Cleanfield Gaining Traction with Alternative Energy Initiatives

TORONTO, April 4 /CNW/ - Cleanfield Alternative Energy Inc. ("Cleanfield") (TSXV: AIR), a leader in innovative, urban, renewable energy technologies and building-integrated solutions, is applying its know-how in the development and installation of alternative energy systems - including vertical axis wind turbines and power electronics - to advance several hybrid and solar energy initiatives, including its modified solar inverter, its off-grid hybrid inverter, and a large-scale solar leasing program.

Cleanfield is participating in the Ontario Power Authority's Feed-In Tariff (FIT) and (microFIT) programs, which provide 20-year power purchase agreements for solar PV systems installed by Ontario businesses and residential property owners. The company has installed a 10kW solar PV tracker system in Oshawa, Ontario, and will install two 3.5 VAWTs and a 10kW solar PV rooftop system at the CYO Marydale Park in Hamilton. Cleanfield is also developing a 250kW rooftop system for installation in Mississauga for Churchill International Property Corporation. Churchill has acquired, financed, developed and successfully sold a portfolio of real estate assets with a combined value of nearly $1 billion. Moreover, Cleanfield is in discussions with Churchill to install more PV systems with a capacity of approximately one megawatt (MW).

Cleanfield has initiated a solar PV site leasing program and is currently seeking vacant, flat rooftop space from commercial, institutional and industrial building owners. The program pays building owners a guaranteed annual fee for 20 years in exchange for access to their rooftops for Cleanfield to install solar PV systems.

Cleanfield's CEO Tony Verrelli said, "Leveraging our proprietary technologies and our five-year track record of developing and installing small wind systems, we are now establishing Cleanfield as a new player in the hybrid and solar energy field and finding the partners and capital to support that new growth. Our current plans to install two to five megawatts of solar PV systems could create a new stream of revenue for Cleanfield starting in the next six to nine months. Our solar initiatives are key parts of our overall urban renewable energy technology strategy, which will position Cleanfield as a dynamic power electronics company."

A recent PV forecast by Clear Sky Advisors - a research and advisory firm in Toronto that develops insights and strategies for companies and governments in the renewable energy sector - calls for annual installations in Ontario to increase from 169MW in 2010 to 455MW this year.

ABOUT CLEANFIELD: Cleanfield is an innovative technology company focused on the research, development and distribution of renewable energy solutions for urban environments. Cleanfield possesses industry leading, proprietary inverter technologies, which it currently sells as a complete solution - a 3kW vertical axis wind turbine. The company's vision is to be recognized as an international leader in bringing high-quality and innovative sustainable energy solutions to the marketplace.

FORWARD LOOKING STATEMENTS: Certain statements in this news release may be considered to be forward-looking. These statements relate to future events or Cleanfield's future results including revenues and reflect the current assumptions and expectations of management. Unknown factors may affect the events, performance, revenues and results of operations described herein. Cleanfield undertakes no obligation, and does not intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable laws.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

SOURCE Cleanfield Alternative Energy Inc.

For further information:

Go to www.cleanfieldenergy.com, or contact Tony Verrelli, CEO, Cleanfield (905) 304-5223, info@cleanfieldenergy.com.

Profil de l'entreprise

Cleanfield Alternative Energy Inc.

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.