08/25/2011
Catch the Wind Signs Agreement with Leading Manufacturer of Wind Turbines
MANASSAS, VA, Aug. 25, 2011. Catch the Wind Ltd. (TSX-V: CTW), providers of laser-based wind sensor products and technology, announced today that it has leased, with an option to buy, a Vindicator® laser wind sensor (LWS) unit to a leading manufacturer of wind turbines.
"The introduction of lease arrangements with the option to purchase represents the next phase of our sales and business development strategy," said Phil Rogers, President and CEO of Catch the Wind Inc. "This new approach will allow us to address growing market demand to evaluate Vindicator units and generate cash flow at the same time." Under the terms of the lease arrangement, the turbine manufacturer will test and evaluate Vindicator® LWS for a period of three to six months.
Upon successful completion of the evaluation period, the manufacturer has the option to purchase the unit or additional units under a separate sales agreement. 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.
"The introduction of lease arrangements with the option to purchase represents the next phase of our sales and business development strategy," said Phil Rogers, President and CEO of Catch the Wind Inc. "This new approach will allow us to address growing market demand to evaluate Vindicator units and generate cash flow at the same time." Under the terms of the lease arrangement, the turbine manufacturer will test and evaluate Vindicator® LWS for a period of three to six months.
Upon successful completion of the evaluation period, the manufacturer has the option to purchase the unit or additional units under a separate sales agreement. 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.
- Source:
- catch the wind, Inc.
- Email:
- cjaques@catchthewindinc.com
- Link:
- www.catchthewindinc.com/...
