Skip to main content

Market Overview

OptiCon (OPCN) Spins-Off PowerCon Energy Systems Into Separate Company

Share:

ST. PETERSBURG, FL--(Marketwire - August 14, 2009) - OptiCon Systems, Inc. (OTCBB: OPCN) a
global provider of communications and telecommunications software for
Wireline, Wireless and fiber optics, announced today that the spin-off of
the Company's Energy division, PowerCon Energy Systems, is complete.
PowerCon is now a wholly owned subsidiary of OptiCon Systems.

This transition from a business unit into a wholly owned subsidiary will be
the first step in positioning PowerCon as a major solutions provider for
the fortune 1000 power companies globally. Major global utilities have
initiatives in place to use smart grid (intelligrid, FutureGrid, and the
more modern intergrid and intragrid) technology that delivers electricity
from suppliers to consumers. The use of digital technology to saves energy,
reduces cost, increases reliability, and transparency. Such a modernized
electricity network is being promoted by many governments as a way of
addressing energy independence, global warming and emergency resilience
issues. These new initiatives will help power producers move into the 21
century.

It is quite possible that the next big financial windfall, for companies
such as PowerCon Energy Systems, will come from helping the multi-trillion
dollar energy industry move into the digital world by providing them
products to accelerate their transition. PowerCon will provide Power
Network Management Software, Intelligrid Monitoring System, and Fault
Detection Information System to the global Power industry.

Sam Talari, acting CEO of the Company, indicated as follows:

"In the next few weeks, we will work diligently to joint venture with major
global utilities as funding partners to complete the development of our
products and services for the power industry and to provide clear and
profitable exit strategy for our investors either through a buyout or and
IPO."

About OptiCon Systems

OptiCon Systems, Inc., provides Wireline, Wireless and fiber optics network
management solutions offering proprietary state-of-the-art software,
professional services and integrated systems. OptiCon Systems have been in
use by companies seeking the best solution in managing their networks for
the past 10 years. The company's software solutions automate all aspects of
the physical and logical layer management, fault detection and delivery of
information. The scalability of the software systems permits the Company to
target large communications and telecom companies servicing millions of
global customers to medium-sized companies managing a single facility.
Besides OptiCon Network Manager (ONMS), the company will soon offer
PowerCon Energy Systems (PES) that is designed to manage large power
networks and facilities for power and alternative energy companies
globally. The PES/ONMS isolates (power/fiber) cable cuts, breaks, and
faults, and service degradation and other power and optical events to
within plus or minus five feet of the event, and produces a global
positioning system location for the outage to an approximate five foot
section of cable.

For more information, please visit www.opticonsystemsinc.com.

Forward-Looking Statements

This press release may contain forward-looking statements covered within
the meaning of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements relate to, among other things, plans and timing
for the introduction or enhancement of our services and products,
statements about future market conditions, supply and demand conditions,
and other expectations, intentions and plans contained in this press
release that are not historical fact and involve risks and uncertainties.
Our expectations regarding future revenues depend upon our ability to
develop and supply products and services that we may not produce today and
that meet defined specifications. When used in this press release, the
words "plan," "expect," "believe," and similar expressions generally
identify forward-looking statements. These statements reflect our current
expectations. They are subject to a number of risks and uncertainties,
including, but not limited to, changes in technology and changes in
pervasive markets.

 

Related Articles (FL)

View Comments and Join the Discussion!