HOUSTON, Dec. 19, 2005 (PRIMEZONE) -- Power Technology Inc. (OTCBB:PWTC) announced today that Toyota Tsusho Corporation has agreed to evaluate its patent pending battery technology. Bernard J. Walter, CEO of Power Technology, stated, "We were invited to Tokyo to discuss Toyota Tsusho's battery needs and our battery technology. Toyota Tsusho has requested that we provide it with a prototype battery and technical data. We intend to do so once we finalize the terms of a mutual non-disclosure agreement to protect each party's proprietary and confidential information. Although we have no final agreement with Toyota Tsusho concerning its use of our battery technology, we believe that its willingness to evaluate how our technology can add value to its products is a good example of the opportunities our technology presents to the market. We look forward to other announcements in the near future."
Toyota Tsusho Corporation (http://www.toyotsu.co.jp/english/index.cfm) consists of 176 subsidiaries and affiliates, which together undertake a broad range of businesses, including trading, manufacturing, processing, retail, and services, at a global level. As a value integrator, it is involved in the manufacture and sale of automobiles and other vehicles, machinery and electronics, consumer products, and alternative energy sources, including wind power generation systems.
Power Technology, Inc. is a Research and Development Company engaged in development activities regarding alternative battery technology using materials with up to 50% less weight and significantly less lead content than conventional batteries. The Company is in the early stages of commercializing its technology, and has designed equipment and systems to manufacture its patent pending batteries.
Please visit our website at www.PWTCBATTERY.com for more information or call the company directly at 713-621-4310.
All forward-looking statements are, by necessity, only estimates of future results and actual results achieved by Power Technology, Inc. (PWTC) may differ materially from these statements due to a number of factors. PWTC assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions.