachusetts USA have announced that the two companies have entered into an agreement to focus on technology and business development of new membrane film products for battery and energy storage applications. The agreement will have Rogers and Optodot working together to finalize the product development and Rogers selling the separator products. Rogers also retains an option to purchase Optodot’s membrane technology. The alliance between the companies is in response to the rapid growth of energy storage requirements in transportation, military, and consumer electronics.
Optodot President and CEO Steven A. Carlson, Ph.D. stated, “We are delighted with our new relationship with Rogers. All of us at Optodot have been working to develop our nanoporous membrane technology. In our early discussions with Rogers, it was clear that there were synergies between the companies in our collective capabilities, target markets, and interests in commercializing new and exciting technologies and products. By combining our SuperSafe™ separator technology with Rogers’ worldwide leadership in electronic materials, new opportunities have been opened up for both companies.”
Robert C. Daigle, Rogers Vice President of R&D and Chief Technology Officer, stated, “This relationship with Optodot is part of our ongoing effort to partner with small companies that have enabling technologies we can help fully develop and commercialize. We believe this heat-resistant nanoporous membrane technology could lead to safer, higher performance batteries for applications ranging from portable electronics to hybrid vehicles. We’re excited about this opportunity to work with Steve and his team to commercialize innovative product solutions for the energy storage market.”
Safe Harbor Statement
Statements in this news release that are not strictly historical may be deemed to be “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s current expectations and are subject to the many uncertainties that exist in the Company’s operations and environment. These uncertainties, which include economic conditions, market demand and pricing, competitive and cost factors, rapid technological change, new product introductions, legal proceedings, and the like, are incorporated by reference in the Rogers Corporation 2005 Form 10-K filed with the Securities and Exchange Commission. Such factors could cause actual results to differ materially from those in the forward-looking statements. All information in this press release is as of June 9, 2007, and Rogers undertakes no duty to update this information unless required by law.
Optodot Corporation, founded in 2000, and headquartered in Boston, Massachusetts USA, develops nanoscale materials for the energy and security markets. Optodot’s patented technology includes nanoporous membranes and infrared (IR) optical materials. Products range from components for lithium batteries to solar control window films, security markings, custom IR optical films, and organic photovoltaics (OPVs).
Rogers Corporation, headquartered in Rogers, CT, U.S.A., develops and manufactures high-performance specialty material based products, which serve a diverse range of markets including: portable communication devices, communication infrastructure, consumer products, computer and office equipment, ground transportation, and aerospace and defense. Rogers operates manufacturing facilities in Connecticut, Arizona, and Illinois in the U.S., in Gent, Belgium, in Suzhou, China, and in Hwasung City, Korea. Sales offices are located in Belgium, Japan, Taiwan, Korea, China, and Singapore.
Contacts
Optodot Corporation
Steven A. Carlson, PhD, 617-562-0800
President and CEO
Fax: 617-562-0811
scarlson@optodot.com
http://www.optodot.com
or
Rogers Corporation
Michael E. St. Lawrence, 860-779-5581
Director of New Business Development
Fax: 860-779-5748
mike.stlawrence@rogerscorporation.com
http://www.rogerscorporation.com
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