The IEC working group focus on batteries specifically suited for storing energy from renewable energy sources and from the AC power grid demonstrates a growing understanding in the power generation industry that storing energy for use in peak power shaving, demand time shifting and load leveling will be key factors in the continued adoption of renewable energy sources.

“These orders validate the breadth of markets this product can address, the orders represent two military, one portable solar and one industrial application” says Steve Carkner, CEO of Panacis.

One military customer is using the batteries to operate remote communications systems in coastal waters all around the United States. This represents the first follow-on order for the product and is the start of what is expected to be a steady stream of larger military orders in this market niche.

“We installed the first communication system in the Gulf of Mexico in July, it has worked flawlessly. This gave our customer the confidence to place new orders and to start the budget process for much larger orders in the future” says Len Donais, VP Engineering for Panacis.

For more information about Panacis off-the-shelf modular battery solutions, or their custom mission-critical battery design services, please contact Steve Carkner – scarkner@panacis.com

 “The Deloitte Technology Green 15 Award recognizes those Canadian companies that offer solutions to global environmental challenges by creating intellectual property and technology that reduce society’s environmental impact,” said Richard Lee, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte. “Companies such as Panacis are creating technology solutions that have a significant environmental impact and demonstrate a compelling return on investment, despite facing tough economic times. In doing so, they are helping position Canada as a global leader in the development of commercially viable green technology.”

 Panacis CEO Steve Carkner counts the company’s ability to solve challenging technical problems and work closely with customers as among the main reasons for its early success in renewable energy storage. Its ground-breaking reusable lithium battery technology was initially hardened for mission critical U.S. military applications, focusing on low weight, modular design and long life. Today, the energy storage systems designed by Panacis range in size from tiny hand-held packs to systems weighing over a ton, each delivering unprecedented high reliability and high capacity storage performance for a range of highly specialized applications. The Panacis Medical Pack, for example, is designed for powering artificial hearts, while the Community Energy System provides reliable back-up power to communities that generate their own solar power. Unlike other battery products, Panacis systems are “smart,” allowing the battery packs to “talk” to each other to ensure that enough power is stored at all times and that, in the event of a single cell failure, the remainder of the system will adjust to continuously provide the required output.

 “Renewable energy is very important, but renewable energy storage is equally critical. When the U.S. military first expressed interest in our batteries, they asked if we were ready to take on some very difficult challenges.  We took those challenges on, and now we’re honoured to be receiving the Deloitte Technology Green 15^TM Award as a result,” said Carkner. “We have a portfolio of dozens of patents and a fast-growing order book. With the surging interest in renewable energy storage, we’re poised to be one of Canada’s green success stories.”

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About the Deloitte Technology Green 15TM – The Technology Green 15TM recognizes Canada’s leading GreenTech companies. GreenTech, the industry term for “green technologies”, is taking on greater importance in the world in general, and the world of business in particular. It includes any technology that promotes a more efficient use and re-use of the earth’s resources in industrial production and consumption. GreenTech products and services are designed to reduce or eliminate environmental impacts and improve operational performance, productivity, or efficiency while reducing costs, inputs, energy consumption, waste, or pollution. Although many companies within GreenTech industry sectors are very different, they share a common trait: all use new, innovative technology to create products and services that compete with existing products and services on price and performance while reducing impact on the environment.

About the Deloitte Technology Fast 50TM - The Deloitte Technology Fast 50TM program is Canada’s pre-eminent technology awards program. Celebrating business growth, innovation and entrepreneurship, the program features four distinct categories including the Technology Fast 50TM Ranking, Companies-to-Watch Awards (early-stage Canadian tech companies in business less than five years, with the potential to be a future Deloitte Technology Fast 50TM candidate,) Leadership Awards (companies that demonstrate technological leadership in four industry subcategories: hardware/semiconductor, software, telecommunications and emerging technologies) and the Deloitte Technology Green 15TM Awards (Canada’s leading GreenTech companies that promote a more efficient use and re-use of the earth’s resources in industrial production and consumption.) Program sponsors include Deloitte, Gowlings, Wellington Financial, TMX Group, HKMB Hub International, National Angel Capital Organization, CVCA, MaRS and IGLOO Software. For further information, visit www.fast50.ca.

About Panacis (www.panacis.com) — Fuelled by a spirit of innovation and creative, talented and passionate employees, Panacis is a leading global provider of advanced energy storage systems based on lithium polymer and other rechargeable technologies that help its customers realize their ideas and speed them to market. With comprehensive engineering capabilities that include advanced batteries, power systems, wireless, and electromechanical design, Panacis is a turn-key provider of research, design and manufacturing systems to meet unique energy storage challenges. Excelling at producing prototype and low-volume products and then ramping those products into high volumes, Panacis continues to bring innovation to product designs as they reach production. With a diverse set of suppliers and manufacturing partners, Panacis is able to bring its in-house manufacturing capabilities to solving renewable energy storage problems in the medical, industrial, consumer and defence markets.

Panacis is pleased to announced that Upward Techinal Solutions is now our official Manufacturer’s Representative. Upward Technical Solutions  is a Manufacturer’s Representative based in Huntsville Alabama that services the Defense and Aerospace markets  including Redstone Arsenal with design services , electronics and mechanical hardware for modernization and sustainment of DoD systems.

“On behalf of Upward Technical Solutions (UTS) we are excited to partner with Panacis in the Southeastern United States .  Our Defense and Industrial Customers are actively seeking  turnkey energy storage solutions  that can reduce the weight & size of their products.  Panacis’s battery technology will allow them to minimize their costly scheduled maintenance while extending the overall product life of their systems” – Jason Blaxton, UTS

“We have been seeking a solid manufacturer’s representative for some time, UTS brings the right mix of a strong technically oriented sales force combined with industry contacts and a solid reputation.” – Steve Carkner, Panacis

Ranking Canada’s Fastest-Growing Companies by five-year revenue growth, the PROFIT 200 profiles the country’s most successful growth companies. Published in the Summer issue of PROFIT and online at PROFITguide.com, the PROFIT 200 is Canada’s largest annual celebration of entrepreneurial achievement. “The PROFIT 200 companies are the innovative, high-growth enterprises Canada needs to compete on the global stage,” says Ian Portsmouth, Editor-in-Chief of PROFIT Magazine. “PROFIT is proud to celebrate their achievements and ambitions, and we encourage all businesspeople to learn more about the many ways they’ve come so far, so fast.”

About PROFIT

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 29 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 PROFITguide.com.

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

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.

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

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.

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.