DANBURY, CT, December 16, 2009-- Technipower Systems, Inc. announced today that Tom Thompson, its Director of Renewable Energy Systems, provided public commentary in support of Solar Energy, to the Connecticut Clean Energy Fund (CCEF) at its meeting at the State Capitol Building in Hartford, CT on Thursday, December 3.
“Solar power can be a key component in the solution to Connecticut’s energy challenges”, said Thompson, “but what people don’t know is that solar power is an economic development engine, creating more jobs per dollar invested than any other energy technology.” Thompson praised the CCEF for its work in laying the foundation for a vibrant solar market in Connecticut. “Technipower supports the on-going efforts of the CCEF and encourages them to adopt a performance based incentive program for solar, similar to the Feed In Tariff system that is being used in Germany which has become the world’s largest solar market in spite of getting much less sunshine that we get in Connecticut”.
Thompson’s responsibilities include sales and marketing of the Instant Solar™ products and expanding Technipower’s presence in all facets of the renewable energy space. Over the past two years CCEF received $120M in ratepayer funds that were used for grants, incentives, and rebates for a variety of clean energy technologies, a significant portion of which was used to support solar projects. CCEF reports that the next biennial allotment will be significantly less, closer to $60M. In April 2010, CCEF will make a recommendation to the Connecticut Department of Public Utility Control on how to allocate the $60M that will be available July 1, 2010.
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.
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Technipower Systems, Inc.
Daniel Connors
203-748-7001
www.technipowersystems.com
