- Reduces production cost for its Vindicator® Laser Wind Sensor -
- Preliminary trial data results should trigger customer follow-on orders
MANASSAS, VA, Feb. 28 /CNW/ - Catch the Wind Ltd. (TSXV: CTW) reported
that consistent with its recently announced initiative to optimize the
use of capital, the company has reduced the production costs of its
Vindicator® laser wind sensor (LWS) by approximately 50%. The cost reduction
results from a new production configuration achieved as a result of the
knowledge gained from customer field trials conducted over the past 18
months as well as the transfer back to the Vindicator® LWS of the
miniaturization developed previously for Company's hand-held wind
sensing device, Racer's Edge® LWS. The new product configuration also significantly improves the ease
of installation and serviceability of the Vindicator® LWS units.
"We continue to execute on our strategy and are making steady progress
against each of our milestones," said Phil Rogers, President and CEO of
Catch the Wind. "This recent momentum is particularly encouraging as we
prepare for our upcoming participation at the European Wind Energy
Association (EWEA) Annual Event, where we will present data results
from recent field trials and customer evaluation programs."
Mr. Rogers added, "Based on a review of the preliminary data results
from customer trials, which are consistent across various turbine makes
and models as well as different wind sites, we believe the benefits
delivered by the Vindicator will meet or exceed the trigger points for
follow-on orders from customers given the provisions of our existing
As previously announced, Catch the Wind will present data that
consistently and uniformly demonstrated the ability of the Vindicator® LWS to generate increased energy output at the upcoming EWEA 2011
Annual Event, Europe's premier wind energy conference. EWEA will be
held in Brussels, Belgium from March 14 to 17. The conference is
expected to attract more than 10,000 wind energy professionals. Details
on the event can be found at http://www.ewec2011.info.
Catch the Wind has also been invited to present their technology at
CleanEquity Monaco 2011 on March 3 and 4. An invitation only event
hosted by Innovator Capital, a London specialist investment bank and
the Monaco Chamber of Economic Development, CleanEquity Monaco is a
forum for emerging clean-tech companies to present to financial
investors, policy makers, legislators and end users. In 2009, Catch the
Wind was a runner up for the award for Excellence in the Field of
Environmental Technology Research and has been nominated this year to
compete for the 2011 Clean Equity Monaco Award in the Fields of
Environmental Technology Development and Commercialization. More
information on the conference can be found at http://www.cleanequitymonaco.com.
About Catch the Wind Ltd.
Catch the Wind Ltd. is a high-growth technology company headquartered in
Manassas, Virginia. The company was founded in 2008 to develop and
manufacture the Vindicator® laser wind sensor.
Catch the Wind serves the commercial market sector for laser based wind
sensor systems, recognized as the "gold standard" in wind measurement.
The company is focused on becoming a major contributor in making clean,
renewable wind energy more affordable and profitable. For more
information, visit www.catchthewindinc.com.
This news release includes certain forward-looking statements within the
meaning of Canadian securities laws. Forward-looking statements involve
risks, uncertainties and other factors that could cause actual results,
performance, prospects and opportunities to differ materially from
those expressed in such forward-looking statements. Forward-looking
statements in this news release, include, but are not limited to,
economic performance and future plans and objectives of Catch the Wind.
Any number of important factors could cause actual results to differ
materially from these forward-looking statements as well as future
results. Although Catch the Wind believes that the assumptions and
factors used in making the forward-looking statements are reasonable,
undue reliance should not be placed on these statements, which only
apply as of the date of this news release, and no assurance can be
given that such events will occur in the disclosed timeframes or at
all. Catch the Wind disclaims any intention or obligation to update or
revise any forward-looking statement, whether as a result of new
information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE Catch the Wind Ltd.
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