Turbo Power Systems Inc.
TSX : TPS
AIM : TPS

Turbo Power Systems Inc.

November 15, 2006 02:01 ET

Turbo Power Systems Receives Further Rail Orders

CALGARY, ALBERTA--(CCNMatthews - Nov. 15, 2006) - Turbo Power Systems Inc. (TSX:TPS) (LSE:TPS):

Bombardier Transport - Germany

Turbo Power Systems ('The Company' or 'TPS') today announces that it has been selected by Bombardier Berlin to supply a range of battery chargers for their passenger train programmes in Europe and Internationally. The agreement is for an initial period of three years commencing in November 2006 and combined annual quantities are expected to generate revenue of up to EUR 1 million per annum over that period.

TPS will produce four different products using a common power module which is employed in single and multiple configurations. The use of a common power module allows for greater flexibility in design and supply to Bombardier, as well as creating manufacturing efficiencies for TPS.

The battery chargers can be connected to a range of supplies, from 650V, 750V or 1500V D.C. or 3 phase 400V A.C. depending on how the train is powered. They will be used to charge batteries powering safety and emergency auxiliary equipment such as lighting, evacuation systems and critical control systems.

National Railway Equipment Company

Further to the initial contract that the Company announced in February 2006, NREC has placed a US$700,000 follow on order for traction electronics for delivery in early 2007.

The low emissions locomotive design, which also reduces fuel consumption by in excess of 20%, is generating considerable interest in North America and in international markets including Australia, Eastern Europe and Turkey.

Commenting on these orders, Michael Hunt Chief Executive Officer said:

"We are pleased to announce these orders which continue the growth of our rail electronics business. The long term supply agreement with Bombardier represents a further expansion into the European market following on from our recently announced contracts with Trans Elektro in the Netherlands.

NOTES TO EDITORS

About Turbo Power Systems

Turbo Power Systems develops innovative products for power generation and power conditioning. The Group was established in 1993 as a spinoff from Imperial College, London and was floated on the London stock exchange in July 2000 and soon after obtained a secondary listing in Toronto. In July 2001, the Group acquired Intelligent Power Systems Limited (I-Power) specialising in power electronics.

Bombardier Transportation

Bombardier Transportation is the global leader in the rail equipment manufacturing and servicing industry. Its wide range of products includes passenger rail cars and complete rail transportation systems. It also manufactures locomotives, freight cars, propulsion & controls and provides signalling equipment and systems.

About National Railway Equipment Co.

National Railway Equipment Co., headquartered in Mt. Vernon, Illinois, is a privatelyowned network of vertically integrated manufacturing sites providing quality products and services to the global rail transportation industry. Founded by Lawrence Beal in 1984, National Railway Equipment Co. has grown to become the world's largest supplier of remanufactured locomotives; new and rebuilt mechanical materials; electrical systems and components; locomotive field service; and technical support. With nine facilities, NREC encompasses over 275 acres and more than 1,330,000 square feet under roof to service its customers with the best equipped shops in the industry.

Forward Looking statements

This news release contains forwardlooking statements. Forwardlooking 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
    +44 (0)20 8564 4460
    or
    Turbo Power Systems Inc.
    Stephen Sadler
    Chief Financial Officer
    +44 (0)20 8564 4460
    Website: www.turbopowersystems.com
    or
    Gavin Anderson & Company
    Ken Cronin
    +44 (0)20 7554 1400
    or
    Gavin Anderson & Company
    Michael Turner
    +44 (0)20 7554 1400
    or
    KBC Peel Hunt
    Oliver Scott
    +44 (0)20 7418 8905