CATCH THE WIND AND AXYS ANNOUNCE INITIAL SALES OF WINDSENTINEL™
March 31 2011 - 6:00AM
PR Newswire (Canada)
MANASSAS, VA, March 31 /CNW/ --
- First ever use of wind sensing
technology on Great Lakes - - Supports
launch of one of North America's first offshore wind farms -
MANASSAS, VA, March 31 /CNW/ - Catch the Wind Ltd. (TSX-V: CTW)
announced today that its exclusive licensing partner, AXYS
Technologies, has sold a WindSentinel™ buoy, a custom marine
floating platform bundled with a Vindicator® Laser Wind
Sensor (LWS) unit, to each of the Fishermen's Energy LLC and
the Michigan Alternative and Renewable Energy Center (MAREC) of
Grand Valley University. The sales mark the first ever under
exclusive licensing agreement signed by Catch the Wind and AXYS.
"We are very excited by the initial sales of the WindSentinel and
the prospects that our laser wind sensing technology will be used
for the first time on the Great Lakes as well as in the building of
one of North America's first offshore wind farms," said Phil
Rogers, President and CEO of Catch the Wind Inc. "We look
forward to our continued collaboration with AXYS and capitalizing
on the growing demand for effective and efficient offshore wind
resource assessment capabilities." As announced previously, Catch
the Wind granted AXYS an exclusive license to combine and integrate
a Vindicator® LWS unit with custom AXYS marine floating platforms,
and sell the bundled products worldwide. AXYS has committed
to purchase a minimum of 47 Vindicator® LWS units over the
five-year term of the licensing agreement. Fishermen's Energy will
use the WindSentinel™ buoy for wind resource assessment purposes as
part of its efforts to build one of North America's first offshore
wind farm. Fishermen's Energy has already installed a Vindicator®
LWS unit onshore next to a traditional calibrated meteorological
tower to verify wind data. The WindSentinel™ buoy will be
deployed close to an onshore meteorological tower for a period of
time to confirm the data quality prior to the final deployment at
the site of Fishermen's planned 66 turbine wind farm in federal
waters 12 miles off the coast of Atlantic City, New Jersey.
The WindSentinel™ buoy will collect data not only for wind resource
assessment, but will also acquire a full range of environmental and
weather data, including avian activity. MAREC will use the
WindSentinel™ buoy to conduct a comprehensive Great Lakes wind
assessment review and related environmental studies on Lake
Michigan. MAREC's use of the WindSentinel™ buoy will mark the
first time that laser wind sensing equipment will be used to
measure offshore wind conditions on the Great Lakes. The
WindSentinel™ buoy provides a substantial cost saving over
ocean-based meteorological masts, which cost between $5 and $10
million can take more than one year to erect, and require
significant regulatory approval. As a floating platform, the
WindSentinel™ can be built and deployed within six months of order,
and provides the high level of accurate data required. About Catch
the Wind Ltd. Catch the Wind Ltd. is a high-growth technology
company headquartered in Manassas, Virginia. The company was
founded in 2008 to develop and manufacture the Vindicator(®) laser
wind sensor. Catch the Wind serves the commercial market sector for
laser 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. Forward-Looking Information 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. To
view this news release in HTML formatting, please use the following
URL:
http://www.newswire.ca/en/releases/archive/March2011/31/c8055.html
table border="0" tr td Catch the Wind Ltd.br/ Claudia Jaquesbr/
Vice President and General Counselbr/ 703-393-0754br/ a
href="mailto:cjaques@catchthewindinc.com"cjaques@catchthewindinc.com/a
/td td /td td /td td /td td
TMX Equicombr/ Joe Racanellibr/ Investor Relationsbr/ 416-815-0700
ext. 243br/ a
href="http://jracanelli@equicomgroup.com"jracanelli@equicomgroup.co/aa
href="mailto:jracanelli@equicomgroup.com"m/a /td /tr /table p
/p
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