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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