Ozop Energy Solutions: PCTI Signs Letter Of Intent With PPP (India) - TheStreet

Ozop Energy Solutions: PCTI Signs Letter Of Intent With PPP (India)

WARWICK, NY., Sept.
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WARWICK, NY., Sept. 24, 2020 (GLOBE NEWSWIRE) -- Ozop Energy Solutions . ( OZSC ), ("Ozop" or the "Company"), has announced that its fully owned subsidiary Power Conversion Technologies Inc.(PCTI) has executed a letter of intent with Precision Power Products (India) Private Limited (PPP). Completion of the Prospective Transaction is anticipated to take place on or before 09/30/2020, following the completion of formal legal documentation.

  1. PPP is interested in entering into a Technology Development Agreement (the TDA) with PCTI. This agreement is being structured under three categories: FULL DESIGN, PARTIAL DESIGN and JOINT DESIGN, known as Model B. The purpose of the TDA is to permit PPP to purchase PCTI products and/or components for resale in India under the name PPP. In addition, transference of technical information to PPP in support of the "Made in India" strategy. 
  2. PPP is interested in entering into a Reseller Agreement. PPP will be an active representative in the India market for PCTI, known as contact Model A

Precision Power Products (I) Pvt. Ltd. is an ISO 9001:2008 certified company established in 1991. Since then, it has held a successful track record of developing number of equipment, systems, sub-systems and software for Military, Industrial and Commercial applications. Primary products include (but are not limited to) Software development (GUI and Firmware), Control Systems, Embedded Systems, Sensors, Rectifiers and Power Electronics development. With such a wide product portfolio, PPP has participated in prestigious defense projects for the Indian Navy, Naval Aviation, Army, Air Force and Shipbuilding Yards.

PPP invests majority of the profit into Research and Development and strongly believes in the "Made in India" and the IDDM initiative and is led by a strong team of technocrats in Power Electronics, Embedded Systems and Software.

PPP has multiple in-house modernized set ups to design, develop, manufacture, and test a multitude of electrical, electronic and software products and PPP provides extensive support to customers with offices located in Aurangabad, Mumbai, Delhi, Pune, Bengaluru, Hyderabad, and Visakhapatnam.

Based on PPP's evaluation, their initial projection of five-year revenue opportunity is placed at $118 Million Dollars.

For more information on PCTI please follow on the link, www.pcti.com .

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About Ozop Energy Solutions.

Ozop Energy Solutions ( http://ozopenergy.com/ ) invents, designs, develops, manufactures, and distributes ultra-high power chargers, inverters, and power supplies for a wide variety of applications in the defense, heavy industrial, aircraft ground support, maritime and other sectors. Our strategy focuses on capturing a significant share of the rapidly growing renewable energy market as a provider of assets and infrastructure needed to store energy.

About Power Conversion Technologies, Inc.

Power Conversion Technologies, Inc. ( www.pcti.com ) invents, designs, develops, manufactures and distributes standard and custom power electronic solutions. Founded in 1991 and located in East Butler, Pennsylvania, the Company's mission is to be the global leader for high power electronics with a standard of continued innovation.

Safe Harbor Statement

"This press release contains or may contain, among other things, certain forward-looking statements. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the company's plans, objectives, projections, expectations and intentions and other statements identified by words such as "projects," "may," "will," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "potential" or similar expressions. These statements are based upon the current beliefs and expectations of the company's management and are subject to significant risks and uncertainties, including those detailed in the company's filings with the Securities and Exchange Commission. Actual results may differ significantly from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the company's control). The company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law."

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