CHANTILLY, VA, June 26, 2012 /CNW/ - Catch the Wind Ltd. (TSXV: CTW), Catch the Wind Ltd. (TSXV: CTW), providers of Optical Control Systems (OCS) for the wind industry, today announced an agreement with Availon GmbH, to provide sales representation, installation and maintenance services in the German market.
Under terms of the Agreement, Availon will work collaboratively to market Catch the Wind's products. Availon's world-class service organization will be responsible for product installation and maintenance.
"This agreement represents a significant opportunity to extend our turbine control products into one of the top wind energy producing regions of Europe," said Jo Major, President and CEO of Catch the Wind, Inc. "Availon is a world-class independent service provider in Europe and North America. We look forward to initial successes in Germany and then expanding our business into additional markets."
Ulrich Schomakers, Availon's CEO said, "We are pleased to work with Catch the Wind, a leader in next-generation turbine control, to expand their business in the German market. Availon is committed to bringing the best leading-edge, cost-effective technologies to our customers to help drive improved return on their turbine investments."
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 Availon GmbH
Since its formation in 2007, Availon has established itself as the leading independent service provider for WTGs in the megawatt class. The German-based company specializes in increasing the availability of all WTGs under their care as well as the continuous technical optimization of WTGs during their entire service life. Its service provisions are entirely flexible and can be varied according to customer requirements. Operators thus benefit from higher yields and reduced operating costs. Aside from the inspection, maintenance, repair and optimization of wind turbines, the proactive services include the reliable supply of spare parts, technical support, fault analysis and remote monitoring. Availon is a true full-service provider with a total output of more than 1,300 Megawatts. Visit Availon at http://www.availon.eu/en/home.html.
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 optical control system (OCS) and optical wind sensors (OWS).
Catch the Wind serves markets for optical 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.
For further information:
Catch the Wind Ltd.
Vice President and General Counsel
+1 703-956-6554 ext. 105
+1 416-815-0700 ext. 253