Turbo Power Systems Inc.
TSX : TPS
AIM : TPS

Turbo Power Systems Inc.

January 23, 2008 02:00 ET

Turbo Power Systems Announces Further Production Orders From National Rail Equipment Company

CALGARY, ALBERTA--(Marketwire - Jan. 23, 2008) - Turbo Power Systems Inc (TSX:TPS) (AIM:TPS) ("TPS"), the innovative electrical machines and electronic systems provider, is pleased to announce that its Power Electronics division has received further orders with a combined value of $1.1M from the National Rail Equipment Company (USA).

These follow-on orders for traction motor controllers and low voltage power supply units used in NREC's successful low emissions, fuel efficient locomotives, are scheduled for delivery during the first half of 2008.

In addition to these ongoing requirements, TPS has recently delivered a new prototype system, which is currently undergoing commissioning at NREC facilities in North America.

Commenting on the orders, Michael Hunt, Chief Executive Officer, said:

"NREC has become a very significant customer for TPS and we are pleased to be a continuing part of their product development programme as well as a key supplier to their existing and successful locomotive production."

About Turbo Power Systems

Turbo Power Systems Inc (TSX:TPS) (AIM:TPS). 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.

Forward looking statements

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.

Contact Information

  • Turbo Power Systems
    Michael Hunt
    Chief Executive Officer
    +44 (0)20 8564 4460
    or
    Turbo Power Systems
    Stephen Sadler
    Chief Financial Officer
    +44 (0)20 8564 4460
    Website: www.turbopowersystems.com
    or
    Gavin Anderson & Company (PR)
    Ken Cronin
    +44 (0)20 7554 1400
    or
    Gavin Anderson & Company (PR)
    Michael Turner
    +44 (0)20 7554 1400
    or
    KBC Peel Hunt
    Oliver Scott
    +44 (0)20 7418 8900