DANBURY, Conn., June 26 /PRNewswire-FirstCall/ -- Solomon Technologies, Inc. (OTC Bulletin Board: SOLM) today announced that the first eight water taxis using Solomon's ST-74 marine propulsion systems have been commissioned for operations in the rivers and harbor areas of Singapore. Solomon worked with the marine constructor in Singapore to provide a powerful, environmentally friendly system, using its proprietary propulsion technology.
Peter W. DeVecchis, President of Solomon commented, "We are pleased that the installation and operation of these systems went so smoothly. We designed them for simplicity of installation in remote environments without the need for factory assistance on-site. Our customer required very little guidance in installing and making the systems operational in record time." He continued, "We intentionally designed these products with the goal of having them operate almost universally, within certain power requirements, in various hull configurations, similar to the 'Plug & Play' concept in the electronics industry. We believe our product performance will lead to additional orders to complete the project."
Information about Solomon Technologies, Inc.:
Solomon Technologies, Inc., through its Motive Power and Power Electronics divisions, develops, licenses, manufactures and sells precision electric power drive systems, including those utilizing its patented Electric Wheel(R) Electric Transaxle(TM) and hybrid and regenerative technologies as well as direct current power supplies and power supply systems requiring high levels of reliability and ruggedness for defense, aerospace, marine, commercial, automotive, hybrid electric and all electric vehicle applications.
FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements regarding Solomon Technologies, Inc. in this release that are not historical in nature, particularly those that utilize terminology such as "may," "will," "should," "likely," "expects," "anticipates," "estimates," "believes," or "plans," or comparable terminology, are forward-looking statements based on current expectations about future events, which management has derived from the information currently available to it. It is possible that the assumptions made by management for purposes of such statements may not materialize. Actual results may differ materially from those projected or implied in any forward-looking statements. Important factors known to management that could cause forward-looking statements to turn out to be incorrect are identified and discussed from time to time in the Company's filings with the Securities and Exchange Commission. The forward-looking statements contained in this release speak only as of the date hereof, and the Company undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Solomon Technologies, Inc.
Peter DeVecchis, 727-859-4447
www.solomontechnologies.com
or
Crescent Communications
David Long, 203-226-5527
SOURCE Solomon Technologies, Inc.
International News / Press Release source: PR Newswire
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