NACEL Energy Increases Investment in Crownbutte Wind Power
June 06 2011 - 6:15AM
Marketwired
NACEL Energy Corporation (OTCQB: NCEN) (PINKSHEETS: NCEN)
(FRANKFURT: 4FC) ("NACEL" or the "Company") today confirmed it has
advanced a total of $111,687 in operating capital through May 31,
2011, to Crownbutte Wind Power Inc. (OTCQB: CBWP) (PINKSHEETS:
CBWP) ("Crownbutte"). In addition to the $111,687 in operating
capital provided to Crownbutte, a further $278,000 in debt
settlement and restructuring has also been achieved since NACEL
acquired its stake in Crownbutte in January of 2011.
The funds advanced by NACEL to Crownbutte were used for general
operating capital and expenses related to the development of
Crownbutte's pipeline of new wind power generation projects. All
capital invested in Crownbutte by NACEL is convertible into the
common stock of Crownbutte based upon a formula authorized by
NACEL's Board of Directors.
Crownbutte developed, built and operated the first utility scale
wind park in the Dakotas at Chamberlain, South Dakota and the
two-phase 30 MW Diamond Willow wind power facility near Baker,
Montana. Twenty GE 1.5 MW wind turbines are operating today at the
Diamond Willow wind park, which was later purchased by
Montana-Dakota Utilities. NACEL is the largest shareholder of
Crownbutte.
About NACEL Energy Corporation (OTCQB:
NCEN)
NACEL is one of the first publicly traded companies in America
exclusively developing clean, renewable, utility scale wind energy.
The Company currently anticipates generating an aggregate 300
megawatts of new wind power upon the commissioning of the Gascoyne
II project in North Dakota, together with the Company's Leila Lake,
Hedley Pointe, Swisher, Channing Flats and Blue Creek, all located
in the Texas Panhandle. NACEL was founded in 2006 and successfully
completed its IPO in December of 2007. NACEL is the largest
shareholder of Crownbutte Wind Power Inc. (OTCQB: CBWP) of Mandan,
North Dakota.
NACEL Energy The WIND POWER COMPANY™
Notice regarding Forward-Looking Statements
Statements in this press release relating to NACEL Energy's
plans, strategies, economic performance and trends, projections of
results of specific activities, and other statements that are not
descriptions or historical facts may be forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995, Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. Forward-looking information
is subject to risks and uncertainties, and actual results could
differ materially from those currently anticipated due to a number
of factors, which include, but are not limited to, risk factors
inherent in NACEL Energy's business. Forward-looking statements may
be identified by words such as "should," "may," "will,"
"anticipate," "expect," "estimate," "intend" or "continue," or
comparable words or phrases. Interested persons are encouraged to
read NACEL Energy's Securities and Exchange Commission filings,
particularly its Annual Report on Form 10-K for the fiscal year
ended March 31, 2010 and its Quarterly Report on Form 10-Q for the
quarter ended December 31, 2010, for meaningful cautionary language
disclosing why actual results may vary materially from those
anticipated by management.
Contact: NACEL Energy Investor Relations 1-888-242-5848
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