CHANTILLY, VA, Oct. 25, 2012 /CNW/ - BlueScout Technologies
(TSXV: SCT), providers of the BlueScout OCS-210 for optimized wind
energy generation, announced today the complaint filed by
Phil and Alisa Rogers against
BlueScout Technologies, Ltd., relating to an alleged
indemnification agreement in connection with the purchase of a
Falcon Fifty aircraft, was dismissed yesterday without prejudice
for lack of jurisdiction under the Virginia Declaratory Judgment
Act in the Fairfax Circuit Court.
The Rogers also voluntarily dismissed an
additional claim that BlueScout had breached the alleged
indemnification agreement. With both the voluntary and court
ordered dismissals of claims there are no longer any outstanding
complaints against BlueScout relative to this issue.
"The court's dismissal of this complaint is good
news for the Company; it allows us to continue honing our focus on
product development and sales efforts," said Jo Major, President and CEO of BlueScout
Technologies, Inc. "We are adding operational hours, now over
300,000, on a fleet of expanding deployed products and improving
our data analysis capabilities. Optical control is becoming
an economic reality. Turbines under OCS-210 control produce more
power, are less noisy in their power output, and reduce turbine
stress."
The dismissed complaint, originally filed in
October 2011, was seeking a
declaratory judgment that an alleged indemnification agreement by
BlueScout relative to the Rogers' personal guaranty of a loan made
by VFS Financing, Inc. to Falcon Fifty, LLC in connection with its
purchase of a Falcon Fifty aircraft was valid and enforceable.
About BlueScout
BlueScout Technologies (TSXV: SCT) increases energy production and
decreases operating costs by applying groundbreaking
microgeographical wind flow sensing to turbine control systems that
increases the effectiveness and availability of wind turbines.
BlueScout combines precise, optically based wind forecasting with
advanced predictive control architectures to ready the turbine for
the imminent wind inflow changes - optimizing energy production and
reducing the harmful effects of wind turbulence on the turbine.
With extensive operating data on multiple wind turbine models,
BlueScout is the leading, value-added innovator in wind turbine
performance and optimization.
The team consists of experienced high-tech,
R&D and manufacturing engineers, innovative entrepreneurs, and
proven leaders. The BlueScout team has unique expertise and shares
a firm commitment, as part of the wind power industry, to
continuously improve the reliability of wind power generation
through innovation. For more information, visit
www.BlueScout.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 BlueScout Technologies. Any number
of important factors could cause actual results to differ
materially from these forward-looking statements as well as future
results. Although BlueScout 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. BlueScout Technologies 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.
SOURCE BlueScout Technologies
