Power Technology Acquires Flipside USA & Snakeboarder.comLast update: 8/16/2011 11:50:00
Power Technology, Inc. (PWTC), announced today that the Company has acquired Flipside USA & Snakebaorder.com. This news comes just weeks after Kara Guire purchased a controlling interest in the Company. "As the new Director and CEO, I would like to make it perfectly clear that new company management will have no ties to former management or directors. Battery technology is an exciting space where I have already developed great relationships and I see a very synergistic relationship with Flipside, Snakeboarding, and extreme sports alike. Our primary business will continue to include research and development of improved technology for batteries to be used in electric vehicles, hybrid powered vehicles, solar power systems, electric motorcycles, electric bicycles, electric wheelchairs, electric power management, uninterruptible power supply systems, automobiles, aircraft, marine, submarine craft, and every day practical applications." stated Kara Guire. Flipside USA & Snakeboarder.com are two assets which will give the company a steady revenue stream while providing an outlet for product testing & market research on the next wave of extreme sports applications. The Company's mission is twofold. First, to develop batteries that are smaller and lighter than conventional batteries which produce the same electrical capacity while having a higher specific energy density and efficiency. Second, to apply this technology to new and exciting applications while focusing on niche markets where competition will be minimal. Quicker recharge rates, cost effectiveness, and environmentally friendliness will be cornerstones to development. The importance of electric vehicles and hybrid vehicles in the United States and abroad has increased tremendously in the past decade. Primarily due to concerns regarding air pollution, global climactic changes, ozone layer depletion, noise abatement, increasing prices of gasoline, and dependence on imported oil, more and more people are seeking cleaner more affordable alternatives. Kara Guire, CEO stated: "We will continue development on these technologies through a new corporate structure which will allow us to capitalize on strategic partnerships which we have spent years building. We are very excited for the year to come as we will be further developing this technology while continuing to build and grow the Snakeboarding community worldwide with new and exciting products that will be sure to rock the industry for years to come."
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