Catch the Wind Ltd V.CTW

Awesome News Release!!!

[IqaluitZen]

CATCH THE WIND SIGNS SALES AGREEMENT WITH TRANSALTA FOR 20 VINDICATOR® LWS UNITS


https://tmx.quotemedia.com/news.php?qm_symbol=CTW



May 12, 2011 (Canada NewsWire Group) --
- Represents Catch the Wind's largest sales order to date -
MANASSAS, VA, May 12 /CNW/ - Catch the Wind Ltd. (TSX-V: CTW) announced today that it has sold 20 Vindicator® Laser Wind Sensor (LWS) units to TransAlta Corporation, Canada's largest independent renewable energy provider, with an option to purchase additional units. The sale is Catch the Wind's largest to date for wind turbine control.
"We are extremely pleased that TransAlta, a company that we first began to work with in August 2009, has agreed to purchase 20 Vindicator units," said Phil Rogers, President and CEO of Catch the Wind Inc. "Today's sales agreement validates our belief that demonstrating the capabilities of the Vindicator through customer trial programs was a necessary requirement for the launch of new, innovative technology that effectively changes the wind industry landscape. Given the positive results of all of our evaluation programs to date, and as our base of users continues to grow, we expect to see accelerated sales of the Vindicator in the months and years ahead."
The installation of the Vindicator® LWS units is expected to begin in July 2011 on a wind farm to be designated by TransAlta.
The Vindicator® LWS is a "next generation" wind sensor for utility-scale wind turbines. From its position on top of the nacelle, the Vindicator® LWS determines wind speed and direction up to 300 meters in front of the turbine. As a result, the Vindicator® LWS provides a three-dimensional view of actual wind conditions enabling the optimization of a wind turbine's performance for the purposes of increasing energy output and reducing damaging stress loads.
Financial terms of the sales agreement were not disclosed.
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.
Catch the Wind Ltd.
TMX Equicom
Claudia Jaques
Joe Racanelli
Vice President and General Counsel
Investor Relations
703-393-0754
416-815-0700 ext. 243
[e-mail]
[e-mail]