Ioxus Receives NYSERDA Grant for Product and Company Expansion

New York State Awards 18 Businesses Funding as the Demand for Cleantech Energy Continues

Oneonta, N.Y., December 11, 2009 – Ioxus, Inc., developers and manufacturers of innovative ultracapacitor technologies for a wide range of energy storage markets, today announced it received $200,000 from the New York State Energy Research and Development Authority (NYSERDA) Grant to launch its high-voltage device, accelerate sales growth and access new markets. The grant was awarded to fund 18 clean-energy businesses in New York State to help companies expand, commercialize cutting-edge technologies and create new-economy jobs in New York.

NYSERDA helps New York businesses increase their access to markets, customers, investors and partners, and build their capacity to serve a new or expanded customer base. The awards, which totaled up to $200,000 per company and require an equal match from the businesses, will help recipients create jobs, develop business plans, reach customers in the global marketplace, raise capital and build their business infrastructure.

Ioxus is driving sales globally in the alternative energy market to provide electric double layer capacitors (EDLCs) and power modules for military, transportation and alternative energy applications. NYSERDA also awarded up to $1.5 million to Ioxus in April 2009 to support the company’s manufacturing facilities. As a result of the NYSERDA program, Ioxus has raised about $6 million in venture capital funding to support company growth and development of its solutions.

“This grant is a confirmation of the market need for cleantech solutions from an economic and environmental perspective,” said Chad Hall, COO of Ioxus. “Design engineers recognize that ultracapacitors enhance energy efficiency and functionality by extending charge time and reducing the use of batteries for green technologies. As this continues, we will put our efforts toward providing the industry with best-of-breed solutions to meet market demand.”

About Ioxus, Inc.

Ioxus is the only company that develops, manufactures and commercializes innovative ultracapacitor technologies entirely in the United States. The company provides cost-effective, green-energy solutions for the military, transportation and alternative energy markets. The Ioxus family of ultracapacitors is uniquely optimized for high performance with low resistance, ideal for delivering high power bursts for acceleration, energy recapture, peak load shaving and high-power applications. Ioxus was established by the parent company, Custom Electronics, Inc., which has supplied commercial and military clients with high reliability capacitors and integrated electronic assemblies since 1964. Ioxus is headquartered in Oneonta, N.Y. For more information, visit www.ioxus.com.

For more information, contact:
Melissa Cohen
Metis Communications
617-236-0500