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Investor Relations |
Press ReleasesSCI Engineered Materials Receives Award From Third Frontier Action Fund
COLUMBUS, Ohio -- October 17, 2003 -- Superconductive Components, Inc. (OTCBB: SCCI), today announced that SCI Engineered Materials, the Company's operating entity, and its project partners received a $1.2 million award from the Third Frontier Action Fund. This Fund is administered by the Ohio Department of Development to expand the state's high-tech research capabilities and create new jobs. This award is to scale-up manufacturing processes to produce materials to be used in lithium thin-film batteries. SCI Engineered Material's portion of the award is approximately $600,000, which will be used to purchase manufacturing equipment.
As previously announced, the Company plans to move into a larger manufacturing facility later this year. This will result in increased manufacturing capabilities to produce two critical materials, lithium orthophosphate and lithium cobalt oxide. With these materials, SCI Engineered Materials will be able to deliver low cost, high quality sputtering targets in larger quantities. These products are used by SCI Engineered Materials' customers to produce lithium thin-film batteries. Lithium thin-film batteries are 15 to 25 microns thick, or approximately one-fourth the thickness of a human hair. They provide flexible power for a wide range of applications, including Radio Frequency Identification ("RFID") tags, smart cards, portable electronic devices, such as cell phones and portable computers, and, in the future, medical devices. Daniel Rooney, Chairman and Chief Executive Officer, commented, "This funding is a pivotal event in our company's history. It will enable us to move from research efforts to scale-up and full production capabilities. SCI Engineered Materials is a leader in the production of materials used to produce lithium thin-film batteries." Mr. Rooney added, "The lithium thin-film battery market is beginning to take shape and is expected to grow rapidly during the next several years. Today, applications include Radio Frequency Identification ("RFID") tags are being used for improved inventory management and in-store security. Additional applications include smart cards for security and related purposes, portable electronic devices, such as cell phones and portable computers, and, in the future, medical devices. We appreciate this support from the Third Frontier Action Fund to pursue these exciting commercial market opportunities." Superconductive Components, Inc., operates through SCI Engineered Materials and manufactures advanced ceramics such as superconductors, ferroelectric and optical materials for use in wire, cable, batteries, wireless and fiber optics systems. The Company also provides materials for thin film applications used in photovoltaics, electronic switches, hardness and decorative coatings. The Company is a global materials supplier with clients in more than 40 countries. Additional information is available at http://www.sciengineeredmaterials.com. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Those statements include, but are not limited to, all statements regarding intent, beliefs, expectations, projections, forecasts, and plans of the Company and its management, and specifically include statements regarding scale-up of manufacturing to produce two critical materials, lithium orthophosphate and lithium cobalt oxide, and SCI Engineered Materials ability to deliver low cost, high quality sputtering targets in larger quantities (paragraph 2), expected growth of the lithium thin-film battery market (paragraph 5). These forward-looking statements involve numerous risks and uncertainties, including, without limitation: the availability of a new leased facility and the ability to move to such facility at the anticipated cost, the development of the thin film battery market, the impact of competitive products and services, the ability to adapt to technological changes, the availability of capital, and other risks and uncertainties detailed from time to time in the Company's Securities and Exchange Commission filings, including the Company's Annual Report on Form 10-KSB for the year ended December 31, 2002. One or more of these factors have affected, and could in the future affect, the Company's business and financial results in future periods and could cause actual results to differ materially from plans and projections. Therefore, there can be no assurances that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company, or any other persons, that the objectives and plans of the Company will be achieved. All forward-looking statements made in this press release are based on information presently available to the management of the Company. The Company assumes no obligation to update any forward-looking statements. ### |
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