Annapolis, MD - July 31, 2012 (Investorideas.com
renewable energy/green newswire) Clean Wind Energy Tower, Inc. (
OTCBB:CWET) (the "Company") announced that the Company had communicated to their shareholders of record in a letter that stated:
July 31, 2012
To our valued shareholders,
The executive team at Clean Wind Energy Tower, Inc. has been busy
pressing forward to monetize our valuable research, proprietary data and
Intellectual Property. Last week we announced that our "Core Patent"
had been issued and we believe this provides us with a distinct business
advantage over any potential competitor in the development of the first
Energy Downdraft Tower.
Our principal goal had been to secure a site and obtain all of the
necessary entitlements to develop the first Energy Downdraft Tower. We
recently announced that the City of San Luis, Arizona unanimously
approved the zoning on a parcel of land in San Luis to host our first
Tower. Simultaneously, San Luis approved zoning to allow construction
of a manufacturing facility at the same location for the assembly of the
Tower's wall sections. Our company also has entered into a separate
Development Rights Agreement with San Luis to further support the
addition of a second Tower on a neighboring property.
Perhaps the most exciting new development comes from the very
recent weather data models recently completed by our consultants. It
has always been our intention to develop the first Energy Downdraft
Tower as inexpensively as possible, while preserving pro forma net cash
flows after operations of at least twice that amount required to service
the accompanying debt. Actual atmospheric data from the San Luis
Tower location area now confirms that we can lower the first Tower
height from 3,000 feet down to 2,250 feet without compromising our goal
of maintaining 2:1 cash flow coverage for debt service. This
modification significantly reduces risk, costs, and construction time as
well as water consumption.
In closing, we have certainly come a long way towards achieving our
intended goal of developing the first Energy Downdraft Tower. We are
rapidly approaching that "turning point "when all that will be needed is
sufficient capital to actually construct the first tower. Our objective
is to obtain that necessary project capital through partnerships for
each Tower. Until then, we will continue to seek to finance our early
stage development activities through the public company.
Thank you for your continued support!
Sincerely,
Ronald W. Pickett, President & CEO
Clean Wind Energy Tower, Inc.
About Clean Wind Energy, Inc.
Clean Wind Energy, Inc., a wholly owned subsidiary of Clean Wind
Energy Tower, Inc., has designed and is preparing to develop, and
construct large "Downdraft Towers" that use benevolent, non-toxic
natural elements to generate electricity and clean water economically by
integrating and synthesizing numerous proven as well as emerging
technologies.
The Company's core objective and focus is to become a provider of clean efficient
green energy to the world communities at a reasonable cost without the destructive residuals of
fossil fuel,
and to help broker the chasm between both, while continuing to generate
innovative technological solutions for today and tomorrow's electrical
power needs. In addition to constructing Downdraft Towers in the United
States and abroad, the Company intends to establish partnerships at home
and abroad to propagate these systems and meet increasing global demand
for clean water and electricity. Clean Wind has assembled a team of
experienced business professionals, engineers and scientists with access
to the breakthrough energy research upon which this technology is
founded and the proven ability to bring the idea to market. Clean Wind
Energy, Inc. has filed several patents that the Company believes will
further enhance this potentially revolutionary technology. Clean Wind
Energy, Inc. is based in Annapolis MD, and is traded on the OTCBB under
the symbol 'CWET'. For more information visit
www.cleanwindenergytower.com
Clean Wind has filed several patents that the Company believes will
further enhance this potentially revolutionary technology. Clean Wind
Energy, Inc. is based in Annapolis MD, and is traded on the OTCBB under
the symbol 'CWET'. For more information, please visit
www.cleanwindenergytower.com.
Contact:
Clean Wind Energy, Inc.
1997 Annapolis Exchange Parkway Suite 300
Annapolis, Maryland 21401
Phone: 410-972-4713
E-mail:
Info@cwetower.com
www.cleanwindenergytower.com
Investor Relations Contact:
Jody Janson
Phone: (855) 848-6937
Email:
ir@cwetower.com
Cautionary Note Regarding Forward-Looking Statements
Statements included in this release may constitute "forward-looking
statements" within the meaning of Section 27A of the Securities Act of
1933, Section 21E of the Securities Exchange Act of 1934, and as that
term is defined in the Private Litigation Reform Act of 1995. Such
statements involve a number of risks and uncertainties such as
competitive factors, technological development, market demand and the
Company's ability to obtain new contracts and accurately estimate net
revenues due to variability in size, scope and duration of projects, and
internal issues in the sponsoring client. Further information on
potential factors that could affect the Company's financial results, can
be found in the Company's various filings with the Securities and
Exchange Commission (SEC).
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Wind Energy Tower, Inc. (OTCBB: CWET) publishing program with
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