Rebranding effort signifies commitment to the wind industry-rooted in a fresh mission and vision that is data-driven and customer-focused
CHANTILLY, VA, Aug. 1, 2012 /CNW/ - Catch the Wind Ltd. (TSX-V: CTW, providers of predictive Optical Control Systems (OCS) for optimized wind energy generation, today announced the complete rebrand of the company, now operating through its wholly-owned subsidiary (formerly Catch the Wind, Inc.) as BlueScout Technologies, Inc. Combined with its proven technology and ambitious product development roadmap, the new brand is positioned to reconfirm the company's commitment to making wind energy more competitive through innovation.
"Our name, BlueScout, is about the future. Our passion is to use our technologies and skills to help our customers in the wind industry understand and manage their wind resource more effectively. We will use this rebranding to show our customers, investors and partners our commitment to helping turbines reliably produce cleaner, renewable energy. To us, the blue of the skies holds intelligence to be discovered and applied, and our passion for exploration is embodied within the concept of scouting what is ahead," said Jo S. Major, Ph.D, President and CEO of BlueScout Technologies, Inc.
BlueScout reveals a new image, complete with a fresh logo, mission, vision, values, and domain name. The company's optically based wind forecasting technology for control systems, the BlueScout OCS-210, is a next generation turbine control system for utility-scale wind turbines. From its position on top of the nacelle, it measures wind speed and direction in the approaching free-stream inflow and employs predictive control architectures to increase energy production and reduce harmful effects of wind turbulence on wind turbines. The optical wind sensor, BlueScout OWS-150, is a lightweight, portable, all-weather wind assessment tool that precisely measures wind speed and direction of vertical profiles above the ground or off shore water surface—reaching the full blade height of most utility scale wind turbines.
Major continued, "BlueScout aspires to develop a unique capability using an understanding of wind characteristics, gained through more than three years of controlling operational wind turbines, to fundamentally change the control philosophy of the wind industry. To realize these goals, we will consistently innovate in collaboration with our customers, always looking to push the envelope of thought leadership, and relentlessly work to use measurement data to dramatically improve reliable performance."
In the coming days the company will provide an operational update - details to be announced separately. The company will continue to be traded on the TSX Venture Exchange (TSX-V) under the stock symbol "CTW" until such time as its trading symbol is changed to reflect this rebranding, which the company expects will occur later this month. In addition, at the company's upcoming shareholders meeting the company will seek the approval of shareholders to change the name of the parent company's name from "Catch the Wind Ltd." to "BlueScout Technologies Ltd." All prior trademarks of the company will no longer be used following this rebranding.
About BlueScout Technologies, Inc. (formerly known as Catch the Wind Inc.)
BlueScout Technologies (TSX-V: CTW) increases energy production and decreases operating costs by applying groundbreaking microgeographical wind flow sensing to turbine control systems that increases the effectiveness and availability of wind turbines. BlueScout combines precise, optically based wind forecasting with advanced predictive control architectures to ready the turbine for the imminent wind inflow changes - optimizing energy production and reducing the harmful effects of wind turbulence on the turbine. With extensive operating data on multiple wind turbine models, BlueScout is the leading, value-added innovator in wind turbine performance and optimization.
The team consists of experienced high-tech, R&D and manufacturing engineers; innovative entrepreneurs and proven leaders. The BlueScout team has unique expertise and shares a firm commitment, as part of the wind power industry, to continuously improve the reliability of wind power generation through innovation. For more information, visit www.BlueScout.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 BlueScout Technologies. Any number of important factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although BlueScout Technologies 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. BlueScout Technologies 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.
BlueScout and the BlueScout logo are trademarks of BlueScout Technologies Inc. All other trademarks are the property of their respective owners.
SOURCE: Catch the Wind Ltd.
For further information:
For more information, please contact, BlueScout Technologies Inc.:
John Green, CFO
+1 703-956-6554 Ext. 103
Lawrence Chamberlain, Investor Relations
+1 416-815-0700 ext. 257