Tuesday, July 22, 2008

Solomon Tech unit wins $1M laser power system order

By Mass High Tech Staff

Solomon Technologies Inc. says its power electronics division has landed $1.1 million from an unnamed customer.

Under the deal, Solomon’s Technipower LLC division will supply 50 of its Cobalt 15 high voltage power drive systems for laser cutting applications.

In February, Technipower won a $150,000 contract to develop and supply a prototype power supply for a new advanced vehicle launch ordinance system for the U.S. military. The contract, from an unnamed branch of the military, called for the company to develop the power supply, which would replace a decades-old system on one of the military’s primary light mobile bombardment platforms. Solomon Technologies (BULLETIN BOARD: SOLM) said the product is intended to increase launch trajectory accuracy.

In January, the company was awarded a $250,000 contract to develop power supply systems for medical devices market giant Siemens Corp. That power system is intended to be used in next-generation medical diagnostic and treatment equipment.

East Berlin, Conn.-based Solomon develops, licenses, manufactures and sells precision electric power drive systems. The company reported a 2007 net loss of $15.2 million on revenue of $8 million.