SHREWSBURY, MA, Dec. 15, 2021 (GLOBE NEWSWIRE) -- Mass Megawatts Wind Power, Inc. (OTC Pink: MMMW) www.massmegawatts.com hired V Stock Transfer as part of the process toward providing verified share data through a transfer agent by participating in a Transfer Agent Verified Shares administrated by OTC Markets. The program helps build credibility in the financial markets, investors, and brokers. Trust and improved transparency can be achieved with a higher level of service by utilizing an innovative method of publishing current data related to the Company’s shares through automation.
In other news, Mass Megawatts recently announced a 160kW kW project using the patent pending solar tracker taking advantage of the finance incentives of developing on a brownfield area or location with environmental challenges. Although this project is outside the designated opportunity zone which would also provide incentives for low-income communities, larger projects are being planned in the same neighborhood that are inside in geographical location designated as an opportunity zone. Those projects would take advantage of government incentives for selling to low-income electric users. Most importantly, the use of virtual net metering protects the finance interest of the project by having the actual project at a different location than the residence of the low-income customer. If the electricity user cannot pay the electric bill, it would be easier to redesignate another user for maintaining the revenue stream of that solar power unit.
The project is projected to have a pay for itself in about three to four years based on Massachusetts electric prices with current federal and state incentives. The 160-kilowatt project is designed to be able to reduce the cost of solar power by employing a furling technology borrowed from wind technology for protection in the case of high wind events. The technique improves the efficiency of solar arrays without adding significant additional expense. Mass Megawatts is responsible for the site development, fabrication, installation, and the interconnection obligations of the solar project. The solar project is in a low-income area in Worcester, Massachusetts.
In related news, Mass Megawatts began construction of two solar power systems to demonstrate the benefits of the company’s patent-pending, Solar Tracker technology. The two systems are being constructed at the same site in Worcester Massachusetts. They will be identical, except that one system will include the company’s Solar Tracker technology, while the other will not. The performance of these systems will be compared to demonstrate that the Solar Tracker provides a 30% improvement in power generation with less than a 10% increase in cost.
Each solar power system will contain six, 300 watt rated panels. The solar power components in each system will be identical, including their purchase date, the manufacturer, and model numbers. The units will be constructed adjacent to one another, ensuring that the environmental conditions are also the same. Power generation levels from both units will be monitored and compared to conclusively show the positive impact of the solar tracking technology.
https://www.globenewswire.com/news-release/2021/12/15/2352546/0/en/Mass-Megawatts-Hired-V-Stock-Transfer-and-Joins-OTC-Markets-Transfer-Agent-Verified-Shares-Program.html