SOURCE: Korsair Holdings AG

Korsair Holdings AG

April 23, 2013 15:00 ET

Korsair Holdings AG Enters Into Agreement With Canadian Vertical Wind Turbines Manufacturer on Creation of Strategic Partnership in European Market

BERLIN--(Marketwired - Apr 23, 2013) - Korsair Holdings AG (BERLIN: NOM) announces that it has entered into agreement with a Canadian manufacturer of "vertical wind" turbines for the purpose of creation of strategic partnership in the European marketplace. Because of the sensitive nature of the agreement, the name of the manufacturer cannot be disclosed at this time and will be announced at a later time.

According to Boris Rubizhevsky, Korsair Holdings CEO: "We see small wind and especially vertical wind turbines as the next wave of wind energy installations. Vertical wind turbines with direct drive generator offer needed flexibilities for smaller scale installations making such systems attractive from individual home owners to farmers, to small enterprises that wish to contribute to lowering carbon footprint as well as lower their own energy costs. The Canadian Company has created an efficient and profitable energy source that is completely environmentally friendly, with a wind turbine that can start with a slight breeze and operate in winds as low as 4 to 5 miles an hour."

According to the European Wind Energy Association (EWEA), "The EU wind energy sector installed 11.6 gigawatts (GW) of capacity in 2012, bringing the total wind power capacity to 105.6 GW. Wind energy represented 26% of all new EU power capacity installed in 2012, and investments of between EUR12.8 billion and EUR17.2 billion. It is now meeting 7% of Europe's electricity demand -- up from 6.3% at end 2011."

Mr. Rubizhevsky further commented: "We are very excited by the opportunities this partnership will bring to Korsair. We will now be able to offer several options to our potential customers, i.e. wind turbine only and a complete energy system that will also include our Lithium Ferro Phosphate batteries and controls. With the system starting price at under EUR10,000 and going up to over EUR50,000 we expect to reach EUR7.5million in sales over the next 12 months. Over the next several months Korsair expects to engage several established local distributors to help us with our sales efforts."

About Korsair Holdings AG,
Korsair Holdings AG is a technology holding company managed by an international development group focusing on environmental and technical infrastructure projects related to renewable energy and green technologies. By combining environmental innovations with creative management and proven industrial leadership, Korsair Holdings AG strives to stay in the forefront of the green technology business.

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