Ozop Energy Solutions: PCTI Bids to Upgrade 1MW Navy Power Supply
Were maintaining our unique position as the go-to source for ultra high-wattage power supply units as we move forward into the rapidly growing energy storage market, said Catherine Chis, President and CEO of PCTI.
U.S. Navy sought company’s expertise to improve a major asset that supports the nation's military readiness.
WARWICK, NY., July 06, 2020 (GLOBE NEWSWIRE) -- Ozop Energy Solutions. (OZSC), (“Ozop” or the “Company”), has announced that its wholly owned subsidiary, Power Conversion Technologies, Inc. (PCTI), is the sole bidder on a project to upgrade a 1 MW power supply that will be used in a classified marine propulsion application for the U.S. Navy at one of the country’s largest naval bases. Included in the bid is a possibility of the purchase of a second unit.
“We’re maintaining our unique position as the go-to source for ultra high-wattage power supply units as we move forward into the rapidly growing energy storage market,” said Catherine Chis, President and CEO of PCTI. “Our customers turn to PCTI for our leadership, technology, robust quality and long history of experience in marine propulsion applications. We deliver success where others fail.”
The power supply that the Navy asked PCTI to upgrade was originally purchased in 2015 for the Pacific Command, and is being improved as the Navy’s requirements for the classified marine propulsion application have been refined.
The 7-ton, 1 MegaWatt power supply is very similar to units that would be used in the energy storage market that PCTI has identified as a strategic growth sector. Chis noted that an energy storage project would require multiple 1 MegaWatt units.
PCTI designs, develops and manufactures standard and custom power electronic solutions. The company has served the growing demand for power electronics in the highest power ranges since 1991. Customers include the U.S. Military, and many of the world’s largest industrial manufacturers. All of its products are manufactured in the United States, and its facilities have remained open throughout the COVID-19 pandemic because of its status as a critical infrastructure business.
For more information on PCTI please follow on the link, www.pcti.com.
Please be aware that our social media accounts can be used from time to time for additional material events.
https://twitter.com/power_conv_tech
https://www.facebook.com/PowerConversionTech
About Ozop Energy Solutions.
Ozop Energy Solutions (http://ozopenergy.com/) invents, designs, develops, manufactures, and distributes ultra-high power chargers, inverters, and power supplies for a wide variety of applications in the defense, heavy industrial, aircraft ground support, maritime and other sectors. Our strategy focuses on capturing a significant share of the rapidly growing renewable energy market as a provider of assets and infrastructure needed to store energy.
About Power Conversion Technologies, Inc.
Power Conversion Technologies, Inc. (www.pcti.com) invents, designs, develops, manufactures and distributes standard and custom power electronic solutions. Founded in 1991 and located in East Butler, Pennsylvania, the Company’s mission is to be the global leader for high power electronics with a standard of continued innovation.
Safe Harbor Statement
“This press release contains or may contain, among other things, certain forward-looking statements. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the company’s plans, objectives, projections, expectations and intentions and other statements identified by words such as “projects,” “may,” “will,” “could,” “would,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “potential” or similar expressions. These statements are based upon the current beliefs and expectations of the company’s management and are subject to significant risks and uncertainties, including those detailed in the company’s filings with the Securities and Exchange Commission. Actual results may differ significantly from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the company’s control). The company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.”
###
Investor Relations Contact
The Waypoint Refinery, LLC
845-397-2956
www.thewaypointrefinery.com
Media Contact
Matt McLoughlin
Gregory FCA
610.228.2112
[email protected]
