News 2010

DENVER, Colorado – November 22, 2010 – Bye Energy, Inc., an integrator of alternative energy technologies for business and general aviation aircraft, has signed an agreement with Panacis, a designer and manufacturer of advanced mobile power products. The companies are collaborating on the development, integration and manufacturing of battery storage systems for Bye Energy’s electric and electric-hybrid propulsion system for general aviation aircraft.

George Bye, CEO of Bye Energy, said Panacis is an exciting, experienced developer of battery systems that is making a vital contribution to the program. “Panacis plays a critical research and engineering role in the assembly of our alternative energy system,” Bye said. “Panacis technology will allow us to unlock the capabilities of our advanced lithium cells, making the electric Cessna 172 battery units among the most advanced in the world.”

Steve Carkner, CEO of Panacis, sees that Bye Energy is expanding the possibilities of aviation power systems, and is creating a compelling showcase for Panacis’ innovative aviation battery products. “Panacis has been turning heads in the aerospace industry with its high performing and efficient advanced lithium battery systems,” he said. “We are excited to be part of this ground-breaking project, and are confident that our aircraft battery and power systems will enable Bye Energy to unlock and advance the performance potential of their electric propulsion system.”
About Bye Energy

Formed in 2008, Bye Energy is developing an electric and electric-hybrid propulsion system for light general aviation aircraft, announcing “The Green Flight Project” (www.TheGreenFlightProject.aero) earlier this year. The company is also collaborating with Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, to design and develop an electric propulsion system for a Cessna 172 proof of concept aircraft. Bye Energy is headquartered on Centennial Airport in Englewood, Colo., and also has offices at Rocky Mountain Metro Airport, in Scottsdale, Ariz., and Albuquerque, N.M. For more information, go to www.ByeEnergy.com.
About Panacis

Panacis is a leading global provider of collaborative product development services that enables its customers to conceive and realize their ideas, and accelerate them to market. With comprehensive engineering capabilities that include advanced batteries, power systems, wireless, and electromechanical design, Panacis is a designer and manufacturer of innovative technology products. Panacis was founded in 2002 and has since become one of Canada’s fastest growing companies. It is based in Ottawa, Canada with product partners around the world. For more information, visit www.panacis.com.

June 2, 2010 — OTTAWA, ON – Panacis, a provider of collaborative product development services and advanced battery power systems, announced today that it has been listed in the 22nd annual PROFIT 100 ranking of Canada’s Fastest-Growing Companies. This announcement marks the second consecutive year that Panacis has appeared in the PROFIT 100 rankings. 

Ranking Canada’s Fastest-Growing Companies by five-year revenue growth, the PROFIT 100 profiles the country’s most successful growth companies. Published in the June 2010 issue of PROFIT and online at PROFIT100.com,  the PROFIT 100 is Canada’s largest annual celebration of entrepreneurial achievement. “Canada’s Fastest-Growing Companies are the poster children for entrepreneurship, innovation and pure tenacity,” says Ian Portsmouth, editor of PROFIT. “They demonstrate what it takes to succeed in today’s highly competitive, technology-driven global economy.”

“It’s an honor once again to be recognized as one of Canada’s fastest growing companies,” said founder and CEO of Panacis, Steve Carkner. “That we are able to capture this award a second year is due to the tremendous efforts of our staff and the continued loyalty of our customers. We view this as further validation of our maturing business strategy.”

The announcement follows recent news that Panacis acquired key technology assets from former battery engineering firm Lux Aviation Engineering, and subsequently opened a research facility in Tucson, Arizona. “Our recent growth has been fuelled by our track record of innovation, particularly in the field of advanced battery power systems,” said Gregory Bridgett, Chief Operating Officer of Panacis. “With this acquisition we expect to build on our successes and realize our potential to become a leader in this high-growth market.”

About PROFIT

Your Guide to Business Success is Canada’s preeminent publication dedicated to the management issues and opportunities facing small and mid-sized businesses. For 28 years, Canadian entrepreneurs and senior manag­ers across a vast array of economic sectors have remained loyal to PROFIT because it’s a timely and reliable source of actionable information that helps them achieve business success and get the recognition they deserve for generat­ing positive economic and social change. Visit PROFIT online at www.profitmagazine.ca.

About Panacis

Panacis is a provider of collaborate product development services and advanced battery solutions. With comprehensive engineering and production capabilities, Panacis enables its customers to conceive and realize their ideas, and accelerate them to market. Collaborating with technology companies, entrepreneurs, and researchers, Panacis develops products for defense, medical, industrial, and consumer markets. A manufacturer of regulated products with an ISO quality management system, its manufacturing facility produces early-stage and low-volume products. Panacis is based in Ottawa and has a research facility in Tucson, Arizona. Visit Panacis online at www.panacis.com.

Contact: Steve Carkner, Panacis, scarkner@panacis.com

May 31, 2010 — TUCSON, ARIZONA - Panacis, a provider of collaborative product development services and advanced battery solutions, has officially announced the opening of a research and development facility in Tucson, Arizona. This news follows a recent announcement by Panacis that it has acquired the technology assets of Tucson-based Lux Aviation Engineering in March 2010. The Tucson facility will be responsible for advancing the recently acquired technologies, and for developing new and innovative battery and power product concepts. The expansion further reflects strategic investments by Panacis to broaden its offerings for advanced battery technology markets.

Former Lux employees, the Tucson staff is to focus on development of aerospace battery products. The initial project will be the finalization of the newly acquired ‘main ship battery’, a high-power, advanced lithium battery for use in engine start applications. “We’re excited to have access to such strong engineering talent,” said Steve Carkner, Chief Executive Officer of Panacis. “They will be instrumental in helping us to realize the full benefit of our technology acquisition.” The Tucson facility will also develop a line of lithium-based emergency battery products for commercial and military aviation applications. This line of lithium-based emergency batteries will also satisfy the market demands for electric vehicles and industrial applications.

The Tucson facility represents a new presence in the United States for Panacis, which is a Canadian-based company. “Our new location will facilitate business with some of our US-based customers,” said Gregory Bridgett, Chief Operating Officer of Panacis.

Corporate operations, including those for Tucson, will continue to be managed out of the Panacis headquarters in Ottawa, Canada.

March 4, 2010 — OTTAWA, CANADA – Panacis, a provider of collaborative product development services, announced that it has acquired the core technology assets of Tucson-based battery engineering firm, Lux Aviation Engineering Corp. The acquisition includes a family of battery pack and power systems designs for a range of commercial aviation and defense applications. Panacis will immediately begin advancing these designs, pursuing key regulatory certifications, and undertaking production for key customers.

Among the technologies acquired, most notable is the Lux “Electro-Batt” design: an advanced concept for a high-power, low-weight battery platform for engine start applications. Designed for use as a drop-in replacement, the Electro-Batt platform offers substantial savings in weight, performance, and maintenance costs over currently-available battery technologies. It has been trialed on commercial aircraft, helicopters, and ground vehicles. “The Electro-Batt platform is highly advanced and unique in the market,” said Steve Carkner, Chief Executive Officer of Panacis. “It comprises years of effort and millions of dollars of investment by some extremely talented and experienced aerospace engineers.”

The acquisition extends Panacis collaborative product development services, and reinforces its capabilities as a developer of advanced battery power systems. “From implantable medical devices to high performance aircraft, Panacis has a strong track record developing battery solutions for a range of mission critical applications,” said Gregory Bridgett, Chief Operating Officer of Panacis. “We are excited to be able to broaden our offering with this innovative, high-performance technology.” Also included in the acquisition is a range of smaller battery system designs for commercial aviation and medical device applications.

The strategic investment is significant for Panacis signaling its intention to become a leading supplier of advanced battery and power systems products. Panacis expects to advance the newly acquired technology to develop custom and turnkey mobile power solutions for defense, aerospace, and medical markets.