Powin Corporation (OTCBB: PWON), an Oregon-based OEM and direct manufacturer for some of America’s best-known wholesalers and retailers, today announced that its wholly owned subsidiary, Quality Bending & Fabrication (QBF), has received substantial new Purchase Orders from LiteSolar ( www.litesolar.com) to provide parts and components for their renewable energy products. The most recent purchase orders total approximately $600,000, bringing LiteSolar’s total orders for the year to more than $750,000.
LiteSolar is a major installer of carport structures that incorporate solar and energy storage devices for commercial and multi-family settings. In July 2011, Powin Corporation announced the initial Purchase Order issued to QBF from LiteSolar and has continued to expand production for the client from its QBF manufacturing facility in Tualatin, Oregon. In addition, LiteSolar has contracted this year with Powin Energy, another wholly owned Powin subsidiary, to produce more than $400,000 of lithium rechargeable batteries, also for use in LiteSolar’s solar and battery powered carports.
“Since June, we have been manufacturing quality components for LiteSolar’s carports, which incorporate renewable energy products. We appreciate LiteSolar’s continued confidence in us and look forward to more growth in the months and years to come,” said Ronald Horne, Powin Chief Financial Officer.
Powin Corporation (“PWON”) trades on OTCQB, the OTC market tier for companies that report to the SEC or a U.S. banking or insurance regulator. Real-Time quotes and market information for the company are at http://www.otcmarkets.com/stock/PWON/quote ."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.
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