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July 22, 2008. Solomon Technologies, Inc. (OTCBB:SOLM), announced today that its Power Electronics division has been awarded a production contract to supply multiple high voltage power drive systems for laser cutting applications. The contract, valued in excess of $1.1 million, comprises fifty systems incorporating the Cobalt 15 product technology.
The Cobalt 15 product family brings together the rugged reliability of military power electronics with the efficient designs used in industrial applications and incorporates conformable platforms that are easily tailored to specific customer needs.
Peter W. DeVecchis, Jr., President of Solomon said, "This new contract is another example of the success of our strategy in using proprietary technology platforms to address various power conversion markets. Much of our growth has been fueled by the ability to understand the nuances of the different market requirements and then effectively apply these technology platforms to produce industry leading results." He continued, "Our customers understand their process requirements; our power electronics group understands how to deliver power conversion solutions. Together, through strong communication, we leverage our core competencies to create a valuable partnership."
Mr. DeVecchis added, "This contract is another step in our leveraging of the broad power conversion capabilities in our Power Electronics division toward our corporate focus in the renewable and alternative energy markets where high power, rugged and highly reliable products are mandatory."
Information about Solomon Technologies, Inc.:
Solomon Technologies, Inc., through its Motive Power and Power Electronics divisions, develops, licenses, manufactures and sells precision electric power drive systems, including those utilizing its patented Electric Wheel(tm), Electric Transaxle(tm) and hybrid and regenerative technologies as well as direct current power supplies and power supply systems requiring high levels of reliability and ruggedness for defense, aerospace, marine, commercial, automotive, 'hybrid-electric' and 'all-electric' vehicle applications.
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 Solomon Technologies, 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.
Solomon Technologies Inc.
Peter DeVecchis, 727-859-4447
or
Crescent Communications
David Long, 203-226-5527
www.crescentir.com
Contact us for more info
June 30, 2008. Solomon Technologies, Inc. (OTCBB:SOLM), announced today that its Technipower subsidiary has been awarded a contract to develop and supply a power supply for the second phase of a new advanced vehicle launch ordinance system for the United States military. Solomon was awarded the first phase contract in February of 2007.
Peter DeVecchis, President of Solomon Technologies, said, "Past performance and innovative thinking are critical in the award of these very complex, phased projects. As we evolved the technology we developed during the project's first phase into the next stage, our deep technical capability and extensive experience in high power applications was critical to our customer's confidence in and commitment to Technipower as the project progressed. This next phase requires much higher energy density than the initial project and is typical of the growing number of kilowatt class applications that Technipower is uniquely qualified to fulfill."
Mr. DeVecchis added, "Leveraging our high power capability and military experience provides an expanded platform for Technipower's continued growth in these unique applications and adds depth and breadth to our corporate focus in the renewable and alternative energy markets where high power, rugged and highly reliable products are mandatory."
The new initiative will increase launch trajectory accuracy, replacing a decades old system on one of the military's primary light mobile bombardment platforms. Technipower's proposal not only provided a robust, innovative power system, but also was responsive to the contractor's need for a highly manufacturable, cost effective solution. This second system is scheduled for delivery in the fourth quarter of this year. If the military selects the new system for future field deployment the production contract could be substantial over a number of years.
Information about Solomon Technologies, Inc.:
Solomon Technologies, Inc., through its Motive Power and Power Electronics divisions, develops, licenses, manufactures and sells precision electric power drive systems, including those utilizing its patented Electric Wheel(tm), Electric Transaxle(tm) and hybrid and regenerative technologies as well as direct current power supplies and power supply systems requiring high levels of reliability and ruggedness for defense, aerospace, marine, commercial, automotive, 'hybrid-electric' and 'all-electric' vehicle applications.
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 Solomon Technologies, 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.
Solomon Technologies Inc.
Peter DeVecchis, 727-859-4447
or
Crescent Communications
David Long, 203-226-5527
www.crescentir.com
Contact us for more info
March 31, 2008. Solomon Technologies, Inc. (OTCBB:SOLM), today announced that its Technipower subsidiary has completed and delivered a project for ultra low noise military power supplies. The products were supplied to a tier one contractor and incorporated into a military marine surveillance system. This delivery culminates a successful, year-long development effort in which Solomon capitalized on its broad power systems capabilities and experience.
Anthony F. Intino, II, President of Technipower, said, "Technipower's long history of serving prime contractors has earned us a well deserved reputation for developing cost effective, state-of-the-art solutions, on time and on budget. This contract demonstrates our extensive, mission critical engineering and design capabilities resulting in our customer receiving a best-in-class product meeting the demanding requirements of a critical military application."
Information about Solomon Technologies, Inc.:
Solomon Technologies, Inc., through its Motive Power and Power Electronics divisions, develops, licenses, manufactures and sells precision electric power drive systems, including those utilizing its patented Electric Wheel(tm), Electric Transaxle(tm) and hybrid and regenerative technologies as well as direct current power supplies and power supply systems requiring high levels of reliability and ruggedness for defense, aerospace, marine, commercial, automotive, 'hybrid-electric' and 'all-electric' vehicle applications.
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 Solomon Technologies, 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.
Solomon Technologies Inc.
Peter DeVecchis, 727-859-4447
or
Crescent Communications
David Long, 203-226-5527
www.crescentir.com
Contact us for more info
February 7, 2008. Solomon Technologies, Inc. (OTCBB:SOLM), announced today that its Technipower subsidiary has been awarded a $150,000 contract to develop and supply a prototype power supply for a new advanced vehicle launch ordinance system for the United States military.
Jack Worthen, President of the Power Electronics Division, said "Technipower's long history of serving tier one military contractors has earned it a well deserved reputation for developing application specific solutions in a timely, cost effective manner. This contract demonstrates our broad engineering and design capabilities coupled with extensive experience in complex, demanding applications. The flexibility of our basic technology platform allows us to address these "kilowatt class" applications more easily than nearly every other high power system supplier."
Mr. Worthen added, "As Solomon continues to grow its base of power supply products and technology, most recently with the acquisition of Deltron, our overall capability in leading edge, next generation power system technology will be a major asset in penetrating new markets. Combining our intellectual property and product platforms with our focus on global, low cost manufacturing gives us a strong competitive advantage across all markets."
The new initiative will increase launch trajectory accuracy, replacing a decades old system on one of the military's primary light mobile bombardment platforms. Technipower's proposal not only provided a robust, innovative power system, but also was responsive to the contractor's need for a highly manufacturable, cost effective solution. The first prototype system is scheduled for delivery in the fourth quarter of this year. If the military selects the new system for future field deployment the production contract could be substantial over a number of years.
Information about Solomon Technologies, Inc.:
Solomon Technologies, Inc., through its Motive Power and Power Electronics divisions, develops, licenses, manufactures and sells precision electric power drive systems, including those utilizing its patented Electric Wheel(tm), Electric Transaxle(tm) and hybrid and regenerative technologies as well as direct current power supplies and power supply systems requiring high levels of reliability and ruggedness for defense, aerospace, marine, commercial, automotive, 'hybrid-electric' and 'all-electric' vehicle applications.
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 Solomon Technologies, 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.
Solomon Technologies Inc.
Jack Worthen, 203-748-7001
or
Crescent Communications
David Long, 203-226-5527
www.crescentir.com
Contact us for more info
January 22, 2008. Solomon Technologies, Inc. (OTCBB:SOLM), announced today that its Power Electronics Division was awarded a $450,000 contract to provide sophisticated, low noise power systems to a major commercial aviation supplier for use in in-flight entertainment systems. Solomon's Technipower subsidiary has a long history of supporting both commercial and military power applications consistent with the aviation market's requirements for highly reliable, ruggedized systems.
Jack Worthen, President of the Power Electronics Division said "Technipower has consistently created high performance power system solutions for customers in the aerospace and military markets. The technology and design capabilities inherent in our ongoing success in this market is a major factor in our increasing presence in the medical, telecom and alternative energy segments."
Mr. Worthen continued, "Our strategy in acquiring complimentary companies such as Deltron, provides a much broader sales platform and increased organic growth opportunities. Our planned acquisition of Unipower expands that benefit substantially and is another step in our achieving a dominate place in our target markets."
Information about Solomon Technologies, Inc.:
Solomon Technologies, Inc., through its Motive Power and Power Electronics divisions, develops, licenses, manufactures and sells precision electric power drive systems, including those utilizing its patented Electric Wheel(tm), Electric Transaxle(tm) and hybrid and regenerative technologies as well as direct current power supplies and power supply systems requiring high levels of reliability and ruggedness for defense, aerospace, marine, commercial, automotive, 'hybrid-electric' and 'all-electric' vehicle applications.
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 Solomon Technologies, 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.
Solomon Technologies Inc.
Jack Worthen, (203) 748-7001, ext. 207
or
Crescent Communications
David Long, 203-226-5527
www.crescentir.com
Contact us for more info
January 17, 2008. Solomon Technologies, Inc. (OTCBB:SOLM), announced today that its Power Electronics Division has been awarded a contract to develop a prototype high energy power supply system, valued at approximately $250,000, to be used in next generation medical diagnostic and treatment equipment. Solomon's proprietary Cobalt 15 product technology offered the important combination of high reliability, flexible design and cost competitiveness required by the customer. Once the prototype is approved for production, Solomon's Technipower subsidiary expects to provide regular deliveries to the customer's schedule.
Jack Worthen, President of the Power Electronics Division said, "This new development project is another example of how Solomon's core technology is adaptable to so many cutting edge applications, in this case supporting quality-of-life issues in the medical arena. We believe our technology will bring significant benefits to Solomon as we bring this new application into production and expand the resulting product into other parallel markets."
Mr. Worthen continued, "We believe that the uniqueness of the underlying Cobalt 15 technology and design coupled with the broad array of benefits it brings to our customers will provide Solomon with significantly expanded sales opportunities."
Information about Solomon Technologies, Inc.:
Solomon Technologies, Inc., through its Motive Power and Power Electronics divisions, develops, licenses, manufactures and sells precision electric power drive systems, including those utilizing its patented Electric Wheel(tm), Electric Transaxle(tm) and hybrid and regenerative technologies as well as direct current power supplies and power supply systems requiring high levels of reliability and ruggedness for defense, aerospace, marine, commercial, automotive, 'hybrid-electric' and 'all-electric' vehicle applications.
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 Solomon Technologies, 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.
Solomon Technologies Inc.
Jack Worthen, (203) 748-7001, ext. 207
or
Crescent Communications
David Long, 203-226-5527
www.crescentir.com
Contact us for more info
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