Cymbet to Open World’s Highest Volume Solid-State Battery Manufacturing Facility

Cymbet Corporation announced that it has reached an agreement with X-FAB Texas Inc. to open the world’s highest volume solid-state battery (SSB) production facility in Lubbock, TX.

This new advanced EnerChip SSB production facility significantly increases Cymbet’s manufacturing capacity to supply the growing global demand for Cymbet’s EnerChip devices. Financing for this project was secured through a partnership with the Lubbock Economic Development Alliance (LEDA), Texas Economic Development Bank, X-FAB Texas, Inc., and Cymbet Corporation.

The new Cymbet facility implements a “fab in a foundry concept” where the EnerChip manufacturing capability is integrated within X-FAB’s Lubbock facility.

“X-FAB is the ideal partner for Cymbet,” said Morgan Thoma, Cymbet vice president manufacturing and operations. “Their technical capabilities, manufacturing expertise and quality systems, including ISO 9001/9002, ISO/TS 16949 and ISO 14001 certifications, are the perfect match for Cymbet’s manufacturing expansion.”

“Partnering with Cymbet demonstrates X-FAB’s commitment to our customers’ long-term success,” Lloyd Whetzel, president and CEO of X-FAB Texas Inc., added. “This EnerChip solid state battery fabrication facility extends our manufacturing capabilities into new cutting-edge technologies.”

The new EnerChip facility will significantly increase Cymbet’s manufacturing capacity. Production will start in second quarter 2011 with additional space set aside for future growth.

“We are thrilled that Cymbet is coming to Lubbock,” said Marc Farmer, LEDA business recruitment director. “Bringing a high-tech renewable energy storage device company to Lubbock with a multi-million capital investment and the addition of 100 new jobs over the next five years is an important milestone in our economic development plan.”

“Texas” low taxes, reasonable and predictable regulatory environment and skilled workforce have helped make the Lone Star State the premier location for business expansion in the U.S.,” Gov. Rick Perry said. “Thanks to the Texas Economic Development Bank, companies like Cymbet Corporation are expanding their operations in Texas and helping drive our state”s economic engine.”

Monte Johnson, Cymbet CFO, added, “Cymbet could not have realized this advanced EnerChip production facility without the support of LEDA, Tom Martin, the mayor of Lubbock and the Lubbock City Council, the Texas Economic Development Bank, and X-FAB Texas Inc. We’re very thankful for their support.”

“In addition to our new Texas facility, Cymbet also is expanding in Minnesota. Over the last 10 months, we’ve grown our Elk River, MN, staff by more than 20 percent,” said Bill Priesmeyer, Cymbet CEO. “We are committed to Minnesota and will add to our headquarters, R&D, manufacturing, sales and marketing staff as the business warrants. With recent capital investments in our Elk River facility and the new Lubbock production facility, Cymbet is now the only solid state battery manufacturer in the world to have two geographically diverse manufacturing facilities. This dual source manufacturing capability insures continuous product availability for our customers worldwide.”