CATCH THE WIND SIGNS SALES AGREEMENT WITH BORALEX FOR 6 VINDICATOR® LWS UNITS
June 06 2011 - 6:00AM
PR Newswire (Canada)
MANASSAS, VA, June 6, 2011 /CNW/ -- - Grows international base of
users and broadens integration with more turbine makes - MANASSAS,
VA, June 6, 2011 /CNW/ - Catch the Wind, Ltd. (TSX-V: CTW)
announced today that it has sold six Vindicator(®) laser wind
sensor (LWS) units to Boralex (TSX: BLX), a power producer with an
installed capacity of 700 MW in Canada, the Northeastern United
States and France. The sales agreement includes an option to
purchase hundreds of additional units over a set period. "Our sales
agreement with Boralex is significant on a number of levels," said
Phil Rogers, President and CEO of Catch the Wind, Inc. "Not
only does it provide the potential for a significant number of
follow-on orders, it also expands our installed base around the
world through an expected installation into France for the first
time. Equally important, it allows us to broaden the number of
turbine makes and models into which the Vindicator has been
integrated given Boralex's use of Enercon turbines." The
installation of the Vindicator(®) laser wind sensor units will
initially take place on six Boralex wind turbines located on
different sites in North America and Europe. Installation is
expected to begin in the third quarter of the current calendar
year. Boralex's primary use of the Vindicator® LWS is
intended for increased energy output. Financial terms of the sales
agreement were not disclosed. The Vindicator® LWS is a "next
generation" wind sensor for utility-scale wind turbines. From its
position on top of the nacelle, the Vindicator® LWS determines wind
speed and direction up to 300 meters in front of the turbine. As a
result, the Vindicator® LWS provides a three-dimensional view of
actual wind conditions enabling the optimization of a wind
turbine's performance for the purposes of increasing energy output
and reducing damaging stress loads. About Boralex Boralex is a
power producer whose core business involves developing and
operating renewable energy power stations with a total installed
capacity of 700 MW in Canada, the Northeastern United States and
France. Boralex is also committed under power development projects,
both independently and with European and Canadian partners, to add
approximately 400 MW of power. With nearly 350 employees, Boralex
is known for its diversified expertise and in-depth experience in
three power generation segments — wind, hydroelectric and thermal —
and will add a fourth segment to its energy portfolio with the
upcoming commissioning of its first solar power station. Boralex's
shares and convertible debentures are listed on the Toronto Stock
Exchange under the ticker symbols BLX and BLX.DB, respectively.
More information is available at www.boralex.com or www.sedar.com.
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/June2011/06/c2898.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 br/ br/ br/ br/ /td td br/ br/ br/ br/ /td td br/ br/ br/
br/ /td td br/ br/ br/ br/ /td td br/ br/ br/ br/ /td td TMX
Equicombr/ Philip Dalebr/ Investor Relationsbr/ 416-815-0700 ext.
253br/ a
href="mailto:pdale@equicomgroup.com"pdale@equicomgroup.com/a /td
/tr /table
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