MONTREAL, Oct. 3 /CNW/ - AAER Inc. (TSX-V : AAE) a Canadian wind turbine
manufacturer today announced it has signed licensing contracts with American
Superconductor Corporation (NASDAQ: AMSC) allowing AAER to manufacture
AMSC-designed wind turbines for wind farms in Canada, the United-States,
Mexico, France and the United Kingdom.
Under the terms of the contracts, AMSC's wholly owned Windtec(TM)
subsidiary will license to AAER the design for its WT-2000sg, a proprietary
2 megawatt ("MW") wind turbine. In addition to upfront license fees, AAER will
pay AMSC royalties for every WT-2000sg wind energy system commissioned and
will purchase from AMSC the electrical system components essential to the
operation of the turbines.
"AMSC's unique design capabilities are an ideal fit for our clients,"
said Dave Gagnon, President and Chief Executive Officer of AAER. "The new
A-2000 Wind Turbine's special features will enable continuous power generation
as well as provide better interconnectivity with electrical grids. We believe
these features will increase the attractiveness of our technology in a rapidly
"We are very pleased with the momentum we have continued to build in the
global wind energy market," said AMSC Founder and Chief Executive Officer Greg
Yurek. "AAER marks our first alliance with a North American wind turbine
manufacturer. With AAER's expertise and the tremendous growth in wind energy
taking place in North America and Europe, I believe this new business
relationship will provide additional growth for both of our companies."
About AAER Inc., (TSX-V: AAE)
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.
About American Superconductor (NASDAQ: AMSC)
AMSC is a leading energy technologies company offering an array of
solutions based on two proprietary technologies: programmable power electronic
converters and high temperature superconductor (HTS) wires. The company's
products, services and system-level solutions enable cleaner, more efficient
and more reliable generation, delivery and use of electric power. AMSC is a
leader in alternative energy, offering grid interconnection solutions as well
as licensed wind energy designs and electrical systems. As the world's
principal supplier of HTS wire, the company is enabling a new generation of
compact, high-power electrical products, including power cables, grid-level
surge protectors, Secure Super Grids(TM), motors, generators, and advanced
transportation and defense systems. AMSC also provides utility and industrial
customers worldwide with voltage regulation systems that dramatically enhance
power grid capacity, reliability and security, as well as industrial
productivity. The company's technologies are protected by a broad and deep
intellectual property portfolio consisting of hundreds of patents and licenses
worldwide. More information is available at www.amsc.com.
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., Eric Bouchard, Telephone:
(514) 844-7997, firstname.lastname@example.org