Power Technology, Inc. Announces Contract With B.C. Research Inc.
2 May 2000
Power Technology, Inc. Announces Contract With B.C. Research Inc. For Independent Testing Services
LAS VEGAS--May 1, 2000--Power Technology, Inc. (OTC BB: PWTC) announced today that it has contracted B.C. Research Inc. (www.bcr.bc.ca) of Vancouver, British Columbia to provide independent testing and verification of Power Technology's unique and patented battery technologies.Together with Power Technology's technical staff, B.C. Research Inc. will develop state-of-the-art processes in the following areas:
-- Prototype design, construction and testing for
high-performance, rechargeable, minimized lead-acid and high
performance minimized nickel-ferrous batteries.
-- Computer modeling to minimize prototype scale-up and
development costs and maximize prototype performance (e.g.
power per unit of weight and power per unit of volume).
BC Research will establish and operate a dedicated facility for Power Technology Inc. within the BC Research and Innovation Complex. BC Research will procure all the necessary equipment on Power Technology's behalf, and design, conduct and interpret all the required experiments.
BC Research will provide technical direction and leadership for the project and work in close collaboration with Power Technology's technical team in Las Vegas. The advantages of this approach to Power Technology Inc. are significant. From a small core program and facility, Power Technology can access a diverse R&D capability on an as-needed basis.
Lee Balak, President of Power Technology, Inc., stated, "We are very encouraged and excited to have B.C. Research undertake the task of completing our novel patented battery technologies. These tasks, once completed, will give our Company a giant step towards Original Equipment Manufacturer (OEM) acceptance and bring us to the doorstep of commercialization. The combination of our dedicated scientific team, B.C. Research Inc., coupled with our recent institutional investor, Swartz LLC (www.swartzllc.com), feels like a winning combination."
B.C. Research is a multi-disciplinary solutions-oriented technical development and services company based in Vancouver, B.C. They offer a complete range of integrated services to assist their customers in solving problems requiring custom cost-effective solutions: specialist technical services; consulting; proof-of-concept work; bench-scale development; pilot system development; applied research; and pre-engineering.
B.C. Research Inc. offers Canada's largest private, independent, non-government, non-university base of highly skilled electrochemical engineering talent and resources. Their key staff all have graduate degrees in this field with over 50 years of combined experience in electrochemical process and product development including intellectual property issues (e.g. patents and trademarks).
They have assisted TSE, NASDAQ, and NYSE corporations, including an established fuel cell corporation, using their well-equipped facilities and networks.
Technical, scientific, engineering and support staff at B.C. Research total approximately 100, with expertise in a wide range of technologies and applied sciences. Company facilities are located within Discovery Park at the University of British Columbia.
B.C. Research's customer base includes firms involved in: manufacturing, chemical, petro-chemical, agri-chemical, electrochemical, agri-food, government, military, public works, automotive, construction, engineering, electronics, systems and communications, energy, transportation, oil and gas, fisheries, forestry, pulp and paper, mining and processing, and health and education.
Power Technology, Inc. is a Las Vegas-based technology development company, which holds several patents in the power generation and power storage fields, and is working to provide innovative and practical technology solutions for commercial, government, and industrial applications worldwide.
Certain statements in this news release may constitute "forward looking" statements within the meaning of section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve risks, uncertainties, and other factors, which may cause the actual results, performance, or achievement expressed or implied by such forward-looking statements to differ.