Catch the Wind and AXYS announce initial sales of WindSentinelMarch 31, 2011
Manassas, VA, March 31, 2011 – Catch the Wind Ltd. (TSX-V: CTW) announced today that its exclusive licensing partner, AXYS Technologies, has sold a WindSentinel™ buoy, a custom marine floating platform bundled with a Vindicator® Laser Wind Sensor (LWS) unit, to each of the Fishermen’s Energy LLC and the Michigan Alternative and
Renewable Energy Center (MAREC) of Grand Valley University. The sales mark the first ever under exclusive licensing agreement signed by Catch the Wind and AXYS.
“We are very excited by the initial sales of the WindSentinel and the prospects that our laser wind sensing technology will be used for the first time on the Great Lakes as well as in the building of one of North America’s first offshore wind farms,” said Phil Rogers, President and CEO of Catch the Wind Inc. “We look forward to our continued collaboration with AXYS and capitalizing on the growing demand for effective and efficient offshore wind resource assessment capabilities.”
As announced previously, Catch the Wind granted AXYS an exclusive license to combine and integrate a Vindicator® LWS unit with custom AXYS marine floating platforms, and sell the bundled products worldwide. AXYS has committed to purchase a minimum of 47 Vindicator® LWS units over the five-year term of the licensing agreement.
Fishermen’s Energy will use the WindSentinel™ buoy for wind resource assessment purposes as part of its efforts to build one of North America’s first offshore wind farm. Fishermen’s Energy has already installed a Vindicator® LWS unit onshore next to a traditional calibrated meteorological tower to verify wind data. The WindSentinel™ buoy will be deployed close to an onshore meteorological tower for a period of time to confirm the data quality prior to the final deployment at the site of Fishermen’s planned 66 turbine wind farm in federal waters 12 miles off the coast of Atlantic City, New Jersey. The WindSentinel™ buoy will collect data not only for wind resource assessment, but will also acquire a full range of environmental and weather data, including avian activity.
MAREC will use the WindSentinel™ buoy to conduct a comprehensive Great Lakes wind assessment review and related environmental studies on Lake Michigan. MAREC’s use of the WindSentinel™ buoy will mark the first time that laser wind sensing equipment will be used to measure offshore wind conditions on the Great Lakes.
The WindSentinel™ buoy provides a substantial cost saving over ocean-based meteorological masts, which cost between $5 and $10 million can take more than one year to erect, and require significant regulatory approval. As a floating platform, the WindSentinel™ can be built and deployed within six months of order, and provides the
high level of accurate data required.
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.
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. Forwardlooking 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 forwardlooking 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.
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AXYS Technologies Inc. designs, manufactures, distributes and maintains remote environmental data acquisition, processing and telemetry systems. For further information contact AXYS at: email@example.com or www.axystechnologies.com.