Tel: 1.713.621.4310 | Stock Symbol PWTC

 

 

Acquisition News: Letter of Intent Signed With
Battery Driven Back Up Power Supply
Systems Company -- February 6, 2006

 

HOUSTON, TEXAS – (VINTAGE NEWSWIRE) --
Power Technology, Inc. (PWTC) announced today that it has signed a letter of intent to acquire the assets of Sentry Power LLC for total consideration of $1,252,500, paid $960,000 in the common stock of Power Technology and $292,500 in cash to be contributed as capital to the new subsidiary.

Sentry Power sells battery driven back up uninterrupted power supply systems for commercial and residential usage. The letter of intent is non binding and subject to the completion of customary due diligence and an audit of the Sentry Power's previous operations.

Bernard J. Walter, CEO of Power Technology, stated “Sentry is already selling battery powered backup uninterrupted power supply systems into the market, and it can definitely benefit from the battery technology developed by our company. Sentry is a good example of a truly complementary transaction matching technology with an existing customer base and distribution system. We believe the transaction will be accretive in 2006, and look forward to incorporating our battery technology into Sentry Power products as soon as possible”.

Michael Julian, President of Sentry Power added “We believe this transaction is a great marriage of our product and customer base with Power Technology's ability to improve the performance of the batteries necessary to provide reliable, long lived back up power supply systems. We look forward to consolidating our operations and growing our companies together.”

About Power Technology, Inc.

Power Technology, Inc. is a Research and Development Company engaged in development activities regarding alternative battery technology using materials with up to 50% less weight and significantly less lead content than conventional batteries. The Company is in the early stages of commercializing its technology, and has designed equipment and systems to manufacture its patent pending batteries.

For More Information Contact Power Technology, Inc. (713) 621 - 4310
Or Click Here To e-mail info@pwtcbattery.com