BENSALEM, PA--(Marketwire - Aug 1, 2012) - Gyrotron Technology Inc. (OTCPK:GYTI), a developer of unique industrial heating technologies, announced today that it has successfully launched its first commercial cryogenic-free gyrotron installation. The customer is now expected to spend the coming months developing and perfecting production techniques for a range of products using the gyrotron and the new production line it has developed and built. Thereafter, the line is to be put into regular use and generate a royalty stream for GYTI.
"We are delighted with the smooth and successful launch of this installation and its performance," said Dr. Vlad Sklyar, president of GYTI. "The customer has invested significant time, money and effort into this project. We understand that it is seeking to expand the current project by replacing multiple lines with a lesser number of gyrotron based lines. We are also in discussions with the customer regarding additional projects and look forward to a long and very fruitful relationship."
About Gyrotron Technology -- (OTCPK:GYTI)
Develops and markets unique industrial heating technologies to a broad range of industries, including glass, solar, and semiconductor. These technologies open new horizons, substantially enhancing productivity and cutting costs by, among other things, applying heat in a dramatically more efficient and effective manner than is possible with legacy technologies.
Please visit our website http://www.gyrotrontech.com/ or go to http://www.gyrotrontech.com/images/gyti.pk%20summary.pdf for GYTI summary information.
This release and the materials referred to herein contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of GYTI. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties inherent herein and in publically available information on GYTI. These risks s uncertainties could cause actual results to differ materially from those indicated in the forward-looking statements.