15th May 2008 07:00
15 May 2008
TURBO POWER SYSTEMS ANNOUNCES HIGH SPEED GENERATOR CONTRACT
Turbo Power Systems Inc ("TPS"), the innovative electrical machines and electronic systems provider, is pleased to announce a new contract with an International Engineering Corporation for the supply of a 1MW high-speed generator system based on the existing TPS design.
The initial order phase covers preliminary engineering activities and will be superseded by a final contract with an anticipated value of in excess of US$1.5M. Follow on systems beyond the initial development system contract are expected in due course.
Commenting on the initial contract, Michael Hunt, Chief Executive Officer, said:
"This contract is another good example of the way in which TPS through its technology has been able to attract orders from blue chip customers"
For further information, please contact:
Turbo Power Systems Tel: +44 (0)20 8564 4460
Michael Hunt, Chief Executive Officer
Richard Bayliss, Finance Director
Company Website: www.turbopowersystems.com
Gavin Anderson (PR) Tel: +44 (0)20 7554 1400
Ken Cronin
Michael Turner
KBC Peel Hunt Tel: +44 (0)20 7418 8900
Oliver Scott
Nicholas Marren
NOTES TO EDITORS
About Turbo Power Systems
Turbo Power Systems Inc (TSX:TPS.TU AIM:TPS.L). is a leading UK based designer and manufacturer of innovative power solutions. The Group's products are all based on its core technologies of power electronics and high speed motors and generators and are sold into a number of market sectors including aerospace, rail, and various industrial sectors. The Company's products provide improved efficiency and reduced energy consumption compared to existing technologies.
Turbo Power System's existing customers include bluechip companies such as Hamilton Sundstrand, Bombardier, The National Rail Equipment Company, Eaton Aerospace and Lotus.
This news release contains forward-looking statements. Forward-looking statements 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.
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