SOURCE: Atlantic Wind & Solar Inc.

Atlantic Wind & Solar Inc.

October 15, 2009 16:45 ET

AWSL Rooftop Solar Division to Demonstrate Its Superior CIT Technology in Newmarket, Ontario

NEWMARKET, ON--(Marketwire - October 15, 2009) - Atlantic Wind & Solar Inc. (OTCBB: AWSL) is pleased to announce that it is proceeding immediately with the installation of two, side-by-side, 6 kw solar PV systems on a single rooftop location in the Toronto suburb of Newmarket. The two systems will be identical in all respects except for the critically important Conversion/Inversion Technology (CIT) that determines the efficiency of any solar PV system. This Field Test comparison will use AWSL's proprietary CIT (developed by its Canadian subsidiary Hybridyne) for one of the 6 kw arrays while the other array will use a leading solar competitor's CIT.

The tests will be performed over a duration of one full year, during which time multiple competitor CITs will be utilized, in order for the testing to be broad based across a spectrum of the competition. The results will be subject to third party verification by at least two qualified, independent sources.

Atlantic Wind & Solar management and Hybridyne's R&D team enthusiastically await the results of this CIT comparison, and are confident that the project will demonstrate the clear superiority of the Company's CIT, given that comprehensive prototype testing has shown it to be up to 29% more efficient at capturing electrical energy from solar over conventional CIT technology. The power from each separate array will be sold into the Ontario Hydro Grid for the next 20 years, generating revenues for AWSL. Electricity from each array will be metered independently confirming which CIT is most efficient at producing energy from solar.

"When and if this comparison test demonstrates a clear advantage to using AWSL's leading edge CIT technology in solar energy systems -- and management certainly anticipates that the results will be unequivocally in favor of its technology -- AWSL will enjoy a considerable marketing advantage as it accelerates its introduction of the technology both domestically and internationally."

...Atlantic Wind & Solar IR Director, Mr. Brent O'Connor

The Rooftop Opportunity

The Ontario Power Authority has instituted the FIT Program which offers to buy (at the highest price) electricity generated by rooftop PV solar arrays through contracts running approximately 20 years. Studies confirm an abundance of solar energy available in Ontario -- superior, in fact, to Germany, a world-leading producer of solar energy as a portion of its total produced electricity. Tens of thousands of suitable rooftops are presently underutilized in Ontario, representing a huge target market for AWSL's advanced Micro Energy Park rooftop solar systems. The Company's Rooftop Solar Division will apply its superior technology in the Micro Energy Parks to maximize power generation and profits under the new Ontario FIT incentives for expanding Renewable Energy use.

About Atlantic Wind & Solar Inc.:

Through focused management, strong R&D, state-of-the-art proprietary technology, exclusive licenses, and joint ventures, Atlantic Wind & Solar Inc. is poised for rapid growth at the forefront of the massive global shift towards environmentally friendly, economical renewable energy. The Company is positioned to achieve significant inroads into key sectors of the annual $200 billion renewable energy boom that is accelerating across North America and around the world.

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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

  • Investor Relations Contact:
    Geneva Bancorp.
    Mr. Brent O'Connor
    +1 647 343-2549
    Email: Email Contact