Science & Technology
Science and Technology
Science and Technology
Mon, August 17, 2009
Sun, August 16, 2009
Fri, August 14, 2009 OptiCon Systems, Inc. : OptiCon (OPCN) Spins-Off PowerCon Energy Systems Into Separate Company
ST. PETERSBURG, FL--(Marketwire - August 14, 2009) - OptiCon Systems, Inc. (
This transition from a business unit into a wholly owned subsidiary will be the first step in positioning PowerCon as a major solutions provider for the fortune 1000 power companies globally. Major global utilities have initiatives in place to use smart grid (intelligrid, FutureGrid, and the more modern intergrid and intragrid) technology that delivers electricity from suppliers to consumers. The use of digital technology to saves energy, reduces cost, increases reliability, and transparency. Such a modernized electricity network is being promoted by many governments as a way of addressing energy independence, global warming and emergency resilience issues. These new initiatives will help power producers move into the 21 century.
It is quite possible that the next big financial windfall, for companies such as PowerCon Energy Systems, will come from helping the multi-trillion dollar energy industry move into the digital world by providing them products to accelerate their transition. PowerCon will provide Power Network Management Software, Intelligrid Monitoring System, and Fault Detection Information System to the global Power industry.
Sam Talari, acting CEO of the Company, indicated as follows:
"In the next few weeks, we will work diligently to joint venture with major global utilities as funding partners to complete the development of our products and services for the power industry and to provide clear and profitable exit strategy for our investors either through a buyout or and IPO."
About OptiCon Systems
OptiCon Systems, Inc., provides Wireline, Wireless and fiber optics network management solutions offering proprietary state-of-the-art software, professional services and integrated systems. OptiCon Systems have been in use by companies seeking the best solution in managing their networks for the past 10 years. The company's software solutions automate all aspects of the physical and logical layer management, fault detection and delivery of information. The scalability of the software systems permits the Company to target large communications and telecom companies servicing millions of global customers to medium-sized companies managing a single facility. Besides OptiCon Network Manager (ONMS), the company will soon offer PowerCon Energy Systems (PES) that is designed to manage large power networks and facilities for power and alternative energy companies globally. The PES/ONMS isolates (power/fiber) cable cuts, breaks, and faults, and service degradation and other power and optical events to within plus or minus five feet of the event, and produces a global positioning system location for the outage to an approximate five foot section of cable.
For more information, please visit [ www.opticonsystemsinc.com ].
Forward-Looking Statements
This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets.
