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Specialized energy technology systems for transportation and power generation

Message: Railpower Technologies awarded contract from Long Beach Container Terminal, Inc.

Railpower Technologies awarded contract from Long Beach Container Terminal, Inc.

posted on Sep 10, 2008 07:35AM
Railpower Technologies awarded contract from Long Beach Container Terminal, Inc. for ultra clean battery hybrid EcoCranes

TSX Symbol: P

BROSSARD, QC, Sept. 10 /CNW Telbec/ - Railpower Technologies Corp. (TSX: P) announced today that Long Beach Container Terminal, Inc. (LBCTI) purchased one hybrid EcoCrane power plant for a rubber tire gantry (RTG) crane with an option for five additional units. The EcoCrane purchased by LBCTI will replace a conventional generator set reducing fuel consumption and emissions by up to 70% when compared to conventional units, and up to 40% when compared to competing eco-friendly technology options.

LBCTI serves several container handling companies at North America's largest container port. The EcoCrane solution was selected by LBCTI for its excellent return on investment due to important fuel savings and lower lifecycle costs.

"We are very excited about this opportunity to provide our ultra clean equipment to the environmentally sensitive area of Southern California" said Mr. Jose Mathieu, President and CEO of Railpower. "We are very proud that our EcoCrane allows our customers to exceed environmental regulations in terms of eliminating harmful emissions and positively impacting non-attainment areas" added Mr. Mathieu.

About Railpower

Railpower Technologies (TSX: P) develops, markets, produces and sells specialized, patented, environment-friendly technology systems for the transportation and related industries. Railpower's technologies significantly reduce fuel usage, operating and maintenance costs and emissions. While Railpower's origins are in the transportation industry, its technologies have broad potential and applications in other markets and industries. Railpower is headquartered in Brossard, Quebec. Its U.S. office is located in Erie, Pennsylvania. (www.railpower.com)

Caution regarding forward-looking statements

Certain statements contained in this release contain forward-looking statements. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions may be used to identify forward-looking statements. Those statements reflect our current views with respect to future events or conditions, including prospective results of operations, financial position, and predictions of future actions, plans or strategies. Certain material factors and assumptions were applied in drawing our conclusions and making those forward looking statements. By their nature, those statements reflect management's current views, beliefs and assumptions and are subject to certain risks and uncertainties, known and unknown, including, without limitation, the ability to secure new orders, the ability to retain our employees, product development or manufacturing delays, the ability of our current manufacturing suppliers to meet our production demands in terms of quantity, quality and costs, our ability to reach a satisfactory agreement with another supplier if necessary or to construct our manufacturing facility on time and within the forecasted budget, changing environmental regulations, the ability to attract and retain business partners, the acceptance of our existing and new products, future levels of government funding, the need to obtain and maintain proprietary rights over our technology, competition from other technologies or new competitors, the ability to access the capital required for research, product development, operations and marketing, the need to generate positive cash flow in the foreseeable future, potential legal liability related to the recall of our Green Goat(R) locomotives, changes in energy prices and currency levels. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by these forward-looking statements. Should one or more of these risks or uncertainties materialize, or should the assumptions underlying our projections or forward-looking statements prove incorrect, our actual results may vary materially from those described in this report as intended, planned, anticipated, believed, estimated, or expected. Unless otherwise required by law, we do not intend or do not assume any obligation to update these forward-looking statements whether as a result of new information, plans, events or otherwise.

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Source: Canada NewsWire (September 10, 2008 - 11:14 AM EDT)

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