Fri Aug 14, 2009 4:48pm EDT
ST. PETERSBURG, FL, Aug 14 (MARKET WIRE) --
OptiCon Systems, Inc. (OTCBB: OPCN) a global provider of communications
and telecommunications software for Wireline, Wireless and fiber optics,
announced today that the spin-off of the Company's Energy division,
PowerCon Energy Systems, is complete. PowerCon is now a wholly owned
subsidiary of OptiCon Systems.
This transition from a business unit into a wholly owned subsidiary will
be the first step in positioning PowerCon as a major solutions provider
for the fortune 1000 power companies globally. Major global utilities have
initiatives in place to use smart grid (intelligrid, FutureGrid, and the
more modern intergrid and intragrid) technology that delivers electricity
from suppliers to consumers. The use of digital technology to saves
energy, reduces cost, increases reliability, and transparency. Such a
modernized electricity network is being promoted by many governments as a
way of addressing energy independence, global warming and emergency
resilience issues. These new initiatives will help power producers move
into the 21 century.
It is quite possible that the next big financial windfall, for companies
such as PowerCon Energy Systems, will come from helping the multi-trillion
dollar energy industry move into the digital world by providing them
products to accelerate their transition. PowerCon will provide Power
Network Management Software, Intelligrid Monitoring System, and Fault
Detection Information System to the global Power industry.
Sam Talari, acting CEO of the Company, indicated as follows:
"In the next few weeks, we will work diligently to joint venture with
major global utilities as funding partners to complete the development of
our products and services for the power industry and to provide clear and
profitable exit strategy for our investors either through a buyout or and
IPO."
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