CHANTILLY, VA, Feb. 6, 2012 /CNW/ - Catch the Wind Ltd. (TSX-V: CTW), providers of optical turbine control systems (OTCS), today announced a signed sales agreement with Saturn Power to equip all wind turbines at its Gesner wind farm in Ontario, Canada with Vindicator® OTCS.
"This agreement underscores the importance of increasing the electrical output of wind energy resources." said Jo Major, Interim President and CEO of Catch the Wind, Inc. "It is exciting and rewarding to work with a visionary wind farm owner like Saturn Power. They recognize the value of using a look-ahead system to control their wind turbines, choosing to install our systems in parallel with the installation of their new turbines for the entire wind farm. We would also like to thank the wind turbine manufacturer for coordination in this project and for agreeing to the installation of our system on these new turbines without modification of the warranty agreement. We look forward to opportunities to work closely with Saturn Power and helping them boost their power production."
"This sale is significant in that, during the planning phase of this wind farm, Saturn Power recognized the benefit that this optical control technology would bring to its operations," Major added. "Our mission is to make these control systems standard equipment in all modern wind turbines, and we are both appreciative and proud to work with Saturn Power on this pioneering project."
Doug Wagner, President of Saturn Power, Inc., stated "We pride ourselves in being pioneers and want to incorporate the latest technology in our projects."
The Vindicator® OTCS is a "next generation" wind control system for utility-scale wind turbines. From its position on top of the nacelle, the Vindicator® OTCS 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 Saturn Power, Inc.
Saturn Power Inc. is a Canadian owned, renewable energy development company based in New Hamburg, Ontario with a focus on wind and solar projects in Ontario. By being sensitive and responsive to the needs of customers, colleagues, the public and maintaining a healthy relationship with the environment, Saturn Power hopes to be perceived as being accountable and providing value to the communities in which we live and work. For more information, visit http://www.saturnpower.ca.
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 Vindicator® optical turbine control system.
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