- Full scale production of Vindicator(R) LWS expected in early 2010 -
MANASSAS, VA, Sept. 22 /CNW/ - Catch the Wind Ltd. (TSX-V: CTW.S) announced today that it has entered into a manufacturing services agreement and will outsource the production and assembly of its Vindicator(R) Laser Wind Sensor (LWS), the world's most advanced forward wind measurement technology, to BreconRidge Corporation, a provider of collaborative design and manufacturing services.
"Collaborating with a world-class provider of design and manufacturing capabilities represents an important next step in our growth as it will allow us to address existing demand and significant long-term market potential for our laser wind sensor and future products," said Phil Rogers, President and CEO of Catch the Wind Ltd. "BreconRidge brings extensive fibre-optic expertise, a reputation for working closely with developers of new, innovative technology, and a proven ability to quickly ramp up production. We look forward to working with BreconRidge and bringing the Vindicator(R) LWS to market."
Under the terms of the manufacturing services agreement signed by both companies, BreconRidge will produce and assemble the Vindicator(R) LWS at its state-of-the-art manufacturing facilities in Ottawa, Canada. BreconRidge will also provide technical, engineering, design and other professional services related to the manufacture of the Vindicator(R) LWS.
"BreconRidge is pleased to be involved in the commercialization of such a sophisticated optical product as the Vindicator(R) Laser Wind Sensor. We look forward to leveraging our design and manufacturing competencies in electro-optical integration and ruggedized design in support of Catch the Wind," said Cyril McKelvie, President and CEO of BreconRidge.
The Vindicator(R) LWS uses laser technology combined with Doppler radar techniques to analyze air particle movement and determine wind speed and direction. The use of Vindicator(R) LWS is primarily intended for improving the performance of wind turbines, resulting in more energy production and reduced maintenance costs.
Catch the Wind expects to begin shipment of its fully qualified production Vindicator(R) LWS units in early 2010.
BreconRidge is a world-class provider of innovative design and manufacturing services for electronic products. With facilities located in North America and Asia, BreconRidge collaborates with the world's leading communications, industrial, medical, aerospace and defense OEMs (original equipment manufacturers). Specializing in RF, microwave and optical technologies and applications, BreconRidge delivers a complete range of life cycle services from collaborative design, new product introduction, supply chain management, process and test engineering, DFx services, manufacturing, repair, distribution and reverse logistics. For more information visit www.breconridge.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(R) 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.
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SOURCE BlueScout Technologies, Inc.
For further information: For further information: Catch the Wind Ltd.: Claudia Jaques, Vice President and General Counsel, (703) 393-0754, email@example.com; The Equicom Group: Joe Racanelli, Investor Relations, (416) 815-0700 ext. 243, firstname.lastname@example.org