Nuvolt Corporation Inc.

Nuvolt Corporation Inc.

July 04, 2011 17:11 ET

Nuvolt Corporation Inc. Announces the Creation of a Technological Showcase for the Maritime Market

LÉVIS, QUÉBEC, CANADA--(Marketwire - July 4, 2011) - Nuvolt Corporation Inc. ("Nuvolt") (TSX VENTURE:NCO) is pleased to announce the establishment of a technological showcase for the maritime market. In collaboration with ''Navware", its exclusive distributor for this market, an agreement was entered into with an important ship-owner who agreed to the use of one of its vessels to adapt the SmartScan technology to the requirements of commercial vessels. This market has a high rate of growth.

Mr. Paul Barbeau Eng., President of Navware stated: « This agreement allows us to adapt the electrical network and equipment monitoring and management system for use on commercial vessels. It will also enable us to obtain the necessary regulatory approvals ».

Mr. Jacques Dion, President of Nuvolt, declared that he was especially pleased with this Navware agreement given that it is part of the diversification process created in the company's business plan. Furthermore, it could have an impact on the company's sales, as early as the second quarter of 2011-2012. This technology should be commercialized under the name « ShipScan » as early as this fall.

About Navware Canada Inc.

NAVWARE Canada Inc. (NAVWARE) mission is to provide to the offshore and marine community the best of breed innovative software and top-quality consultation services for the construction and maintenance of ships and floating structures. Navware distributes the ShipScan Electrical Network Monitoring System.

About Nuvolt Corporation Inc.

Nuvolt has developed a specialized expertise in the management of electrical failures, power quality, the detection and neutralization of leakage current, as well as electrical network monitoring systems.

Certain statements contained in this press release constitute forward-looking information. Such statements are based on the current expectations of management. You are cautioned that such statements can be subject to a multitude of risks and uncertainties that could cause actual results, future circumstances or events to differ materially from those projected in the forward-looking information. The reader should not place undue reliance on the forward-looking information included in this press release given that (i) actual results could differ materially from a conclusion, forecast or projection in the forward-looking information, and (ii) certain material factors or assumptions were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking information could prove to be inaccurate. These statements speak only as of the date they are made, and Nuvolt assumes no obligation to revise such statements as a result of any event, circumstance or otherwise, except in accordance with law.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Nuvolt Corporation Inc.
    Jacques Dion
    Chief Executive Officer
    418-833-4055 (FAX)