Brooklyn, NY, December 26, 2009 --(PR.com
)-- PowerSafe Technology Corporation (PSFT) subsidiary Amplification Technologies Inc. (www.amplificationtechnologies.com) (ATI), announced today that it has been awarded two new Small Business Innovation Research (SBIR) Phase I grants from NASA. The grant provides approximately $100,000 in research and development funds for each of the two Phase I studies. If the results are promising, the Company will be eligible receive an additional $600,000 in Phase II funding for each proposal.
The two proposals are:
Proposal S1.01-9201 Very High Gain and Low Noise Near Infrared Single Photon Counting Detectors and Arrays. The study will help NASA on the development of Lidar systems for wind direction measurement, surface topography as well as atmospheric sensing, and optical communication technologies for such applications as deep space to ground communication links, inter-satellite links, Earth orbiting to ground, networking formation flying spacecraft, and others.
Proposal O1.06-8219 High Performance Negative Feedback Near Infrared Single Photon Counting Detectors & Arrays. The study will help NASA with Optical communication technologies such as long range space to ground communication links, intersatellite links, Earth orbiting to ground, networking formation flying spacecraft, and several others. LIDAR remote sensing at 1060 and 1550 nm wavelengths.
“This SBIR award demonstrates the unique technology that ATI has developed over the last few years” said Jack Mayer Chairman of Powersafe. “We are proud of our Technology team, and look to continue to develop our solid state devices for all applications that require the next generation of low level light detection.”
The Proposal was authored by Dr. Krishna Linga, CTO of ATI, who commented “This award will help accelerate our development of final products for many different customers. We expect to see a lot of new interest in our devices over the coming year.”
About PowerSafe Technology Corp. (PSFT)
Based in New York, PowerSafe Technology Inc. (www.psftinc.com), thru its wholly owned subsidiary ATI, (www.amplificationtechnologies.com) seeks to transform the field of low-level signal detection. The company’s patented platform semiconductor technology has the potential to offer unparalleled and far-reaching benefits to industries such as medical diagnostics, drug development, scientific instrumentation and homeland security. The technology has been successfully used to develop extremely sensitive detectors of low levels of light and the company believes its detectors will be used in many existing applications as well as open up new markets. ATI’s technology is patented to encompass detection of signals other than light, and could in principle be used to create highly sensitive biological, radiological, electrical, and chemical sensors.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of PowerSafe and Amplification. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties inherit herein and set forth in PowerSafe’s SEC filings and such other matters as are contained therein. These risks and uncertainties could cause actual results to differ materially from those indicated in the forward-looking statements.
Dr. Krishna Linga
Amplification Technologies Inc.
Jack Mayer, Pres.
PowerSafe Technology Corp.