Turbo Power Systems Inc.

Turbo Power Systems Inc.

April 12, 2011 08:08 ET

Turbo Power Systems Inc ("Turbo Power Systems" or "TPS") Successful Application for Regional Grant Funding

LONDON, UNITED KINGDOM--(Marketwire - April 12, 2011) - TPS (TSX:TPS)(AIM:TPS) is delighted to have been informed that its application for Regional Grant Funding has been successful, having been selected from a significant number of applicants.

Jim Vickerman, CEO, commenting after the announcement of the grant in the UK Parliament earlier today, said:

"The basis of our application is to secure a contribution towards the ongoing acceleration of our R&D projects, which will in turn broaden the TPS technology portfolio. This funding should increase our engineering headcount and will hopefully further enhance the technological advantages of TPS' solutions".

There will now be a due diligence exercise, once concluded a more detailed disclosure will be made.

Contact Information

  • Turbo Power Systems Inc.
    Jim Vickerman
    +44 (0)20 8564 4460

    Marc Young or Henrik Persson
    +44 (0)20 7600 1658

    Kreab Gavin Anderson (Financial PR)
    Ken Cronin or Michael Turner
    +44 (0)20 7074 1800