CHANTILLY, VA, March 22, 2012 /CNW/ - Catch the Wind Ltd. (TSXV: CTW), providers of optical control systems (OCS) for the wind industry, today announced the signing of a multi-unit sales agreement with enXco, an EDF Energies Nouvelles Company. enXco purchased five additional OCS units to outfit wind turbines at multiple North American wind farms with Catch the Wind's advanced optical turbine control system. Installation of these units is scheduled to begin in April of 2012.
"This sale to enXco marks an important new milestone for Catch the Wind, in that CTW and enXco are working together to further validate the performance of the OCS across geographically diverse customer wind farms and additional turbine models. We can now offer customers increased Annual Energy Production using remote optical sensing for better turbine control," said Jo Major, Interim President and CEO of Catch the Wind, Inc. "This agreement is significant in that it allows us to add additional manufacturers to our portfolio of wind turbine models controlled using the OCS. The future for intelligent wind turbine control is available now and we are proud to pioneer this breakthrough technology in collaboration with enXco."
"We are excited about the technical opportunities LIDAR represents to improve the output of our wind projects and enhance the operational performance of the wind turbines," said Richard Jigarjian, Vice President, Generation of enXco.
The Vindicator® OCS is a "next generation" wind turbine control system for utility-scale wind turbines. From its position on top of the nacelle, the Vindicator® 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 Vindicator® optical control system (OCS) and optical wind sensor.
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.
About enXco, an EDF EN Company
enXco (www.enxco.com - an EDF Energies Nouvelles Company www.edf-energies-nouvelles.com) - develops, constructs, operates and manages renewable energy projects throughout North America. For more than two decades, they have been a leader in wind-energy focusing on large-scale wind projects. enXco's portfolio includes solar and biogas technologies, in an effort to help drive the transition to a sustainable energy economy. enXco has grown to be a significant owner and developer of wind-energy installations and is the largest third-party operations and maintenance provider for wind farms in North America.
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