TechPrecision Corporation Announces Achievement of Important Product Manufacturing Milestone by Still River Systems, Inc.

WESTMINSTER, Mass., May 24 /PRNewswire-FirstCall/ -- TechPrecision Corporation (OTC Bulletin Board: TPCS) ("TechPrecision", or "the Company"), a leading manufacturer of large-scale, high-precision machined metal fabrications with customers in the alternative energy, medical, nuclear, defense, aerospace and other commercial industries, today reported that its customer, Still River Systems, Inc., has successfully extracted a clinical beam from the first production unit of the world's smallest high-energy proton therapy accelerator. This technologic achievement paves the way for the first installation of Still River's Monarch250 proton beam radiotherapy system at the Siteman Cancer Center at Barnes-Jewish Hospital and Washington University School of Medicine in St. Louis, MO.

Using breakthroughs in superconducting technology, Still River Systems has manufactured the world's smallest high-energy proton beam therapy system.  Proton beam therapy has been used in cancer treatment for over 60 years, however, the size, complexity and cost of proton beam accelerators has limited the availability of proton beam therapy to just a few centers around the world.  Still River System's Monarch250 system is aimed at increasing physician and patient access to proton beam therapy by offering a cost effective alternative to existing proton therapy systems.

TechPrecision's wholly owned subsidiary, Ranor, Inc., has been working in close collaboration with Still River Systems over the past two and a half years to develop an efficient manufacturing process to produce Still River Systems' Monarch250 proton beam radiotherapy system. Ranor has an exclusive manufacturing and supply agreement with Still River Systems to manufacture key components of the Monarch250 proton beam radiotherapy system, and following FDA clearance, this could generate approximately $30 million in revenue to Ranor, over the next three years.

"We congratulate the entire Still River Systems team on this important milestone," stated Lou Winoski, CEO of TechPrecision Corporation. "It is a pleasure to work in concert with Still River Systems in their mission to make proton beam therapy cost effective and available to the radiation oncology community and cancer patients. Ranor's team effort in support of Still River Systems on the Monarch250 system provides an ideal example of our strategy to assist companies with complex prototyping and manufacturing support as they develop and launch market innovations. We are excited to contribute to the development of this important cancer treatment device and look forward to continuing to assist Still River Systems into the future."  

"Access to Ranor's deep metal fabrication and machining expertise and facilities has been a valuable resource for Still River Systems as we developed the Monarch250 system," commented Bill Alvord, Vice President of Operations at Still River Systems. "We are pleased to have continued access to this expertise as we ramp up the production of our Monarch250 proton therapy system under our exclusive manufacturing and supply contract."

About Still River Systems

Still River Systems, Inc., based in Littleton, Massachusetts, is dedicated to providing physicians, and their patients, access to high quality, cost-effective proton therapy solutions. Still River Systems is developing the Monarch250 Proton Therapy System, an affordable, precise and compact proton therapy system for cancer treatment. The Monarch250 has not been cleared by the U.S. Food and Drug Administration for distribution or clinical use. For more information on Still River Systems and the Monarch250 Proton Therapy System, please call 978-540-1500 or visit www.stillriversystems.com.

About TechPrecision Corporation

TechPrecision Corporation, through its wholly-owned subsidiary Ranor, Inc., manufactures metal fabricated and machined precision components and equipment. These products are used in a variety of markets including: alternative energy, medical, nuclear, defense, industrial, and aerospace to name a few. TechPrecision's goal is to be an end-to-end service provider to its customers by furnishing customized and integrated "turn-key" solutions for completed products requiring custom fabrication and machining, assembly, inspection and testing. To learn more about the Company, please visit the corporate website at http://www.techprecision.com. Information on the Company's website or any other website does not constitute a part of this press release.

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward looking statements are often identified by the use of forward-looking terminology such as "believes," expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the Company's ability to generate business from long-term contracts rather than individual purchase orders, its dependence upon a limited number of customers, its ability to successfully bid on projects, and other risks discussed in the company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.

SOURCE TechPrecision Corporation