Source: Atlantic Wind & Solar Inc.
On Monday March 01, 2010
TORONTO--(Marketwire - 03/01/10) - Atlantic Wind and Solar Inc. (AWSL) is pleased to provide further information regarding its wholly owned subsidiary Atlantic Solar Inc.'s (ASI) competitive advantage through the application of leading edge Converter/Inverter technology (CIT). As well, the Company is finalizing plans to expand CIT manufacturing.
From its inception, AWSL has based its Renewable Energy business on the guiding principle that leading edge technology will be the driver that advances the Company's plans for growth, just as it is clearly the driver for the entire Renewable Energy industry that is spawning a paradigm shift in the world's use, and sources, of energy.
Atlantic's CIT Advantage
The success of AWSL's rooftop solar energy systems when launched last year into the large Ontario marketplace, largely reflects the Company's cutting edge CIT that captures more energy and delivers improved economics over conventional inverter technology, currently in use by other renewable system developers. The result of years of development and testing, the Company's CIT provides a significant performance advantage, specifically, 25-30% more output power, in similar sunlight conditions, when compared with traditional solar inverters. While the capital cost of the system is somewhat more expensive than current inverter technology, its higher output offset's the additional capital costs and generates a higher return for the owner, making the ASWL renewable energy system a better overall investment.
AWSL's advanced CIT is specifically designed to start collecting energy produced in much reduced sunlight conditions, and therefore will turn on earlier at dawn and shut off later at dusk, effectively broadening the shoulders (lengthening the energy collection timeframe each day) to a longer period each day than conventional inverters and thus harvesting more energy output during a 24 hour cycle. Simply put, the advanced CIT is an improved "manager" of the electricity production and transmittal-to-grid process.
Expansion of CIT Manufacturing
The expansion of manufacturing will be achieved through an outsourcing agreement with a long standing, local inverter manufacturing partner that meets Ontario's content requirement rules for the Province's FIT program. With a presence in the power electronics manufacturing industry for more than 25 years, this outsourcing partner is located in a large modern facility in Toronto, and is ideally suited to produce these advanced inverters/converters on a large scale.
"Our Joint-Venture partners are very pleased with the increased return on investment that this technology delivers longer term. We believe that this high performance Converter/Inverter technology offers AWSL tremendous potential for rapid growth in the dynamic RE industry outside of Ontario as well." Mr. Charles Mazzacato - Vice President, Atlantic Wind and Solar Inc.
About Charles Mazzacato
Mr. Charles Mazzacato, Vice President of AWSL, has over 30 years of experience in commercial and industrial power systems, engineering, sales, marketing and business development. From 2003 to 2009 he served as VP, Business Development for a variety of companies focusing on delivering infrastructure for mission critical data centers as well as power system components aimed at improving energy efficiency in industrial and commercial applications. From 1996 to 2003, he held a variety of senior executive positions in sales and marketing including VP Sales and Marketing with Powerware Inc., Chairman of its Global Marketing Council, providing leadership and strategic direction for its $700 million sales, marketing and product development efforts. He also served as the National Sales Manager for Schneider Electric's Canadian, Uninterruptible Power Systems (UPS) group and as National Sales Manager for Emerson Electric's, Canadian UPS division. Mr. Mazzacato is a graduate of Ryerson Polytechnical Institute's, Power Systems Engineering program.
AWSL is currently in the final stage of discussions regarding senior financing that would fund all anticipated projects through 2010. The Company expects to announce finalization of the funding agreement shortly.
AWSL ... Poised for Growth
The securing of financing augurs well for Atlantic Wind and Solar's business and overall growth in 2010. The Company intends to further expand through strategically targeted acquisitions. The Company is in discussions regarding a new global distribution network focused on both the American and European markets.
While progressing on current project installations, AWSL is continuing the rapid growth of its Ontario Solar Rooftop Division through focused marketing efforts.
Sales and Marketing Contacts
Ontario property owners with unobstructed commercial rooftops over 30,000 s/f who are interested in leasing rooftop space to AWSL, are invited to contact Mr. Charles Mazzacato +1 800 891 1657 ext. 230. All other Renewable Energy system enquiries can be sent to Mr. Gilles Trahan +1 800 891 1657 ext. 221.
For further coporate information and/or to subscribe for regular news updates from Atlantic Wind & Solar, please visit: www.atlanticwindandsolar.com
Shareholders and investors are strongly cautioned against placing undue reliance on information set forth in these communications in making any investment decisions concerning our securities.
The matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks are detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission including the company's Annual Report, Quarterly Reports and other periodic filings. These forward-looking statements speak only as of the date hereof. The Company disclaims any intent or obligation to update these forward-looking statements.
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