SOURCE: Powersafe Technology Corporation

Powersafe Technology Corporation

October 19, 2010 09:41 ET

PowerSafe Technology Announces Its Selection by NASA for a Phase II Small Business Innovation Research Project

NEW YORK, NY--(Marketwired - Oct 19, 2010) -  PowerSafe Technology Corporation (PINKSHEETS: PSFT) announced today that its wholly owned subsidiary Amplification Technologies Inc. (ATI) (www.ampti.net) has been competitively selected by NASA for a Phase II Small Business Innovation Research (SBIR) project. This project has a value of approximately $600,000 for this phase and is titled "High Performance Negative Feedback Near Infrared Single Photon Counting Detectors & Arrays."

"We are extremely gratified that NASA continues to support our breakthrough near infra-red technology," said Jack Mayer, President of Powersafe. "We are proud of our highly talented team, and look forward to this project which will help us continue to improve and develop our unparalleled solid state devices for a broad range of applications."

"The project is focused on developing innovative photodetector solutions to free space optical communications," said Avery Kornbluth, COO of ATI. "The performance characteristics of the devices and arrays to be developed should be highly desirable in many other applications including scientific instrumentation, remote sensing, 3D imaging, secure communication and possibly night vision."

About PowerSafe Technology Corp. (PINKSHEETS: PSFT)
PowerSafe Technology Inc. (www.psftotc.com) 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, remote sensing, aerospace, 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. The technology is also 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 and Section 21E of the Securities Exchange Act of 1934. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of PowerSafe. 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 PowerSafe's SEC filings. Such risks and uncertainties could cause actual results to differ materially from those indicated in the forward-looking statements.

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