MANASSAS, VA, June 28 /CNW/ - Catch the Wind Ltd. (TSX-V: CTW.S), providers of feed-forward, intelligent turbine performance improvement systems that deliver increased energy output and reduced equipment stress loads for utility scale wind turbine generators, announced today that it has sold two Vindicator(R) laser wind sensor (LWS) units to BP Wind Energy. Upon the successful installation and testing of the units, BP Wind Energy has agreed to purchase sizeable quantities of additional units.
"We are pleased to be partnering with BP Wind Energy a leading owner and operator of wind power facilities with over 1,200 MW in commercial operation in the United States," said Phil Rogers, President and CEO, Catch the Wind Inc. "Not only does this opportunity allow us to demonstrate the value of our technology to one of the leading energy companies in the world with the potential of follow-on orders if the Vindicator(R) units meet agreed upon performance criteria, it also allows us the ability to work with a leading wind energy company that has made significant investments to meet America's future energy needs, and is currently developing a number of large wind farm projects in the U.S."
Both companies have agreed to use the services of a recognized third-party evaluator to confirm the results of the test program, which will begin upon delivery and integration of the Vindicator(R) units.
Financial terms of the sales agreement were not disclosed.
About BP Wind Energy
BP Wind Energy is a principal owner and operator of wind power facilities with interests in eight operating wind farms. BP Wind Energy has a gross generating capacity of more than 1,200 megawatts (MW), enough to provide electricity for a city the size of Washington DC.
For more information, visit the company's website at http://www.bpalternativenergy.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.
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 BlueScout Technologies, Inc.
For further information: For further information: Catch the Wind Ltd., Claudia Jaques, Vice President and General Counsel, 703-393-0754, firstname.lastname@example.org; The Equicom Group, Joe Racanelli, Investor Relations, 416-815-0700 ext. 243, email@example.com