360KW's Sent to Buenos Aires for installation
NORTH VERNON, IN--(August 11, 2015) - WindStream Technologies, Inc. (WSTI) ("WindStream" or the "Company") announced today that it has completed the manufacturing and shipping of the first 360kW's for Phase 1 of its 2MW installation in Argentina. The first phase of the project totals 1.35MW's of the Company's new product line called the PowerMill™. This shipment represents the first deployment of the PowerMill™ and will be used to generate energy that will be managed by the Entity of Electrical Cooperatives and Distributors of the Province of Buenos Aires. This shipment is scheduled to be followed by an additional five shipments to be delivered and installed through September 2015, at which point Phase 1 will be completed. The balance of the 2MW will follow these initial PowerMill™ deployments and are scheduled to be installed by the end of 2015. To see the PowerMill™, please visit our website: www.windstream-inc.com/products/powermill.
The project is being spearheaded by Surland Technologies, one of Argentina's leading technology importers. "We are very excited to begin installing the PowerMill™ in Argentina and are proud to be the world's first users of this new technology. This once again shows my country's commitment to cutting edge technologies and to working toward finding products and solutions that offset the effects of fossil fuels and climate change," said Christian Schiano, President of Surland.
"This first deployment of the PowerMill™ will showcase the technology in Argentina and provide a platform for follow-on sales to other areas not only in Argentina but throughout Latin America. We expect this product line to be a complement to the needs of countries all over the world that are looking for utility scale generation but lack the available space or resources for conventional systems," said Claudio Chami, Sr. VP of Sales for Latin America.
The PowerMill™ is a system of wind turbines and solar panels that maximize the available real estate upon which a renewable energy system can be deployed. The PowerMill™ uses the core SolarMill® technology as its foundation and then reconfigures its installation methodology to pack even more power generation into the available space. Other variations of the PowerMill™ are being designed and prototyped by the Company to meet the needs of utility companies, rural electrification projects, and larger consumer needs. The PowerMill™ technology is a plug-and-play micro grid for all types of applications.
About WindStream Technologies: Founded in 2008, WindStream Technologies, a public company (WSTI) , is headquartered in North Vernon, Indiana. WindStream Technologies was established to create low-cost hybrid, renewable energy solutions for urban, suburban, and on and off-grid environments. Made in the USA, its patented SolarMill® technology is a distributed energy solution, which produces continuous renewable energy for customers that is always available. The Company's products are sold globally. For more information please visit www.windstream-inc.com.
Certain statements in this press release constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as "anticipate," "believe," "forecast," "estimate," "expect" and "intend," among others. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs but they involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, such as business and political conditions in the geographic areas in which we sell our products; weather and natural disasters; changing interpretations of generally accepted accounting principles; outcomes of government reviews; inquiries and investigations and related litigation; continued compliance with government regulations; legislation or regulatory environments, requirements or changes adversely affecting the businesses in which we are engaged.
Investors should read the risk factors set forth in the Annual Report on Form 10-K/A filed with the SEC on April 22, 2015 and future periodic reports filed with the Securities and Exchange Commission. The information set forth herein should be read in light of such risks. You are urged to consider these factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. The forward-looking statements made herein speak only as of the date of this press release and the Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.
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