CATCH THE WIND PROVIDES UPDATE
28 February 2011 - 11:00PM
PR Newswire (Canada)
MANASSAS, VA, Feb. 28 /CNW/ --
- Reduces production cost for its
Vindicator(®) Laser Wind Sensor -
- Preliminary trial data results
should trigger customer follow-on orders - MANASSAS, VA, Feb. 28
/CNW/ - Catch the Wind Ltd. (TSXV: CTW) reported that consistent
with its recently announced initiative to optimize the use of
capital, the company has reduced the production costs of its
Vindicator(®) laser wind sensor (LWS) by approximately 50%. The
cost reduction results from a new production configuration achieved
as a result of the knowledge gained from customer field trials
conducted over the past 18 months as well as the transfer back to
the Vindicator® LWS of the miniaturization developed previously for
Company's hand-held wind sensing device, Racer's Edge(® )LWS.
The new product configuration also significantly improves the ease
of installation and serviceability of the Vindicator® LWS units.
"We continue to execute on our strategy and are making steady
progress against each of our milestones," said Phil Rogers,
President and CEO of Catch the Wind. "This recent momentum is
particularly encouraging as we prepare for our upcoming
participation at the European Wind Energy Association (EWEA) Annual
Event, where we will present data results from recent field trials
and customer evaluation programs." Mr. Rogers added, "Based on a
review of the preliminary data results from customer trials, which
are consistent across various turbine makes and models as well as
different wind sites, we believe the benefits delivered by the
Vindicator will meet or exceed the trigger points for follow-on
orders from customers given the provisions of our existing customer
agreements." As previously announced, Catch the Wind will
present data that consistently and uniformly demonstrated the
ability of the Vindicator(®) LWS to generate increased energy
output at the upcoming EWEA 2011 Annual Event, Europe's premier
wind energy conference. EWEA will be held in Brussels, Belgium from
March 14 to 17. The conference is expected to attract more than
10,000 wind energy professionals. Details on the event can be found
at http://www.ewec2011.info. Catch the Wind has also been invited
to present their technology at CleanEquity Monaco 2011 on March 3
and 4. An invitation only event hosted by Innovator Capital,
a London specialist investment bank and the Monaco Chamber of
Economic Development, CleanEquity Monaco is a forum for emerging
clean-tech companies to present to financial investors, policy
makers, legislators and end users. In 2009, Catch the Wind was a
runner up for the award for Excellence in the Field of
Environmental Technology Research and has been nominated this year
to compete for the 2011 Clean Equity Monaco Award in the Fields of
Environmental Technology Development and Commercialization. More
information on the conference can be found at
http://www.cleanequitymonaco.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/February2011/28/c6321.html
table valign="top" border="0"trtdCatch the Wind
Ltd. /td tdTMX Equicom/td/tr
trtdClaudia Jaques /td tdJoe
Racanelli/td/tr trtdVice President and General
Counsel /td tdInvestor Relations/td/tr
trtd703-393-0754 /td
td416-815-0700 ext. 243/td/tr trtda
href="mailto:cjaques@catchthewindinc.com"cjaques@catchthewindinc.com/a
/td tda
href="mailto:jracanelli@equicomgroup.com"jracanelli@equicomgroup.com/a/td/tr/table
Copyright
Bluescout Technologies Ltd. (TSXV:CTW)
Historical Stock Chart
From Aug 2024 to Sep 2024
Bluescout Technologies Ltd. (TSXV:CTW)
Historical Stock Chart
From Sep 2023 to Sep 2024
Real-Time news about Bluescout Technologies Ltd. (TSX Venture Exchange): 0 recent articles
More Chatworth Resources Inc. (Tier2) News Articles