Cleanfield Provides Year-end Results and Outlook

    
    - Increasing demand and UL certifications help build sales momentum -
    

HAMILTON, ON, Oct. 14 /CNW/ - Cleanfield Alternative Energy Inc. (TSX Venture: AIR), the parent company of Cleanfield Energy Corp ("Cleanfield"), an international leader in Vertical Axis Wind Turbine (VAWT) solutions, announced today that it is well positioned to benefit from its recent UL safety certification in the United States, growing government incentives for clean, renewable energy, and increasing end-user demand for sustainable energy solutions. As a result, customer interest in the Company's innovative wind technology is increasing and Cleanfield's revenues are expected to rise appreciably in 2010.

Operating Highlights: Cleanfield is pleased to report the following key activities and accomplishments over the past year.

    
    -  The Wind Energy Institute of Canada (WEICan) is testing Cleanfield's
       VAWT in Prince Edward Island as part of the Small Wind Turbine
       Certification.
    -  In November 2008, Cleanfield established a joint venture with Zhejiang
       Jingye Technology Co. Ltd. (ZJT) based in China. ZJT will make a
       $3-million equity investment in Cleanfield in three annual
       instalments. The JV gives exclusive distribution rights to
       Cleanfield's VAWT in China, and will manufacture turbines for the
       Chinese and international markets.
    -  In July 2009, Cleanfield received United Laboratories (UL)
       certification for its inverter, which is required for US distribution.
       It also contracted to install 10 turbines in early 2010 for an
       architectural showpiece building in downtown Houston.
    -  In July 2009, Cleanfield installed 6 VAWTs on a rooftop of Durham
       College's Whitby Campus building east of Toronto.
    -  To date, Cleanfield has sold and/or installed over 50 of its VAWTs
       throughout Canada, the U.S., Europe and China, and the Company's order
       book continues to grow.
    

Cleanfield's CEO Tony Verrelli said, "We continue to work closely with internationally recognized architecture firms, large real estate developers and engineering firms to develop commercial sales pipelines for our products. We expect that incentives under the American Recovery and Reinvestment Act of 2009 and Ontario's Green Energy Act will drive more investment in the small wind industry and additional sales and revenues for Cleanfield. We are also working with renewable energy specialists in university research and product manufacturing to further develop our leading technology and strengthen our cost advantage."

Financial Highlights: Cleanfield's revenue increased nearly fourfold in the fiscal year ended May 31, 2009, and more than doubled in the fourth quarter from the previous year. The Company's audited financial statements and MD&A for fiscal year 2009 are available on www.SEDAR.com. Cleanfield also completed two financing transactions during its fiscal year 2009, raising $2.5 million by issuing convertible debt and common shares, and completing two debt-for-equity conversions totalling approximately $380,000.

    
    -------------------------------------------------------------------------
                            Fiscal years                 Fourth quarters
                   ----------------------------------------------------------
    Periods ended
     May 31:           2009        2008  Change        2009      2008  Change
    -------------------------------------------------------------------------
    Revenue        $223,794     $47,239    374%      $19,68    $6,100    223%
    Loss         $3,357,963  $3,026,149     11%    $580,324  $819,974    -29%
    Loss per
     share            $0.14       $0.13      8%       $0.02     $0.03    -33%
    -------------------------------------------------------------------------
    

Mr. Verrelli added, "Cleanfield's revenues are gaining traction as we have increased our sales of units in North America and Europe. We believe our revenues will ramp up even more in fiscal 2010 as we further expand sales globally to institutional, commercial and residential customers."

IR and capital fundraising initiative: Cleanfield announced today that it has retained Mr. Dean Gendron, as an experienced and independent investor relations consultant for a period of approximately three months. He will work closely with Cleanfield to raise awareness within the investment community of the Company's expertise in developing and marketing clean tech products. Mr. Gendron will help Cleanfield inform investors of its wind and solar energy product sales strategy and raise capital. He will be compensated with a lump sum payment and commissions for capital funds raised.

About Cleanfield Energy Corp.: Cleanfield is dedicated to developing renewable energy products primarily for urban environments. The Company produces an industry leading Vertical Axis Wind Turbine, which can be installed on rooftops or pole mounts, produces green renewable energy quietly and cost effectively, and is sold worldwide. Cleanfield also provides purchase financing to qualified customers.

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 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. 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 law.

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

SOURCE Cleanfield Alternative Energy Inc.

For further information: For further information: Go to www.cleanfieldenergy.com, or contact Tony Verrelli, President & CEO, Cleanfield Energy Corp., (905) 304-5223, info@cleanfieldenergy.com

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