This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Powin Energy Receives Significant Order For Lithium Rechargeable Battery Products

Stocks in this article: PWON

TUALATIN, Ore., Sept. 21, 2011 /PRNewswire/ -- Powin Corporation (OTC BB: PWON), an Oregon-based OEM and direct manufacturer of outdoor cookware products, gun safes, fitness and recreational equipment, truck parts, plastic products, renewable energy products and furniture for some of America's most well known retailers, today announced that Powin Energy, its wholly-owned subsidiary, has received an initial Purchase Order from LiteSolar for approximately $400,000 for lithium rechargeable battery products.  LiteSolar, is a major installer of carport structures that incorporate solar and energy storage devices for commercial and multi-family environments.

"We appreciate the positive business relationship that we have with LiteSolar and are pleased to begin the process of providing to them the highest quality lithium rechargeable battery products on the market," stated Michael Morse, Vice President of Operations for Powin Energy.  

The initial container of battery product coincides with the construction of solar and battery powered carports being fabricated with parts manufactured by another Powin Corporation subsidiary, Quality Bending and Fabrication, announced in a press release on September 19, 2011.

"The relationship that Powin Corporation shares with LiteSolar clearly epitomizes the synergy that exists amongst the various business units of Powin," according to Joseph Lu, President and Chief Executive Officer of Powin Corporation.

ABOUT LiteSolar:  

LiteSolar is a well funded subsidiary of a 40-year old real estate developer / owner and energy company. Its mission is to make solar energy available to a wide range of clients that otherwise may not be able to make the switch.  Its customers enjoy the simplification of the process that is provided by having its full scope handled in-house, from design, financing and construction, to operation and maintenance.

About Powin Corporation

Powin Corporation was founded in Tigard, Oregon in 1990 by Joseph Lu, a Chinese-American, and has grown into a large international distributor of more than 2,000 original equipment manufacturer products annually as well as being a direct manufacturer.  It leases two plants in Oregon, one in Mexico and, contracts with six in Mainland China and two in Taiwan.  For more information please visit www.Powin.com.

Powin Corporation trades on OTCQB, the OTC market tier for companies that report to the SEC or a U.S. banking or insurance regulator.  Investors can find Real-Time quotes and market information for the company at http://www.otcmarkets.com/stock/PWON/quote .

Contact:Powin Corporation Ronald Horne, CFO ronaldh@powin.com503.612.3004 Paul KnopickE & E Communications pknopick@eandecommunications.com949.707.5365

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,750.54 +289.22 1.76%
S&P 500 1,956.60 +29.49 1.53%
NASDAQ 4,464.1870 +81.34 1.86%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs