CHANTILLY, VA, March 19, 2012 /CNW/ - Catch the Wind Ltd. TSX-V: CTW, providers of Vindicator® Optical Control Systems (OCS), and Sanmina-SCI, a leading manufacturing and engineering solutions company making some of the world's most complex and valuable optical, electronic and mechanical products, today announce the successful completion of the transfer of the OCS into volume manufacturing. The first completed OCS was assembled and shipped from Sanmina-SCI's Kanata, Ontario facility on February 14, 2012.
"Getting the OCS into a solid manufacturing environment is another milestone in our company's history," said Jo Major, Interim President and CEO of Catch the Wind, Inc. "Working with a third-party manufacturer of Sanmina-SCI's quality allows us to execute better and focus on our core mission of using optical control to substantially improve the output power of the wind turbine. This move will increase our on-time shipping performance, improve our overall cost structure and provide us the critical path to quickly growing capacity as our demand increases. The production and assembly of the OCS at Sanmina-SCI's Kanata facility is the result of strong collaborative work between great technical teams. We look forward to continuing to work closely with Sanmina-SCI as production continues to ramp."
"We are committed to helping the clean technology market grow, and by partnering with innovative companies like Catch the Wind, we can help introduce and industrialize these important technologies quickly and efficiently," said Dave Dutkowsky, Executive Vice President of Communications Networks at Sanmina-SCI. "The OCS requires sophisticated assembly and test procedures, and our deep expertise in custom engineering and manufacturing for complex optical products and sensors makes Sanmina-SCI an ideal partner."
Under the terms of the manufacturing services agreement Sanmina will produce and assemble the OCS at its state-of-the-art manufacturing facilities in Kanata, Ontario. Sanmina will also provide technical, engineering, design and other professional services related to the manufacture of the OCS.
The OCS is a "next generation" wind turbine control system for utility-scale wind turbines. From its position on top of the nacelle, the OCS simultaneously measures wind speed and direction in the free stream inflow ahead of the turbine and uses this information to optimize wind turbine performance, increasing energy output and reducing damaging stress loads.
About Catch the Wind Ltd.
Catch the Wind Ltd. is a high-growth technology company headquartered in Chantilly, Virginia. The company was founded in 2008 to develop and manufacture the OCS.
Catch the Wind serves the commercial market sector for optical 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 or follow us on Twitter at www.twitter.com/CatchTheWindInc.
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.
For further information:
Catch the Wind Ltd.
Vice President and General Counsel
416-815-0700 ext. 253