NEWS RELEASECATCH THE WIND AND AXYS ANNOUNCE INITIAL SALES OF WINDSENTINEL(TM)
3/31/2011 7:00 AM - Canada NewsWire
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MANASSAS, VA, Mar 31, 2011 (Canada NewsWire via COMTEX News Network) --
- Firstever use of wind sensing technology on Great Lakes - - Supportslaunch of one of North America's first offshore wind farms -
Catchthe Wind Ltd. (TSX-V: CTW) announced today that its exclusivelicensing partner, AXYS Technologies, has sold a WindSentinelTM buoy, acustom marine floating platform bundled with a Vindicator® Laser WindSensor (LWS) unit, to each of the Fishermen's Energy LLC and theMichigan Alternative and Renewable Energy Center (MAREC) of GrandValley University. The sales mark the first ever under exclusivelicensing agreement signed by Catch the Wind and AXYS.
"We arevery excited by the initial sales of the WindSentinel and the prospectsthat our laser wind sensing technology will be used for the first timeon the Great Lakes as well as in the building of one of NorthAmerica's first offshore wind farms," said Phil Rogers, President andCEO of Catch the Wind Inc. "We look forward to our continuedcollaboration with AXYS and capitalizing on the growing demand foreffective and efficient offshore wind resource assessmentcapabilities."
As announced previously, Catch the Wind grantedAXYS an exclusive license to combine and integrate a Vindicator® LWSunit with custom AXYS marine floating platforms, and sell the bundledproducts worldwide. AXYS has committed to purchase a minimum of 47Vindicator® LWS units over the five-year term of the licensingagreement.
Fishermen's Energy will use the WindSentinelTM buoyfor wind resource assessment purposes as part of its efforts to buildone of North America's first offshore wind farm. Fishermen's Energy hasalready installed a Vindicator® LWS unit onshore next to a traditionalcalibrated meteorological tower to verify wind data. TheWindSentinelTM buoy will be deployed close to an onshore meteorologicaltower for a period of time to confirm the data quality prior to thefinal deployment at the site of Fishermen's planned 66 turbine windfarm in federal waters 12 miles off the coast of Atlantic City, NewJersey. The WindSentinelTM buoy will collect data not only for windresource assessment, but will also acquire a full range ofenvironmental and weather data, including avian activity.
MARECwill use the WindSentinelTM buoy to conduct a comprehensive Great Lakeswind assessment review and related environmental studies on LakeMichigan. MAREC's use of the WindSentinelTM buoy will mark the firsttime that laser wind sensing equipment will be used to measure offshorewind conditions on the Great Lakes.
The WindSentinelTM buoyprovides a substantial cost saving over ocean-based meteorologicalmasts, which cost between $5 and $10 million can take more than oneyear to erect, and require significant regulatory approval. As afloating platform, the WindSentinelTM can be built and deployed withinsix months of order, and provides the high level of accurate datarequired.
About Catch the Wind Ltd.
Catch the Wind Ltd. isa high-growth technology company headquartered in Manassas, Virginia.The company was founded in 2008 to develop and manufacture theVindicator(®) laser wind sensor.
Catch the Wind serves thecommercial market sector for laser based wind sensor systems,recognized as the "gold standard" in wind measurement. The company isfocused on becoming a major contributor in making clean, renewable windenergy more affordable and profitable. For more information, visitwww.catchthewindinc.com.
Forward-Looking Information
Thisnews release includes certain forward-looking statements within themeaning of Canadian securities laws. Forward-looking statements involverisks, uncertainties and other factors that could cause actual results,performance, prospects and opportunities to differ materially fromthose expressed in such forward-looking statements. Forward-lookingstatements 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 differmaterially from these forward-looking statements as well as futureresults. Although Catch the Wind believes that the assumptions andfactors used in making the forward-looking statements are reasonable,undue reliance should not be placed on these statements, which onlyapply as of the date of this news release, and no assurance can begiven that such events will occur in the disclosed timeframes or atall. Catch the Wind disclaims any intention or obligation to update orrevise any forward-looking statement, whether as a result of newinformation, future events or otherwise.
Neither TSX VentureExchange nor its Regulation Services Provider (as that term is definedin the policies of the TSX Venture Exchange) accepts responsibility forthe adequacy or accuracy of this release.
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SOURCE: Catch the Wind Ltd.
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