- Published: 21 February 2012
- Written by Investor Ideas
ANNAPOLIS, Md. - February 22, 2012 (Investorideas.com renewable energy/green newswire) Clean Wind Energy Tower, Inc. (OTCBB:CWET) (the "Company") announced today that the Asher Enterprises, LLC, note, convertible into common stock, entered into on August 23, 2011, in the amount of $32,500 was paid off in cash. No shares of the Company's common stock from this note are being held in reserve for conversion.
Ronald W. Pickett, Chairman and CEO, stated, "The Company is pleased to report the timely repayment of this incremental financing".
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.
Our 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.
Abundant, Clean, Affordable Energy
As designed, the Company anticipates that each Downdraft Tower could generate enough electricity to power up to 1,600,000 homes using the guidelines set forth in the California Statewide Residential Appliance Saturation Study, 2004. As an independent power producer of clean, renewable energy, the Company will not be selling power directly to consumers but rather to the grid. As currently designed, the Company anticipates that each Downdraft Tower will be capable of generating 1,100 megawatts per hour of salable electricity to the grid. One megawatt equates to 1,000,000 watts or 1,000 kilowatts of electricity. Currently, avoided costs per kilowatt in California are running approximately $0.11 per kilowatt hour.
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 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'.
Company Contact:
1997 Annapolis Exchange Parkway Suite 300
Annapolis, Maryland 21401
Phone: 410-972-4713
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
www.cleanwindenergytower.com
Investor Relations Contact:
Jody Janson
Phone: (855) 848-6937
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
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).
Visit the CWET showcase page at Investorideas.com:
http://www.investorideas.com/CO/CWE/
Research more wind stocks with the renewable energy stocks directory:
http://www.investorideas.com/Companies/RenewableEnergy/Stock_List.asp
About Investorideas.com and our Green Investor content:
Investorideas.com was on the of the first investor sites covering investing in water and renewable energy stocks and has become a global go-to destination for investors researching the cleantech sector, with stock directories, company news, commentary from experts, research reports and industry resources and links. Investors can follow solar stocks commentary on our site with solar expert, J. Peter Lynch.
Sign up at Investor Ideas for free investor alerts including news on wind stocks
http://www.investorideas.com/Resources/Newsletter.asp
Disclaimer/ Disclosure: The following news is part of the Clean Wind Energy Tower, Inc. (OTCBB: CWET) advertising program with Investorideas.com. Clean Wind Energy, Inc. compensates investorideas.com (one thousand five hundred per month, 100,000 144 shares) to be showcased as a renewable energy stock within its hub of sites and blogs.Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and its management and is not the opinion of Investorideas.com. Learn more: www.InvestorIdeas.com/About/Disclaimer.asp
For more information about Investorideas.com contact:
800.665.0411, Email: This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it.