HOUSTON, Feb. 23, 2006 (PRIMEZONE) -- Power Technology, Inc. (OTCBB:PWTC) announced today that it has delivered current collectors committed for testing in the recently-signed memorandum of understanding with Kung Long Batteries Industrial Co., Ltd. of Taiwan (Taiwan Stock Exchange -- Code 1537).
Bernard J. Walter, Chairman and CEO of Power Technology, commented, "We are pleased to announce the achievement of a major milestone for Power Technology. In December 2005, we agreed to manufacture current collectors for Kung Long Batteries of Taiwan to test and evaluate. Kung Long has now received the current collectors. We look forward to reporting the results of their testing of our core technology as the next step toward full commercial production."
Kung Long Batteries Industrial Co., Ltd. is a publicly traded expert manufacturer of lead acid batteries. It owns and operates two manufacturing facilities in Taiwan and one in Viet Nam. It manufactures more than 200 different types of batteries, including batteries for electric vehicles, uninterrupted power supply systems, alternative energy systems, solar energy systems, mobile energy, motorcycle and automotive uses. More information concerning Kung Long Batteries is available on its website at www.kunglong.com.
About Power Technology: Power Technology, Inc. is a Research and Development Company engaged in 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.