Construction begins on the site of AAER's first turbine sold in the
MONTREAL, June 17 /CNW/ - Dave Gagnon, President and CEO of AAER Inc.
("AAER") expressed great pleasure at being in Portsmouth, Rhode Island, last
Friday. He was there in the company of Portsmouth Town Council President
Dennis Canario, Deputy State Director Tony Simon, the State Commissioner of
the Office of Energy Resources Andy Dzykewicz, the Chairman of Portsmouth
Economic Development Committee Rich Talipsky and Gary Gump, Chair of the
Sustainable Energy Subcommittee, to break ground at the future site of the
first AAER turbine sold to a client in the United States.
On April 16, AAER announced an agreement between Wind-Smart LLC, a
subsidiary of AAER USA, and the Town of Portsmouth for the purchase of a
1.5 MW A-1500 wind turbine. Delivery of the turbine is scheduled for the
fourth quarter of 2008. The project is worth approximately US $3 million,
including construction and start-up costs. In addition, a 10-year contract was
signed, with an option to renew, for maintenance of the turbine.
The current worldwide shortage of high-powered wind turbines provides an
opportunity for AAER to supply community-based electricity generation
projects. "AAER is the only Canadian manufacturer of high-powered wind
turbines. We believe that our proximity to the US market will allow us to
develop solid, long-term relationships, such as the one with Portsmouth,"
Gagnon said. "In the short term, we should be launching more projects on
American soil, including ones previously announced with the United States
Marine Corps, in Barstow, and the Windland Project, in Tehachapi, California."
About AAER Inc., (TSX-V: AAE)
AAER is a wind turbine manufacturer located in Bromont, Quebec that
manufactures and maintains high capacity 1 Megawatt or more wind turbines
principally for the North American market. Its strategy is to progressively
build its product's components to provide a high level of reliability and a
competitive pricing to its customers. AAER uses proven European technologies
to ensure the performance of its turbines in various wind conditions and
terrains. Its stock is listed on the TSX Venture Exchange (AAE). Additional
information is available on the Company's Website at www.aaer.ca.
This news release contains certain forward-looking statements. These
statements relate to future events or AAER's future economic performance and
reflect the current assumptions and expectations of management. Certain
unknown factors may affect the events, economic performance and results of
operations described herein. AAER 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 law.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: AAER Inc., Dave Gagnon, President and CEO, T:
(450) 534-5155, www.aaer.ca; NATIONAL Public Relations, Julie-Anne Vien, T:
(418) 648-1233 ext. 226, C: (418) 955-7980, firstname.lastname@example.org