Turbo Power Systems Inc.
TSX : TPS
AIM : TPS

Turbo Power Systems Inc.

May 15, 2008 06:05 ET

Turbo Power Systems Announces High Speed Generator Contract

CALGARY, ALBERTA--(Marketwire - May 15, 2008) - Turbo Power Systems Inc. ("TPS") (TSX:TPS)(AIM:TPS), the innovative electrical machines and electronic systems provider, is pleased to announce a new contract with an International Engineering Corporation for the supply of a 1MW high-speed generator system based on the existing TPS design.

The initial order phase covers preliminary engineering activities and will be superseded by a final contract with an anticipated value of in excess of US$1.5M. Follow on systems beyond the initial development system contract are expected in due course.

Commenting on the initial contract, Michael Hunt, Chief Executive Officer, said:

"This contract is another good example of the way in which TPS through its technology has been able to attract orders from blue chip customers."

NOTES TO EDITORS

About Turbo Power Systems

Turbo Power Systems Inc. (TSX:TPS)(AIM:TPS) is a leading UK based designer and manufacturer of innovative power solutions. The Group's products are all based on its core technologies of power electronics and high speed motors and generators and are sold into a number of market sectors including aerospace, rail, and various industrial sectors. The Company's products provide improved efficiency and reduced energy consumption compared to existing technologies.

Turbo Power System's existing customers include bluechip companies such as Hamilton Sundstrand, Bombardier, The National Rail Equipment Company, Eaton Aerospace and Lotus.

This news release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events, or performance, and underlying assumptions and other statements that are other than statement of historical fact. These statements are subject to uncertainties and risks including, but not limited to, the ability to meet ongoing capital needs, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition, the need to protect proprietary rights to technology, government regulation, and other risks defined in this document and in statements filed from time to time with the applicable securities regulatory authorities.

Contact Information

  • Turbo Power Systems Inc.
    Michael Hunt
    Chief Executive Officer
    +44 (0)20 8564 4460
    or
    Turbo Power Systems Inc.
    Richard Bayliss
    Finance Director
    +44 (0)20 8564 4460
    Website: www.turbopowersystems.com
    or
    Gavin Anderson (PR)
    Ken Cronin
    +44 (0)20 7554 1400
    or
    Gavin Anderson (PR)
    Michael Turner
    +44 (0)20 7554 1400
    or
    KBC Peel Hunt
    Oliver Scott
    +44 (0)20 7418 8900
    or
    KBC Peel Hunt
    Nicholas Marren
    +44 (0)20 7418 8900