SOURCE: Powersafe Technology Corporation

PowerSafe Technology Corporation

October 21, 2010 13:47 ET

PowerSafe Technology Devices to Be Used in a Production Application

NEW YORK, NY--(Marketwired - Oct 21, 2010) -  PowerSafe Technology Corporation (PINKSHEETS: PSFT) announced today that its wholly owned subsidiary Amplification Technologies Inc. (ATI) (www.ampti.net) has sold its devices to a customer for production implementation in an optical sorting application. The implementation will allow this manufacturer of automated sorting equipment to provide more effective sorting capabilities with their new machine. 

"We are excited that this customer has recognized the unique capabilities our devices can provide for their application," said Avery Kornbluth, COO of ATI. "We believe that our breakthrough Near Infrared detector will be useful to other manufacturers of optical sorting equipment as well."

"Optical sorting represents a new market for ATI's devices," said Jack Mayer, President of PowerSafe. "We believe that the characteristics that led this manufacturer to choose our technology will open up many other new markets for us as well." 

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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