Cleanfield Energy Corporate Update and Outlook
Feb 13, 2012, 21:07 ET
- Cleanfield Selected as Wind Turbine Supplier for World Class VAWT Installation
- Cleanfield's India Partner Sai Prasad Energy Releases Sales Forecasts to June of 2012
- Cleanfield & Partners are Awarded R&D Collaboration Funding under Canada-China Framework Agreement for Nanowire-Based Next Generation Solar Cells
TORONTO, Feb. 13, 2012 /CNW/ - Cleanfield Alternative Energy Inc. ("Cleanfield or Company") (TSXV: AIR) is pleased to provide a corporate update and outlook for our shareholders. Despite economic conditions and industry challenges, Cleanfield's pace of activities is accelerating and now involves a variety of commercial opportunities, which leverage its proven experience in the distributed urban energy environment.
Cleanfield's U.S. sales are increasing and now include: the installation of two turbines at Sebastian Airport in Florida, an installation in Dallas Texas, and the selection of three V3 VAWT's for a New Jersey project. In addition, on January 31, 2012 Cedar Valley TechWorks selected Cleanfield as the wind turbine supplier for their Waterloo, Iowa project. The Waterloo project will constitute one of the world's largest VAWT installations.
As of January 2012, over 2,000 architects, engineers and Leadership in Energy and Environmental Design (LEED) professionals have completed Cleanfield's on-line or face-to-face course. These individuals are members of the USGBC and AIA across the United States and are seeking innovative solutions to integrate clean renewable energy into commercial, institutional, industrial and residential buildings.
Cleanfield's CEO Tony Verrelli explains, "While the past few years have been very challenging for our industry, we are optimistic that our recent sales orders in Canada and the U.S. are indicative of the growing demand for our wind turbine and solar products. Revenue opportunities are increasing globally as a result of our partnerships and of the Company executing on its business plan."
Sai Prasad Energy ("Sai") is aggressively selling and marketing Cleanfield's hybrid system (solar and wind) for the Indian market. Sai's national advertising campaign has been very successful, resulting in a tremendous amount of exposure and inquires. Sai anticipates installing over ten-hybrid system by June 2012.
Solar Update: Cleanfield currently has over 5MW of solar opportunities at various stages of the Ontario FIT Program. The Company is also aggressively seeking solar sales opportunities across North America and India.
Nanowire-Based Next Generation Solar Cells: Nanowire technology (nanowire is about 100,000 times smaller than the diameter of human hair) will reduce the cost and increase the accessibility of solar panels, a leading source of renewable energy. On February 8, 2012 Prime Minister Stephen Harper and Chinese Premier Wen Jiabao announced the third call for joint research and development projects under the Canada-China Framework Agreement for Cooperation on the International Science and Technology Partnerships Program (ISTPP). Cleanfield, along with its partners (McMaster University, Zhejiang University and Hyperion Shanghai Drive Technology Co. Ltd.), was awarded R&D collaboration funding.
Hybrid Off-Grid System: Cleanfield's hybrid off-grid system, using both the Cleanfield VAWT wind turbine and solar panels, is currently being marketed in India. The Inverter charges a battery bank and during times when solar irradiation is minimal or missing (night time), or there is little or no wind, the stored energy can be used to supply power to a needed application.
About Cleanfield Alternative Energy: Cleanfield is an innovative technology company focused on the research, development and distribution of renewable energy solutions for the urban environment. The company owns industry leading and proprietary inverter technologies, which it currently sells through a complete solution - a 3 kW vertical axis wind turbine. The company is also developing several advanced solar photovoltaic technologies with strategic partners.
Forward Looking Statements: Certain statements in this news release may be considered to be forward-looking. These statements relate to future events or Cleanfield's future results including revenues and reflect the current assumptions and expectations of management. Unknown factors may affect the events, performance, revenues and results of operations described herein. Cleanfield 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 laws.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
For further information:
Go to www.cleanfieldenergy.com or contact Tony Verrelli, CEO, Cleanfield at 416 756-4890 or [email protected].
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