PolyCharge and Mitsubishi Heavy Industries Enter into Joint Development and Supply Agreement

TUCSON, Ariz., April 17, 2023 /PRNewswire/ -- PolyCharge America, Inc. ("PolyCharge"), announced today that Mitsubishi Heavy Industries, Ltd. ("MHI"), and PolyCharge have entered into a Joint Development and Supply Agreement to facilitate the development and supply of capacitor products based on PolyCharge's revolutionary NanoLam™ technology. MHI also confirmed, as part of this transaction, that it has acquired an ownership stake in PolyCharge. Terms of the investment were not disclosed.

"Our partnership with Mitsubishi Heavy Industries is a testament to the potential of our NanoLam™ technology to revolutionize the capacitor industry. With MHI's expertise and investment, we are poised to bring next-generation capacitor solutions to the electrification market," said Steven Yializis, Chief Operating Officer of PolyCharge.

"Our partnership with PolyCharge solidifies our position as a leader in electrification - enabling us to provide innovative and premium performing solutions to our customers. This Joint Development and Supply Agreement serves as a testament to our commitment to delivering cutting-edge technology and unparalleled expertise as a world-leading industrial group," said Tomoaki Omura, Senior General Manager of Growth Strategy Office.

PolyCharge expects that the Joint Development and Supply Agreement will act as a foundation to encourage collaboration and integration on next-generation capacitor products for electrification applications. PolyCharge is well positioned to custom design, develop, and supply tailored solutions for MHI's future electrification projects.

PolyCharge's product engineering teams remain focused on supporting MHI's leading position in its markets by developing differentiated capacitor solutions.

About PolyCharge

PolyCharge (www.polycharge.com) was formed by Sigma Technologies (www.sigmalabs.com) to commercialize its NanoLam™ Technology for electric drive vehicles, renewable energy inverters, medical, aerospace, and industrial mobility applications. The company's headquarters, engineering, and product development center are located in Tucson, Arizona.

About MHI

Mitsubishi Heavy Industries (MHI) Group is one of the world's leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com - or follow our insights and stories on spectra.mhi.com.

SOURCE PolyCharge America