DANBURY, CT, Dec. 10, 2009-- Technipower Systems, Inc. (f/n/a Solomon Technologies, Inc.), announced today that it has expanded its business in the electric marine propulsion market with an initial system order from an Asian water taxi company. This order from this customer is the first of what is expected to be 20 systems totalling approximately $400,000. The customer chose the system based on the performance and reliability of Technipower’s other marine installations in and around the Singapore’s waterways.
Peter DeVecchis, President of Technipower Systems, Inc. said “Our success in focusing on commercial marine opportunities has spurred numerous possibilities in the Far East extending from Singapore to all corners of Asia. Technipower’s patented Electric Marine Propulsion System has proven itself in real world applications as a reliable, rugged solution in very hostile operating environments. Its performance has inspired some local governments to push legislation for clean, renewable motive power in their waterways”
He continued, “Our customer thoroughly investigated all of the available electric marine propulsion systems before deciding to retrofit its fleet with our products. We’re pleased that we have again been chosen as the preferred “green” solution. As we continue to invest in renewable and alternative energy opportunities, we believe our customers will increasingly understand the inherent benefits of our technology in all of our market segments including marine, electric vehicle and solar applications.”
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™ ground mounted solar system as well as its patented Electric Wheel® and Electric Transaxle™ 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 are identified and discussed from time to time in the company's filings with the Securities and Exchange Commission. The forward-looking statements contained in this release speak only as of the date hereof, and the company 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.
Peter W. DeVecchis, President
203-748-7001
www.technipowersystems.com
