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Ozop Energy Solutions: PCTI Signs Letter of Intent with PPP (India)
Ozop Energy Solutions: PCTI Signs Letter of Intent with PPP (India).
About this update from Ozop Energy Solutions Inc.
[{"type":"text","content":"\n 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. 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. 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 informatio...