11th Aug 2005 07:00
Turbo Genset Inc.11 August 2005 Thursday 11th August 2005 Turbo Genset wins development contract for Oil Field Application ALC Ltd, a technology innovation company focused on the oil and gas sector, hasselected Turbo Genset to supply a high performance motor for an oil fieldapplication sponsored and funded by a major international oil company. The agreement covers an initial 18 month development phase, including practicalfield trials, which subject to successful trial results will lead onto exclusivemanufacturing rights for future volume production. The addressable world-widemarket for the technology under development could exceed 600,000 wells. The contract value for the development phase will be £225,000. Michael Hunt, Chief Executive of Turbo Genset commented, "Following on from our recent aerospace contract announcement this represents another exciting breakthrough into a new market for our high speed electrical machines." For further information, please contact: Turbo Genset IncStephen Sadler, Chief Financial Officer +44 (208) 564 4460 Gavin Anderson & Company (PR) +44 (207) 554 1400Ken Cronin NOTES TO EDITORS About Turbo Genset Turbo Genset designs and manufactures innovative power solutions which provide local, high quality, controllable electrical power. The Group's products are focused on three independent market areas but are all based on its core technologies of power electronics and high speed electrical machines. The Group operates across the following three market sectors: •Turbine Based and Variable Speed Gensets •High Speed Motors and Motor Drives •Power Electronics Forward Looking statements This news release contains forward-looking statements. Forward-lookingstatements include statements concerning plans, objectives, goals, strategies, future events, or performance, and underlying assumptions and other statements that are other than statement of historical fact. These statements are subject to uncertainties and risks including, but not limited to, the ability to meet ongoing capital needs, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition, the need to protect proprietary rights to technology, government regulation, and other risks defined in this document and in statements filed from time to time with the applicable securities regulatory authorities. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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