SOURCE: Atlantic Wind & Solar Inc.

Atlantic Wind & Solar Inc.

August 10, 2009 16:00 ET

Atlantic Wind & Solar Inc. Signs Landmark MOU With Centripetal Dynamics, Inc. to Advance Wind Power Business Partnership

MIAMI, FL--(Marketwire - August 10, 2009) - Atlantic Wind & Solar Inc. (PINKSHEETS: AWSL) is pleased to announce that it has signed a Memorandum of Understanding (MOU) with Centripetal Dynamics, Inc. "CDI" to define a framework of cooperation and participation in establishing a CDI wind turbine manufacturing faciltiy in Canada for the development of Wind Parks across North America and offshore. Together, AWSL and CDI will advance plans to manufacture CDI's exciting "next generation" wind turbines that represent the potential to revolutionize wind turbine economics and foster rapid corporate growth to a position of leadership in the global Renewable Energy industry. Currently involved in the building of a turbine manufacturing plant in Colorado and Brazil, CDI is well versed in the planning, logistics and execution of a startup turbine manufacturing project.

The signing of this MOU follows the July 2009 announcement by AWSL and CDI of their formal "Agreement to Collaborate" on the development of state-of-the-art hybrid Wind/Solar projects in Ontario. With the signing of this Memorandum of Understanding, the two groups seek to capture the timely vertical-integration opportunities in the dynamic renewable energy industry in North America by manufacturing and deploying state-of-the-art CDI wind turbines and other energy solutions across the continent.

Wind Power ... An Infinite Source of Clean, Cheap Energy

Wind has been the fastest growing source of electricity generation in the world for more than fifteen years and yet globally it is still in its infancy. Less than 1% of the usable wind resources have been developed to date, illustrating the enormous potential for this key sector of the emerging renewable energy boom. Wind power surpasses all forms of conventional energy in terms of its ecological footprint, CO2 emissions (zero), and reserves (infinite) and, in terms of cost and practicality, wind also leads the way forward in the global movement towards dependable renewable energy. North America's abundant wind power resources offer enormous potential to increasingly replace conventional power generation with unlimited clean and economic Renewable Energy in the years ahead.

About CDI

Through strong R&D underpinned by enviable engineering competencies, Arizona based Centripetal Dynamics, Inc. has successfully designed a "next generation" wind turbine that offers unparalleled capabilities and efficiencies in generating electricity from wind power. Currently advancing to the prototype stage, the "CDI" wind turbine encompasses a unique set of attributes that portend extraordinary market potential in the global wind power industry. This "Intelligent Turbine" is designed to achieve new levels of efficiency and provide the ability to operate effectively in low wind regimes that are not currently exploitable by conventional turbines and which, incidentally, constitute the major proportion of geographic wind regimes globally.

Turbine Manufacture - A Unique Opportunity in Ontario

Atlantic Wind & Solar in conjunction with Centripetal Dynamics are pursuing a special opportunity brought about by the current business recession and its affects on the Province's nation-leading auto industry: The companies are actively discussing and evaluating the prospects of CDI implementing and constructing a world-class manufacturing plant to take advantage of idled auto plant capacity to convert world class manufacturing facilities to the large scale manufacture and assembly of next generation wind turbines.

Located on the doorstep of the huge US market, where wait times for new turbines are measured in years, AWSL's proposed opportunity of a CDI, Ontario turbine manufacturing plant would directly address turbine shortages in the midst of a voracious market for Wind Power projects across North America. The project envisions a major contribution to Ontario manufacturing, employment and exports.

About Atlantic Wind & Solar Inc. (AWSL)

Through focused management, strong R&D, state-of-the-art proprietary technology and exclusive licenses, Atlantic Wind & Solar Inc. is poised for rapid growth at the forefront of the massive global shift towards environmentally friendly, economical renewable energy. Through acquisitions such as the Company's recently announced acquisition of Hybridyne Power Systems Canada Inc., and potential Joint Ventures such as today's MOU signed with Centripetal Dynamics, Inc. "CDI," the Company is positioned to achieve significant inroads into several key sectors of the annual $200 billion renewable energy boom that is accelerating across North America and around the world.

For more information about Entripetal Dynamics, please visit: http://www.centripetal-dynamics.com/

For more information about Atlantic Wind & Solar, please visit: www.atlanticwindandsolar.com

Disclaimer:

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.

Contact Information

  • Contact:

    Atlantic Wind & Solar Inc.
    (786) 235-8325
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    Investor Relations Contact:
    Geneva Bancorp
    Mr. Brent O'Connor
    +1 647 343-2549
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