PowerSafe Announces Successful Completion of Two NASA Phase I SBIR Projects

NEW YORK, NY--(Marketwired - Sep 2, 2010) -  PowerSafe Technology Corporation (PINKSHEETS: PSFT) announced today that its wholly owned subsidiary, Amplification Technologies Inc. (ATI) (www.ampti.net), has successfully completed two Phase I SBIR projects awarded by NASA in January '10.

"As part of the Phase I program, Amplification Technologies Inc. (ATI) developed the enabling material and device design for the proposed next generation devices, using our patented internal discrete amplification technique," said Avery Kornbluth, COO of ATI. "In one project we demonstrated the likely feasibility of extending the operating range of our breakthrough technology to 1800nm, a wavelength important in eye-safe laser based detection. In the other project we showed how to improve operating characteristics important in increasing the sensitivity of space based optical communication networks."

"We believe these novel photodetector designs have vast potential advantages in the fields of remote sensing, environmental sensing, and optical communications," said Jack Mayer, President of PowerSafe. "They also could potentially be used in a wide range of civil applications."

Based on what we believe are the excellent results of Phase I, ATI has submitted applications for Phase II grant funding in the range of $600,000 for each project. Under these proposed projects, new photon-counting photodetectors and photodetector arrays are to be developed to advance the state of the art in remote sensing, atmospheric sensing applications and long-range space optical communications. Award of Phase II funding in addition to being subject to merit review, is believed to be subject to other factors including overall budgetary considerations.

About PowerSafe Technology Corp. (PSFT)
Based in New York, PowerSafe Technology Inc. (www.psftotc.com), through its wholly owned subsidiary ATI (www.ampti.net), seeks to transform the field of low-level signal detection. The company's patented platform semiconductor technology has the potential to offer unparalleled and far-reaching benefits to industries such as medical diagnostics, drug development, scientific instrumentation and homeland security. The technology has been successfully used to develop extremely sensitive detectors of low levels of light and the company believes its detectors will be used in many existing applications as well as open up new markets. ATI's technology is patented to encompass detection of signals other than light, and could in principle be used to create highly sensitive biological, radiological, electrical, and chemical sensors.

Forward-Looking Statements
This release contains 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 PowerSafe and Amplification. 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 those set forth in PowerSafe's SEC filings and such other matters as are contained therein. These risks and uncertainties could cause actual results to differ materially from those indicated in the forward-looking statements.