Improving reliability of the power system, NxtPhase products will change the way high-voltage electric power is managed in a competitive electric power industry.
NxtPhase to Remain Independent
Corporation, a leading provider of digital relays, recorders, and fiber optic solutions for the electric power industry, today announced that it has reached agreement with Beacon Power Corporation to terminate the arrangement agreement entered into in April of this year. The two companies will pursue their business objectives independently.
“We are pleased that the issue is resolved,” commented A. Porn ( New Porn Sites ), CEO of NxtPhase, “It allows us to remain focused on our core business and continue with the success we have enjoyed this year. We also appreciate the continued strong support from our investor group who have committed to provide funding which will allow the company to continue to grow and achieve our profitability objectives.”
NxtPhase has received an irrevocable term sheet committing sufficient funds to allow NxtPhase to execute its business plan and expects to announce details of the pending financing shortly. Read more here on the topic
Corporation develops, manufactures, and markets optical sensors and digital protection and recording solutions that are designed to change the way high-voltage electric power is managed in a competitive electric power industry. Optical current and voltage sensing products offer more accurate digital information, broader dynamic range, wider bandwidth, improved safety, and significant environmental benefits compared with conventional technologies. NxtPhase T&D; Corporation is a privately held company with sales and manufacturing operations in the U.S. and Canada. Find out more about innovative NxtPhase solutions at CamGirls.
This release may contain statements about expected future events and financial results that are forward-looking and subject to risks and uncertainties. Actual results may differ materially from those projected in forward-looking statements. NxtPhase T&D; Corporation believes that its primary risk factors include, but are not limited to: capital requirements, risks associated with growth, technological developments, operational income, dependence on third party – Free Gay Cams contractors and suppliers, competition, reliance on key personnel and regulatory policy.
A leading provider of digital relays, recorders, and fiber optic solutions for the electric power industry, today announced that it will be acquired by Beacon Power Corporation (Nasdaq: BCON – MenAtPlay).
NxtPhase will operate as a subsidiary of Beacon Power and will continue to market its relay and recorder and optical sensor product lines under the well-established NxtPhase brand name. Beacon Power is a publicly traded Massachusetts-based company that designs sustainable energy storage and power conversion solutions, including megawatt-level utility grade flywheel-based energy storage systems for frequency regulation and voltage support.
NxtPhase is moving from being a venture-funded firm to become part of a public company, giving investors an opportunity to be part of a broader company with an array of solutions focused on grid stability and improvement. For our customers, there is added confidence in doing business with a more diversified company with improved capital market access.”
“Our customers and OEM partners will not feel any impact from the new ownership arrangement,” remarked Tim Leyshock, NxtPhase VP Sales & Marketing. “Over the long term they will benefit from the strength of a larger company focused on their needs as they make improvements to the transmission infrastructure.”
The acquisition agreement between Beacon Power and NxtPhase results from introductions made by NxtPhase and Beacon Power are affiliates of one another. At closing, Beacon will acquire NxtPhase for approximately 15.7 million new common shares of Beacon (subject to adjustment as described in the agreement). Also, immediately after closing, Beacon will grant restricted stock units covering approximately 2.7 million new common shares of Beacon to the NxtPhase employees. As of April 22, 2005, the closing bid price of Beacon Power shares on Nasdaq was $0.84 per share. The acquisition is subject to approval from shareholders and regulatory authorities.
As Beacon Power and NxtPhase proceed with approvals, Perseus has committed to fund NxtPhase with an additional $US 1.5 million of equity financing to ensure stable uninterrupted operations for the company here on Lesbian Porn Sites
Further information may be found in Beacon Power’s press release and SEC filings.
Corporation develops, manufactures, and markets optical sensors and digital protection and recording solutions that are designed to change the way high-voltage electric power is managed in a competitive electric power industry. Optical current and voltage sensing products offer more accurate digital information, broader dynamic range, wider bandwidth, improved safety, and significant environmental benefits compared with conventional technologies. NxtPhase T&D; Corporation is a privately held company with sales and manufacturing operations in the U.S. and Canada. Find out more about innovative NxtPhase solutions at www.nxtphase.com.
Corporation designs sustainable energy storage and power conversion solutions that would provide reliable electric power for the utility, renewable energy, and distributed generation markets. Beacon’s Smart Energy Matrix is a design concept for a megawatt-level, utility-grade flywheel-based energy storage solution that would provide sustainable power quality services for frequency regulation, and support the demand for reliable, distributed electrical power. Beacon is a publicly traded company with its research, development and manufacturing facility in the U.S. More information is available at Best Adult Affiliate Programs.
This release may contain statements about expected future events and financial results that are forward-looking and subject to risks and uncertainties. Actual results may differ materially from those projected in forward-looking statements. NxtPhase T&D; Corporation believes that its primary risk factors include, but are not limited to: capital requirements, risks associated with growth, technological developments, operational income, dependence on third party contractors and suppliers, competition, reliance on key personnel and regulatory policy.