- Represents Catch the Wind's largest sales order to date -
MANASSAS, VA, May 12 /CNW/ - Catch the Wind Ltd. (TSX-V: CTW) announced
today that it has sold 20 Vindicator® Laser Wind Sensor (LWS) units to
TransAlta Corporation, Canada's largest independent renewable energy
provider, with an option to purchase additional units. The sale is
Catch the Wind's largest to date for wind turbine control.
"We are extremely pleased that TransAlta, a company that we first began
to work with in August 2009, has agreed to purchase 20 Vindicator
units," said Phil Rogers, President and CEO of Catch the Wind Inc.
"Today's sales agreement validates our belief that demonstrating the
capabilities of the Vindicator through customer trial programs was a
necessary requirement for the launch of new, innovative technology that
effectively changes the wind industry landscape. Given the positive
results of all of our evaluation programs to date, and as our base of
users continues to grow, we expect to see accelerated sales of the
Vindicator in the months and years ahead."
The installation of the Vindicator® LWS units is expected to begin in
July 2011 on a wind farm to be designated by TransAlta.
The Vindicator® LWS is a "next generation" wind sensor for utility-scale
wind turbines. From its position on top of the nacelle, the Vindicator®
LWS determines wind speed and direction up to 300 meters in front of
the turbine. As a result, the Vindicator® LWS provides a
three-dimensional view of actual wind conditions enabling the
optimization of a wind turbine's performance for the purposes of
increasing energy output and reducing damaging stress loads.
Financial terms of the sales agreement were not disclosed.
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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