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Ozop Energy Solutions Inc (OTCMKTS: OZSC) Announces Canadian Navy Contract

Ozop Energy Solutions Inc (OTCMKTS: OZSC) has announced that its wholly-owned subsidiary Power Conversion Technologies Inc (PCTI) has received an order from Canada’s Department of National Defence (DND), Maritime Forces Atlantic. The announcement made on August 31 revealed an order for three submarine support battery charging systems.

The DND is a department of the Government of Canada that helps the Canadian Armed Forces defend the country’s interests both locally and internationally.

Details of the order

Two of the chargers are high capacity battery chargers of 1.87MW. They have an input of 4160Vac and an output of 750VDC-2500A. The third charger is a low capacity battery charger of 21KW with an input of 208Vac-125Aac and an output of 28Volc-700a. The value of the contract is $721,880CAD.

According to a statement made by Bill Yargeau, President of PCTI, these will be some of the biggest battery charging units for this type of application. Yargeau also expresses the company’s excitement to work on the DND’s Canadian Submarine maintenance project and believes they can successfully address their needs. Following the announcement, company shares rose to $0.069 per share, a 22.12% increase.

Brian Conway, the CEO of Ozop, acknowledges that the new PCTI president, Yargeau, is taking the company to new heights with the new project. Ozop appointed Yargeau as president of PCTI on July 8, 2020.

Ozop executes purchase order for tesla

This announcement comes on the heels of a statement made by Ozop on August 25, when the company revealed that it had executed a purchase order for a Tesla MEGAPACK. This was the first of their projects for Tesla Inc (NASDAQ: TSLA)

Ozop is a company that designs, manufactures and distributes inverters, high power chargers and power supplies. The application of these chargers is in industries, maritime, defence, airport ground support and others. Components distributed by Ozop include solar inverters, stationary batteries, PV panels, solar mounting systems, onsite generators, among others.

PCTI develops, designs, manufactures and distributes standard and custom-made power electronic solutions for the military, industry and other sustainable energy sectors. Its clients include some of the largest manufacturing industries and the US military.