- Grows international base of users and broadens integration with more
turbine makes -
MANASSAS, VA, June 6, 2011 /CNW/ - Catch the Wind, Ltd. (TSX-V: CTW)
announced today that it has sold six Vindicator® laser wind sensor (LWS) units to Boralex (TSX: BLX), a power producer
with an installed capacity of 700 MW in Canada, the Northeastern United
States and France. The sales agreement includes an option to purchase
hundreds of additional units over a set period.
"Our sales agreement with Boralex is significant on a number of levels,"
said Phil Rogers, President and CEO of Catch the Wind, Inc. "Not only
does it provide the potential for a significant number of follow-on
orders, it also expands our installed base around the world through an
expected installation into France for the first time. Equally
important, it allows us to broaden the number of turbine makes and
models into which the Vindicator has been integrated given Boralex's
use of Enercon turbines."
The installation of the Vindicator® laser wind sensor units will initially take place on six Boralex wind
turbines located on different sites in North America and Europe.
Installation is expected to begin in the third quarter of the current
calendar year. Boralex's primary use of the Vindicator® LWS is
intended for increased energy output.
Financial terms of the sales agreement were not disclosed.
The Vindicator® LWS is a "next generation" wind sensor for utility-scale
wind turbines. From its position on top of the nacelle, the Vindicator®
LWS determines wind speed and direction up to 300 meters in front of
the turbine. As a result, the Vindicator® LWS provides a
three-dimensional view of actual wind conditions enabling the
optimization of a wind turbine's performance for the purposes of
increasing energy output and reducing damaging stress loads.
Boralex is a power producer whose core business involves developing and
operating renewable energy power stations with a total installed
capacity of 700 MW in Canada, the Northeastern United States and
France. Boralex is also committed under power development projects,
both independently and with European and Canadian partners, to add
approximately 400 MW of power. With nearly 350 employees, Boralex is
known for its diversified expertise and in-depth experience in three
power generation segments — wind, hydroelectric and thermal — and will
add a fourth segment to its energy portfolio with the upcoming
commissioning of its first solar power station. Boralex's shares and
convertible debentures are listed on the Toronto Stock Exchange under
the ticker symbols BLX and BLX.DB, respectively. More information is
available at www.boralex.com or www.sedar.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® 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 Catch the Wind Ltd.
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