Calnetix Technologies and Turbo Power Systems Sign Intellectual Property License Agreement

Calnetix Licenses Technology for Oil & Gas Industry-related Products

Cerritos, California – October 27, 2014 – Calnetix Technologies, a world leader in high-speed permanent magnet motor generators, power electronics and magnetic bearings for a variety of applications and industries, announced today an intellectual property license agreement with UK-based Turbo Power Systems (TPS).

The agreement grants Calnetix a license to use TPS Megawatt class electric motor technology, power electronics and control software for oil and gas applications throughout the world, including the right to create new designs, products and processes derived from the licensed technology.

“While similar to our own technology, TPS’s high-speed machines and power electronics offer some unique benefits for applications in oil and gas” said Calnetix’s Chief Technology Officer Patrick McMullen. “Engaging in this licensing agreement will accelerate our development and production times to bring a range of state-of-the-art products to the oil and gas industry.”

TPS designs and manufactures high-performance electric motors, generators, drives and power electronics for original equipment manufacturers, system integrators and end-users in industrial, energy, transportation and defense industries. The technology licensed to Calnetix has been utilized in a wide array of industrial applications.

About Calnetix Technologies

Calnetix Technologies, LLC (“Calnetix”), headquartered in Cerritos, California, is focused on Innovation That Drives Industries™. The company specializes in high-performance, high-speed motor generators and best-in-class advanced magnetic bearings and control systems. Calnetix’s patented, underlying technologies, which have been in use since the company’s inception in 1998, have made Calnetix a world leader in the design and production of high-speed machines. The company’s overall technology portfolio and system integration capabilities have led to development and production contracts with industry leaders and the start of many successful subsidiaries that focus on unique niche markets. For more information, please visit www.calnetix.com.