SOURCE: PowerSafe Technology Corp.

PowerSafe Technology Corp.

March 15, 2010 10:42 ET

Powersafe's Amplification Technologies Announces Distribution Agreement for Israel

NEW YORK, NY--(Marketwired - Mar 15, 2010) -  PowerSafe Technology Corporation (PINKSHEETS: PSFT) subsidiary Amplification Technologies Inc. (www.ampti.net) (ATI) and El-Gev Electronics Ltd. (www.elgev.co.il), today announced the signing of a distribution agreement for Israel. El-Gev Electronics Ltd. will market and distribute the full line of ATI's innovative Discrete Amplification (DA) devices for low-level light detection.

"We are excited about expanding our product distribution network with El-Gev Electronics Ltd," said Avery Kornbluth, COO of ATI. "Israel is a major hub of technology innovation in the markets we seek to serve and we are looking forward to expanding in this region."

"We look forward to adding ATI's patented Discrete Amplification technology to our product set," said Yoel Yogev, President and CEO of El-Gev Electronics Ltd. "Our customers will now be able to start utilizing these next generation photodetection devices, for their technology products."

About PowerSafe Technology Corp. (PSFT)
Based in New York, PowerSafe Technology Inc. (www.psftotc.com), thru 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.

About El-Gev
El-Gev Electronics Ltd. is dedicated to the sale of professional electronic components, sub-assemblies and systems to the regional industrial, military and aerospace markets.

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 inherit herein and 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.

Contact Information

  • Contact
    Avery Kornbluth, COO
    Amplification Technologies Inc.
    (718) 951-8021
    Email Contact

    PR Contact
    Jack Mayer, Pres.
    PowerSafe Technology Corp.
    (718) 951-8021
    Email Contact