Clean Wind Energy Tower, Inc. Proceeds with Downdraft Tower Zoning and Site Evaluations
ANNAPOLIS, Md., Feb. 28, 2012 /PRNewswire/ -- Clean Wind Energy Tower, Inc. (OTCBB: CWET), (the "Company") is pleased to announce today that the Company has been notified by the United States Department of the Interior's Bureau of Reclamation that it may proceed with the local zoning process and site evaluations. This notification is in response to the Company's February 15, 2012 application to the Bureau of Reclamation for permission to lease a substantial parcel of property located in the southwestern United States, suitable for the development and construction of a Downdraft Tower.
Clean Wind Energy is aggressively pursuing the building of its first Renewable Energy Downdraft Tower in the United States and had applied for a Temporary Use Permit in order to enable access to the site to evaluate a variety of issues including zoning, performing a preliminary geological survey and a general site evaluation along with other environmental assessments.
This region of the southwest United States provides the proper weather profiles, proximity to the power grid, and other ingredients beneficial to the operation of a Downdraft Tower, and has been targeted as a prime region for alternative energy projects.
Ron Pickett, President & CEO stated: "The selection of what we believe to be a suitable site upon which to build our first Tower is a critical milestone in our Company's transition from a Research and Development Stage company to the development of our first project."
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.
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 leading provider of clean and efficient green energy to the world communities at a reasonable cost without the destructive residuals of fossil fuel, 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, engineering and scientific consultants 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'. For more information, please visit www.cleanwindenergytower.com.
Clean Wind Energy, Inc.
1997 Annapolis Exchange Parkway
Annapolis, Maryland 21401
Investor Relations Contact:
Phone: (855) 848-6937
Cautionary Note Regarding Forward-Looking Statements
Statements included in this release may constitute "forward-looking statements". 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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