AWNE (.57) Announces Several New Orders for Windturbines
Aug 7, 2007 1:03:00 PM
Copyright Business Wire 2007
TORONTO--(BUSINESS WIRE)--
Americas Wind Energy Corporation's ("AWEC" or the "Company") (OTCBB: AWNE) customer, Waverly Light and Power ("Waverly"), has announced AWEC's sale to them of two AWE 900 windturbines. Waverly's press release is set out below:
WAVERLY LIGHT AND POWER PURCHASES TWO WIND TURBINES
Waverly, IA - July 17, 2007- Waverly Light and Power has purchased
two AWE54-900 kW wind turbines from Americas Wind Energy, Inc. in
a $3.4 million investment.
The 900 kW turbines are scheduled to be in operation by the summer
of 2008 and together will provide over 4 million kWhs of
electricity for the community. The units will be located east of
Waverly, one on the Remley Farm and the other on an adjacent
70-acre farm site.
"We searched to find extremely durable units featuring direct
drive technology new to this country," said Glenn Cannon, General
Manager of Waverly Light and Power. "We're excited about
pioneering this technology in the Midwest and the United States."
As the first public power system to own and operate wind
generation in the Midwest, Waverly Light and Power continues to
lead the industry in using renewable energy resources and is
committed to providing 20% renewable energy by the year 2020 as
part of Waverly Light and Power's 20 by 2020 campaign initiated by
the Board of Trustees in 2006.
The new wind turbines will join Skeets 4, currently in operation
two miles north of Waverly and three hydro turbines located on the
Cedar River.
Consent of Waverly Light and Power
The Company has received the express written consent of Waverly to use the contents of Waverly's news release dated July 17, 2007.
About Americas Wind Energy Corp.
AWEC is focused on the manufacturing and marketing of medium sized (900 kW) windturbines for the North American market. AWEC's strategy is to manufacture as much as possible in North America, with the intention of providing both cost effectiveness and local content. All of AWEC's projects to date have made use of local tower manufacturers.
AWEC is and intends to remain a virtual manufacturer. This means AWEC plans to subcontract the components of its windturbines to qualified manufacturers and manufacturing partners to achieve the best in quality at the lowest cost. As a key part of the strategy of a virtual manufacturer, AWEC plans to maintain strict quality assurance programs and quality control procedures for its subcontractors and partners.
If you would like additional information on AWEC, please view AWEC's website at www.awewind.com and AWEC's listing on the OTCBB, symbol AWNE. For more information, or to join AWEC's mailing list, please contact the Investor Relations Department by emailing ir@awewind.com.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Since the forward-looking statements relate to future developments, results or events, these statements are highly speculative and involve risks, uncertainties and assumptions that are difficult to assess. You should not construe any of these statements as a definitive or invariable expression of what will actually occur or result. Such forward-looking statements in this and Waverly's news release include, among others, the expectation and/or claim, as applicable, (i) the 900 kW turbines are scheduled to be in operation by the summer of 2008 and together will provide over 4 million kWhs of electricity for the community; (ii) as the first public power system to own and operate wind generation in the Midwest, Waverly Light and Power continues to lead the industry in using renewable energy resources and is committed to providing 20% renewable energy by the year 2020 as part of Waverly Light and Power's 20 by 2020 campaign initiated by the Board of Trustees in 2006; (iii) AWEC's strategy is to manufacture as much as possible in North America, with the intention of providing both cost effectiveness and local content; (iv) AWEC is and intends to remain a virtual manufacturer; (v) AWEC plans to subcontract the components of its windturbines to qualified manufacturers and manufacturing partners to achieve the best in quality at the lowest cost; and (vi) as a key part of the strategy of a virtual manufacturer, AWEC plans to maintain strict quality assurance programs and quality control procedures for our subcontractors and partners.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, (i) Waverly's ability to complete the purchase of the windturbines and obtain all approvals and authorizations to operate the windturbines; (ii) Waverly's ability to negotiate and complete sales contracts with customers; (iii) Waverly continuing to operate consistent with its current mandate (iv) AWEC's ability to obtain all required parts from suppliers to manufacture windturbines; (v) AWEC having enough funding to complete the manufacture of windturbines; (vi) AWEC's ability to develop and maintain relationships with subcontractors and qualified manufacturers in North America; (vii) AWEC's ability to manufacture its products in North America cost effectively and efficiently; and (viii) AWEC's ability to maintain and update, when and if required, its quality assurance programs and quality control procedures for its subcontractors and partners. These forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's periodic reports filed from time to time with the Securities and Exchange Commission and available at www.sec.gov.
Source: Americas Wind Energy Corporation
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Americas Wind Energy Corporation
Investor Relations Department
416-233-5670
ir@awewind.com
www.awewind.com
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