SOURCE: Gyrotron Technology Inc.

Gyrotron Technology Inc.

March 17, 2014 16:54 ET

Gyrotron Technology Updates Installation Information; Generating Revenue Through Production Royalty

BENSALEM, PA--(Marketwired - Mar 17, 2014) - Gyrotron Technology Inc. (PINKSHEETS: GYTI), a developer of innovative processing technology solutions, has been informed by its customer that its cryogenic-free gyrotron installation is now being used in regular production and has begun generating a royalty stream for GYTI. Based on discussions with the customer, GYTI believes that over time the customer will order four or more additional gyrotron installations related to the current project. The customer also indicated its intention to commence at least one additional project with GYTI involving a different application in 2014.

"We are very pleased with the excellent experience the customer has had with this installation and its performance," said Dr. Vlad Sklyar, president of GYTI. "The customer has invested significant time, money and effort into this project and we look forward to a long and very fruitful relationship."

About Gyrotron Technology - (PINKSHEETS: GYTI) - GYTI develops and markets unique processing technology solutions for a broad range of industries, including glass, plastics, semiconductors, and food. Most of these utilize the gyrotron, a very powerful source of high-frequency microwave energy. These solutions open new horizons, substantially enhancing productivity and cutting costs by, among other things, applying heat in a dramatically more efficient and effective manner than is possible with legacy technologies. Please visit our website http://www.gyrotrontech.com/ for additional information.

Forward-Looking Statements
This release and the materials referred to herein contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, as they are based on current expectations and assumptions concerning future events or future performance of GYTI. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties inherent herein and in publically available information on GYTI. These risks and uncertainties could cause actual results to differ materially from those indicated in the forward-looking statements.

Contact Information

  • Technical Contact:
    Dr. Vlad Sklyar
    President
    215-244-4740
    Email Contact

    Investor Contact:
    Jack N. Mayer
    Director
    215-244-4740
    Email Contact