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Critical Power (fka CPWO) RSS Feed

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CPWO Critical Power Solutions Makes Acquisition and Has Change in Control Thursday August 16, 10:07 am ET ASHBURN, Va., Aug. 16, 2007 (PRIME NEWSWIRE) -- Critical Power Solutions International, Inc. (Other OTC:CPWO.PK - News) announced today that the company has acquired all outstanding ownership interests of Elevated Security, Inc., a leading provider of alternative energy powered platforms and solutions, headquartered in Ashburn, VA. ADVERTISEMENT Founded in 2004, Elevated Security, Inc. engineers, manufactures and sells a line of patent pending self-powered trailer systems that can be rapidly deployed to power physical security and communication requirements for areas where power is difficult to obtain, or where conventional power means are too expensive to deploy. The company's alternative energy trailer systems have been chosen by Lockheed Martin for use at nuclear power plants, by the Federal Bureau of Prisons for Emergency Response Teams, and to the U.S. marines for emergency communications. Under the terms of the Merger Agreement, the Company acquired all of the issued and outstanding ownership interests of Elevated Security, Inc. Pursuant to the Agreement the Company elected Patrick Gallagher as its President and Chief Executive Officer, and elected co-founders of Elevated Security, Michael Lee and Hal Allen, as Chief Technical Officer and Chief Operations Officer respectively. As a result of the acquisition, the former owners of Elevated Security have been issued 100 million shares of the company's common stock, representing approximately 72% of the total shares currently issued and outstanding. Elevated Security uses alternative power sources to power communication and security devices. Recent history has proven that U.S. grid power systems are susceptible to lengthy outages. Traditional response to power outages is designed around the use of generators that require diesel fuel and gasoline which can be difficult or impossible to pump out of below ground storage tanks during a disaster. Elevated Security utilizes non-traditional power sources such as solar, wind, and hydrogen to provide efficient recovery, backup and primary power systems that supply 24/7 power to existing towers, poles, or portable towers. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that forward-looking statements involve risks and uncertainties. Although Critical Power Solutions International, Inc. believes the assumptions underlying forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there is no assurance that forward-looking statements included herein will prove to be accurate, and inclusion herein should not be regarded as a representation by Critical Power Solutions International, Inc. or other persons that objectives and plans of Critical Power Solutions International, Inc. will be achieved. Contact: ZA Consulting Inc. Investor Contact (212) 505-5976 pressreleases@za-consulting.net -------------------------------------------------------------------------------- Source: Critical Power Solutions International, Inc.
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