Technipower Awarded Missile Defense Power System Contract
13 Oktober 2009 - 2:30PM
PR Newswire (US)
DANBURY, Conn., Oct. 13 /PRNewswire-FirstCall/ -- Technipower
Systems, Inc. (Other OTC: TECZ), formerly Solomon Technologies,
Inc., announced today that it has been awarded a contract to supply
power systems for a missile defense system manufactured by a well
known, tier one military defense contractor. The contract is a part
of an international $3.3 billion program awarded to Technipower's
customer. Dan Connors, President of Technipower's Energy Solutions
group, commented, "As part of a rigorous review, the customer
awarded us the sole source contract after determining that
Technipower was the only technically qualified source. Our 50 year
history and reputation for quality and reliability were an
important part of the evaluation process. While the system details
are classified, we expect a flow of follow-on orders for these
power systems over the next three years." Connors continued, "Our
core competencies in power conversion are the critical foundation
of Technipower's increasing focus on renewable energy markets. Our
solar electric and electric drive technologies all build on this
foundation. As Technipower expands its market reach, this expertise
provides substantial competitive advantages, which we expect to
capitalize on in the near term." Information about Technipower
Systems, Inc.: Technipower Systems, Inc. (formerly Solomon
Technologies, Inc.) and its wholly owned subsidiary design and
manufacture electrical and electromechanical power systems
requiring high levels of reliability and ruggedness for defense,
aerospace, marine and commercial applications. The Company's
expansion in to the clean energy markets includes its Instant
Solar(TM) ground mounted solar system as well as its patented
Electric Wheel® and Electric Transaxle(TM) hybrid/regenerative
technologies for hybrid-electric and all-electric vehicles. FORWARD
LOOKING STATEMENTS: This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. The statements regarding Technipower Systems,
Inc. in this release that are not historical in nature,
particularly those that utilize the terminology such as "may,"
"will," "should," "likely," "expects," "anticipates," "estimates,"
"believes," or "plans," or comparable terminology, are
forward-looking statements based on current expectations about
future events, which management has derived from the information
currently available to it. It is possible that the assumptions made
by management for purposes of such statements may not materialize.
Actual results may differ materially from those projected or
implied in any forward-looking statements. Important factors known
to management that could cause forward-looking statements to turn
out to be incorrect have been identified and discussed from time to
time in the Technipower's filings with the Securities and Exchange
Commission. The forward-looking statements contained in this
release speak only as of the date hereof, and Technipower
undertakes no obligation to correct or update any forward-looking
statements, whether as a result of new information, future events
or otherwise. Contact us for more information Technipower Systems,
Inc. Daniel Connors 203-748-7001 http://www.technipowersystems.com/
DATASOURCE: Technipower Systems, Inc. CONTACT: Daniel Connors of
Technipower Systems, Inc., +1-203-748-7001 Web Site:
http://www.technipowersystems.com/
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