Catch the Wind Ltd V.CTW

Another News Release!!

[IqaluitZen]

We've hit rock bottom, the only place to go now is up!!! Finally lol
https://www.catchthewindinc.com/news/catch-wind-provides-update

Catch the Wind Provides Update

MONDAY, FEBRUARY 28, 2011
Reduces production cost for its Vindicator® Laser Wind Sensor
Preliminary trial data results should trigger customer follow-on orders
Catch the Wind Ltd. (TSX-V: 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 https://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 athttps://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.
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.
For more information, please contact:
Catch the Wind Ltd.
Claudia Jaques
Vice President and General Counsel
703-393-0754
[e-mail]
The Equicom Group
Joe Racanelli
Investor Relations
416-815-0700 ext. 243
[e-mail]
PDF/Document Version:
Cost Reduction Release_FINAL.pdf