FOR IMMEDIATE RELEASE
Empower Defense Systems Update
July 23, 2013 – Richmond, British Columbia, Canada – After a short time operating on the East Coast and in consultation with its customers, Empower Defense Systems Inc. (“EDS”) a wholly-owned subsidiary created solely by Empower Technologies Corporation (TSX.V: EPT) (“Empower”) in November 2012 announces it is proceeding to establish its engineering and production facility on the West Coast. The business and financial incentives to locate on the East Coast have been diminishing steadily over the years. Today those incentives are almost at par everywhere in Canada. As a result, the Empower management has decided to bring the EDS operation back from the East Coast to be close to home. The supplier network is very strong in BC and the professional and skilled labour are abundant here on the West Coast versus where EDS was located. EDS will gain operational efficiency and cost competitiveness with this move.
EDS is also capitalizing on the Canadian government’s new ‘buy Canada’ military budget as quoted in the Globe and Mail news article by Steven Chase on September 24, 2012. It said “The Harper government is embarking on an ambitious effort to develop a Canada-first military purchasing strategy – one that aims to funnel as many procurement dollars as possible to domestic firms with the potential to be leaders in their field.” EDS is focusing its effort not only to win contract works from the major defense contractors but also aiming to be the leader in the military imaging equipment field to supply state of the art high power Empower imaging technology enabled camera for the army, navy and air force to perform surveillance, reconnaissance and target acquisition. Therefore it is important for EDS to make this move to be closer to Empower’s other engineering groups supporting its military imaging effort with products and technologies.
This relocation will not interfere with current EDS activities. EDS expects the new facility will be fully functional by the fall of this year.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes forward-looking information within the meaning of applicable securities laws. All statements included in this news release that are not historical facts are forward looking statements, including statements regarding management’s plans for the Company’s business and anticipated future performance of the Company. Such statements are based on management’s current estimates, assumptions and projections using available information. These statements are not guarantees of the Company’s future performance and are subject to risk uncertainties and other important factors, which could cause the Company’s actual performance to be different from that projected. Factors that could cause actual results to differ materially from these forward- looking statements include those risks set out in the Company’s public documents filed on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
About Empower Technologies™
Founded in 2000, Empower Technologies (TSX.V: EPT) has transformed from an embedded technology company to a full-fledged innovative technology, products and services and manufacturing company. Empower Technologies as a group caters to security and surveillance, military, automotive and transportation, healthcare, industrial control and consumer electronics industries. Under the Empower Group, the Company has three operating divisions – Empower Embedded Engineering, Empower Imaging Laboratories and Empower Defense Systems. For more information, please visit www.empowertechnologies.com.
Empower’s brands are “LEOs®”, Linux-based embedded operating systems, “BullsEye”, Real-Time Video Stabilizer, “PowerPlay™”, smart consumer electronics.
More Information on Empower Technologies: www.empowertechnologies.com
Chairman, President and CEO
Empower Technologies Corporation
# 130-3751 Shell Road
Airport Executive Park
Richmond, BC, Canada V6X 2W2
Empower Technologies, LEOs, PowerPlay and BullsEye are the trademarks of Empower Technologies, Inc. All other brands are trademarks of their respective owners.