MONTREAL, March 25 /CNW/ - AAER Inc. (TSX-V: AAE), ("AAER" or the
"Company"), Canada's only original equipment manufacturer of wind turbines of
1 megawatt ("MW") and more, announced today that it has signed an agreement
with AAER SAS and Valorem SAS for the delivery of a first 2 MW wind turbine,
scheduled for the end of 2008. The A-2000 wind turbine will be commissioned on
the Criel Energies SARL site in the municipality of Criel sur mer, France, one
of the French wind energy producer's current sites.
The A-2000 represents a significant technological advance. Its torque
control system is optimized through a variable-speed automatic transmission,
allowing the wind turbine to operate at maximum efficiency in different wind
conditions. This unique technology also makes it possible for the A-2000 wind
turbine to seamlessly adapt to various types of electrical grids, including
those typically deployed in North America.
"This agreement is of great strategic value to AAER and represents an
important milestone in our growth. Besides marking our entry into the European
market, it enables us to quickly provide for a technological showcase for our
most powerful wind turbine," said Dave Gagnon, President and Chief Executive
Officer of the Company. "The opportunity for our European and North American
customers to have access to an operational turbine will greatly facilitate and
accelerate the sales cycle, as well as the various associated steps, such as
project financing and access to different specialized financial products."
AAER SAS, 67% owned by AAER and 33% by Valorem, is responsible for
distributing the A-2000 model in France. AAER SAS benefits from the expertise
in logistics, erection and commissioning of Valrea SAS, a wholly-owned
subsidiary of Valorem.
About Valorem SAS
Valorem SAS has been active in France since 1994, notably in the area of
renewable energy studies and in the development of wind farms. More
specifically, Valorem has developed its skills in the wind industry through
capacity studies or engineering mandates for the interconnection of wind
facilities to grids. Valorem has developed and constructed on its behalf or
for third parties, seven wind projects for a total of approximately 70 MW and
is currently undertaking the development of about one hundred wind projects
throughout France. Additional information is available on Valorem's Website at
About AAER Inc.
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
complex 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, Telephone:
(450) 534-5155, www.aaer.ca; The Equicom Group Inc.: Danielle Ste-Marie,
Telephone: (514) 844-6064, email@example.com