HOUSTON, Aug. 23, 2004 (PRIMEZONE) -- The Houston Business Journal (www.houston.bizjournals.com) has published a front page feature article on Power Technology, Inc. (OTCBB:PWTC) in its August 20, 2004 weekly edition. The company's CEO Bernard J. Walter is interviewed, and announces the signing of a letter of intent for $5,500,000 in new capital for Power Technology. Mr. Walter says "The Company has developed a battery that is substantially lighter than car batteries, takes a high charge, has a quicker recharge rate, provides greater range, will be more effective and is environmentally friendly. It's my job to get it from the idea prototype to production."
Houston based Corporate Strategies Merchant Bankers advised the Company on the $5,500,000 transaction. Tim Connolly, CEO of Corporate Strategies, stated "They are on the very leading edge of commercializing the next generation of battery power for years to come. Corporate Strategies is proud to be both an advisor to the company and an investor in its future success."
About Power Technology, Inc.
Power Technology, Inc. is a research and development company that is engaged in activities regarding alternative battery technology using patented, ultra light materials with up to 75% less weight and 90% less lead content than conventional batteries. The Company is in the early stages of commercializing its battery technology.
About Corporate Strategies, Inc.
Corporate Strategies, Inc. is a merchant bank in the traditional European sense of the word. As the term has evolved from the 18th Century to today, merchant banking describes an enterprise that not only finances a company's product or service, but also assists in developing a comprehensive business strategy. Corporate Strategies is comprised of seasoned executives with extensive experience in merchant banking, including business development and strategy, public and private company corporate finance, capital markets research, human resources, due diligence and transaction negotiation and execution. Corporate Strategies believes that solving the near-term cash requirements of small businesses is a critically needed service but is rarely the total solution. We provide consulting services, working capital financing, and in select cases, we make direct equity investments in our client companies.