CATCH THE WIND SIGNS NEW LICENSING AGREEMENT WITH AXYS TECHNOLOGIES FOR LAND BASED WINDSENTINEL™
13 June 2011 - 9:00PM
PR Newswire (Canada)
MANASSAS, VA, June 13, 2011 /CNW/ -- - Minimum purchase commitment
of 58 units over five years - MANASSAS, VA, June 13, 2011 /CNW/ -
Catch the Wind Ltd. (TSX-V: CTW), providers of laser-based wind
sensor products and technology, announced today that it has
expanded its business relationship with AXYS Technologies (AXYS)
and signed an exclusive worldwide licensing agreement to integrate
the Vindicator(®) laser wind sensor (LWS) unit into an AXYS system
for land-based wind resource assessment applications. Under the
terms of the five-year licensing agreement, AXYS has agreed to
purchase a minimum of 58 high-precision Vindicator® LWS units from
Catch the Wind over the next five years. With the collaboration of
Catch the Wind, AXYS will design, construct, commission, and market
a land-based wind resource assessment system under the name of
WindSentinel™ Land Station. "Developing new market channels for our
technology is an important part of our strategy to accelerate
commercialization and market adoption of the Vindicator products,"
said Phil Rogers, President and CEO of Catch the Wind Inc. "We
believe expanding our current relationship with AXYS to include the
integration of the Vindicator to a land-based wind resource
assessment system will capitalize on the growing demand for our
technology and will add to our growing sales pipeline." "We believe
there is a good market for a laser wind sensor that has the
reliability of the Vindicator, combined with the remote management
and reporting capabilities offered by our WatchMan500 controller",
says Graham Howe, International Business Development Renewables for
AXYS. "We welcome this opportunity to strengthen our relationship
with Catch the Wind." 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
called the WindSentinel™, and sell the bundled products worldwide.
No financial terms of the agreement were provided. About AXYS
Technologies Inc. AXYS Technologies Inc. is a Canadian company with
over 30 years experience in the design, manufacture and
installation of remote environmental monitoring systems worldwide.
AXYS applies its extensive knowledge and experience to marine,
freshwater, land-based monitoring stations, and offshore wind
resource assessment systems that measure aquatic, oceanic and
atmospheric parameters. For more information, visit
www.axystechnologies.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/June2011/13/c5207.html
table border="0" tr td nowrap="nowrap" 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
nowrap="nowrap" 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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