CHICAGO, Sept. 6, 2011 /PRNewswire/ -- Power Technology,
Inc. (Pinksheets: PWTC), which recently acquired Flipside
USA & Snakeboarder.com,
announces today that the Company has started development of a new
product which the company says is in "High Demand among the
Snakeboarding community."
While exact details will not yet be released, the company wants
to make it clear that it recognizes all of the areas within the
Snakeboarding community which are currently underserved and it
plans to do something about it.
CEO Kara Guire stated: "We are
currently in an excellent position to introduce new and exciting
products into the Snakeboarding community. We work very closely
with a wide range of riders from novices to professionals and we
need to ensure that we cater to them and everyone in between. Our
team which is currently working on product development has
extensive experience in riding, and knows what works and what does
not. From refinement to reinforcing weak points, our team will be
able to exceed expectations when it comes to quality. Our current
product under development should be done testing and available for
sale by the holiday season."
About Snakeboarding
Snakeboarding, a sport started in 1989 with the invention of the
Snakeboard by college students James
Fisher, Oliver Macleod-Smith,
and Simon King, who were looking to
simulate and combine the sensations of surfing, snowboarding,
skiing and skateboarding, has a colorful history and has attracted
riders from all across the world. The key advantage of the
Snakeboard is that riders can generate a forward motion, even
uphill, from a standstill position without their feet ever touching
the ground. The Snakeboard's steerability makes it easy to maneuver
and fun to ride.
Within 5 years from being invented, the sport gained a
considerable amount of popularity and the First Annual World
Championship was held in Guernsey, an island off the coast of
England. The sport continued to
spread globally under the name "Snakeboard International" from 1994
through 1998 when the founders sold their patent.
After 1998, the sport continued to increase ridership and build
their fan base worldwide while gaining events coverage on top
networks including Fox Sports Net, ESPN, and MTV Sports.
In 2001, in an effort to capitalize on the growth of the sport,
Kara formed Flipside USA and began
buying boards in bulk and whatever other boards she could get her
hands on to keep up with the growing demand, many times selling out
of inventory on pre-orders. Since 1998 the sport has retained its
hard core rider base and hosted Annual World Championships in
various cities all around the world. However it has yet to have a
company step in with a coordinated marketing effort and a thorough
enough understanding of the logistics necessary to significantly
ramp up production and grow their audience. There are only
currently three manufacturers of boards, and the industry is ripe
for an aggressive campaign.
For more information visit www.flipsideusa.com and
www.snakeboarder.com.
About the Battery Industry
Batteries represent about $36
billion in revenues today and are expected to grow to more
than $50 billion over the next five
or so years, with rechargeable batteries leading the way. The
growth will take place worldwide.
The hybrid vehicle battery, which accounts for 1.7% of the
world's rechargeable market, is expected to grow to 4.2% of the
market by 2013. This surge is based on conservative assumptions
about hybrid car growth.
The ultracapacitor and fuel cell battery growth forecast may
also be low, given potential technology/performance breakthroughs
in the next few years. Dependent on the performance of their
materials, they store and release more energy faster than
conventional batteries, and they have an almost limitless cycle
life.
Growth in renewable energy, like solar and wind power, will
drive additional demand for storage capacity, especially with
increased smart grid electricity deployment all over the world.
Very few storage technologies have actually reached the scalable
commercial deployment phase. Several companies produce lithium-ion
batteries, but utilities have only begun to experiment with them
for balancing loads or storing power. General Electric recently
jumped into the market for sodium batteries, computer-sized
batteries that can store large amounts of power at wind farms.
Safe Harbor: This release may contain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Statements contained in this release that are not
historical facts may be deemed to be forward-looking statements.
Investors are cautioned that forward-looking statements are
inherently uncertain. Actual performance and results may differ
materially from that projected or suggested herein due to certain
risks and uncertainties including, without limitation, ability to
obtain financing and regulatory and shareholder approvals for
anticipated actions.
SOURCE: Power Technology, Inc.
CONTACT: Power Technology, Inc. Kara
Guire, (847) 796-0534 kara@flipsideinternationalinc.com
SOURCE Power Technology, Inc.