CATCH THE WIND SIGNS LETTER OF INTENT FOR COLLABORATIVE AGREEMENT WITH TECHNOCENTRE ÉOLIEN
July 04 2011 - 7:00AM
PR Newswire (Canada)
MANASSAS, VA, July 4, 2011 /CNW/ -- - Will validate Vindicator®
system operation in cold climates and complex terrain - MANASSAS,
VA, July 4, 2011 /CNW/ - Catch the Wind Ltd. (TSX-V: CTW),
providers of laser-based wind sensor products and technology,
announced today that it has signed a Letter of Intent to enter into
a collaborative agreement with the TechnoCentre éolien to install a
Vindicator(®) laser wind sensor (LWS) on one of its REpower MM92
2.05 MW wind turbines in the Province of Québec, Canada for
evaluation and research and development purposes. The
TechnoCentre éolien is an independent organization active in
developing new technologies to improve wind turbine operations and
performance, particularly in extremely cold climates and complex
terrains. "Our agreement with the TechnoCentre éolien is another
significant milestone for us," said Phil Rogers, President and CEO
of Catch the Wind, Inc. "This project will showcase the
Vindicator system's ability to meet the cold weather and harsh
winter conditions necessary for widespread adoption, and will
provide an excellent opportunity for a significant number of
follow-on orders in Canada, particularly in Québec where more than
3,000 MW will be installed by 2015." Financial terms of the
agreement were not disclosed. The Vindicator® LWS is part of Catch
the Wind's "next generation" turbine control and performance
enhancement system 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,
providing a three-dimensional view of actual wind conditions.
Catch the Wind's turbine performance enhancement system responds to
the real-time, actual measurements of the Vindicator(®) LWS to
optimally control a wind turbine's performance for the purposes of
increasing energy output and reducing damaging stress loads. About
TechnoCentre éolien Founded in 2000, the TechnoCentre éolien is a
not-for-profit organisation whose mission is to contribute to the
development of an industrial wind energy network in Québec, able to
compete on North American and world stages, while valorising the
Gaspé Peninsula and Magdalen Islands as being central to this
emerging niche of Québec's economy. It owns an experimental
northern wind energy site, the Site nordique expérimental en éolien
CORUS (SNEEC) that features two REpower MM92 CCV wind turbines with
a capacity of 2.05 MW each. SNEEC aims primarily to carry out
research, development and technology transfer projects involving
northern conditions. 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/July2011/04/c2947.html
table border="0" tr td align="left" Catch the Wind Ltd.br/ Claudia
Jaquesbr/ Vice President and General
Counsel br/
703-393-0754br/ a
href="mailto:cjaques@catchthewindinc.com"cjaques@catchthewindinc.com/a
/td td align="left" valign="top" TMX Equicombr/
Philip Dalebr/ Investor Relationsbr/ 416-815-0700 ext. 253br/ a
href="mailto:pdale@equicomgroup.com"pdale@equicomgroup.co/aa
href="mailto:pdale@equicomgroup.com"m/a /td /tr /table p /p
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