Enfucell Receives First VC Round of Financing
02-03-2006,

Press Release, Enfucell Ltd., a Venture Cup winner from year 2002, has gathered 0.6 M€ financing package for R&D and commerciali-zation of thin flexible paper battery, SoftBatteryTM. Replicon Corporate Finance Ltd. acted as a financial advisor for the Finnish company in this preliminary financing round. Enfucell and Replicon will continue their advisory agreement. The target is to gain major financial package for global market penetration of Enfucell’s products in 1-2 year time frame.

Enfucell has developed a novel, thin, flexible battery - SoftBattery™ - for disposable and/or mobile electronic devices and applications which include, but are not limited to: cosmetics, smart cards, micro sensors, greeting cards, LEDs on paper, bi-stable displays, and semi-active radio frequency identification or RFID.

Replicon helped the company in receiving outside financing by arranging meetings and helping in the negotiations. Additionally Replicon gave advice on the fair valuation level of the Company in the financing round. We also consulted the Client in amending their Shareholders’ Agreement to the level that is needed in relation to this kind of financing arrangement.

The parties of this financing packages want to keep further information as confidential.

For further information on Replicon services, please contact:
Petteri Hirvonen, CEO, Replicon Group +358-(0)50-552 96 33,

petteri.hirvonen@replicon.fi

Replicon Group is an independent corporate finance, consulting and asset management advisory house based in Helsinki. Replicon provides strategic and financial solutions that facilitate business activities, efficiency, and increase profitability of corporations and other organizations. Our core competence is in the corporate solutions that facilitate and govern growth of businesses based on innovation. An important part of our activities is continuous learning. We want to find and develop most suitable solutions to our customer needs. Replicon Group’s special focus areas are Life-Science and ICT/Mobile sectors. In these sectors Replicon provides also asset management advisory. The main shareholders in Replicon Group are its key management, holding majority of the company’s shares. Replicon’s homepage is www.replicon.fi