Empower Technologies Announces Signing a Memorandum of Understanding Agreement with ODM Technologies, Inc.
ODM Technologies Becomes the World’s First Authorized Major Consumer Electronics Developer for Empower Technologies’ LinuxDA Embedded O/S Development System
Richmond, British Columbia - August 30, 2004 - Empower Technologies Corporation (“Empower”) is pleased to announce the signing of a Memorandum of Understanding Agreement (MOU) on August 25, 2004 between ODM Technologies, Inc. ("ODM Technologies") and Empower Technologies, Inc. (“Empower US”), a wholly-owned subsidiary of Empower Technologies Corporation (TSX.V: EPT).
Under the terms of the MOU, Empower US will authorize ODM Technologies to become an official developer of LinuxDA Embedded O/S (LEOs) platform products for their Original Design Manufacturing (ODM) customers. This will allow ODM Technologies to develop audio and video consumer products using Empower US LEOs under license to their ODM customers starting January, 2005. ODM Technologies will include this new development system offering as one of their development platform product selections available to customers under the name “2005 Empower Platform”. In the process, ODM Technologies will become a LinuxDA Embedded O/S licensee and subsequently their customers using the 2005 Empower Platform.
Also under the terms of the MOU, ODM Technologies will be contracted to turnkey design and manufacture a group of new PowerPlay consumer audio products jointly with Empower US using ODM Technologies' 2005 Empower Platform. These new consumer audio products using Empower's LEOs will be introduced and available for release through Empower’s growing distribution and sales channels starting January, 2005. The new PowerPlay consumer audio products are also available for private label/OEM to both ODM Technologies' and Empower’s customers.
These two initiatives are part of Empower's strategic plan to bring new revenues into the company through licensing agreements using Empower's LinuxDA Embedded O/S and through profits generated by Empower's own branded PowerPlay products.
"This is another sign that the LinuxDA Embedded O/S is making inroads into the consumer electronics design and engineering industry. Being utilized by one of the top consumer audio and video product developers such as ODM Technologies, provides LinuxDA Embedded O/S a licensing opportunity with major brands. This is fantastic news for Empower Technologies", said Paul Leung, Founder, Chairman & CEO of Empower.
"We are extremely pleased to be working closely with such an excellent partner as ODM Technologies, Inc. and look forward to a long and fruitful relationship for both parties. We are delighted to have entered into this MOU and anticipate expansion of our business together. This is a win-win situation for both companies and our customers”, said Edward Dennis, President of Empower.
“ODM Technologies is pleased to partner with Empower Technologies and combine the LinuxDA O/S with our ODM platform to bring our customers an extremely powerful and capable consumer electronics platform”, said Rich Eilenberg, President and CEO of ODM Technologies.
“ODM is committed to using open standards based software in our ODM platform and products. The technology that Empower brings to this partnership fits perfectly with this strategy. There is a strong synergy between the two companies”, said Cliff Blodget, CTO of ODM Technologies.
Under the terms of the MOU, the two companies will have the definitive agreements completed within 30 days of the signing date of the MOU. There will be further announcements upon completion of the definitive agreements.
About Empower Technologies
Founded in 2000, Empower Technologies is a provider of Linux-based embedded system technologies and solutions for the consumer electronics industry and the intelligent appliance market.
Empower is an innovative company that introduced to the world LinuxDA O/S, the first and only complete Palm® Handheld compatible Linux Operating System scaled down for the Motorola
Dragonball CPU platform. By uniting top professionals from within the computer industry and developing quality partnerships and strategic alliances, Empower is committed to being the leading provider of Linux-based embedded system technologies and solutions for consumer electronics manufacturers.
About ODM Technologies
ODM Technologies, Inc. is a California corporation established in 2001 with offices in Miramar California, Houston Texas, Grand Rapids Michigan and China. ODM's core business is product development, management of contract manufacturing and research and development of new technologies.
ODM Technologies can implement product designs to customer specifications on a turn key basis or for rapid product implementation we offer an “ODM platform” and can apply brand identity. The ODM platform is modular and consists of speakers, digital power amplifiers at several power levels, power supplies, DSP boards, Internet host processor boards, input boards, display options and control options. The DSP or host boards can do decoding and custom processing. Systems can be configured with or without the DSP or host boards. The electronics can also be applied to stand alone AVR receivers, DVD receivers, amplifiers and processors.
ODM Technologies specializes in a total system engineering approach, optimizing the system from source to speaker. This has resulted in many design wins and industry awards such as PC Guide Magazine product of the year, Tech TV Finalist, CNN, MSNBC, Design Technica and Today show exposure.
For more information contact:
ODM Technologies, Inc.
Empower Technologies Corporation
The statements contained in this news release that are not historical facts are forward looking statements. Such statements are based on management's estimates, assumptions and projections using available information. The company cautions that actual financial results could differ materially from the current expectations due to a number of factors.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transactions and has neither approved nor disapproved the contents of this press release.
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