SOURCE: McKenzie Bay International

McKenzie Bay International

April 16, 2009 09:15 ET

McKenzie Bay (MKBY) to Establish Multiple Revenue Streams

BRIGHTON, MI--(Marketwire - April 16, 2009) - McKenzie Bay International, Ltd's (PINKSHEETS: MKBY) new management has developed a "Go Forward Plan" to transform the Company into a renewable energy technology holding company. The Plan strategy is to acquire ownership of and/or exclusive rights to renewable energy technologies and establish multiple revenue streams through licensing of these technologies to qualified manufacturers, installers, service providers, marketers, and developers.

The Board is conducting a review of the MTI Energy Management / Lighting Specialists Inc. WindStor® license agreement. Although the review is not complete, the Board has determined that the agreement provides for MTI to own the Pioneer Bluff, Ishpeming, Michigan WindStor® installation upon completion. MTI would also be required to pay fees and transfer other conveyances to MKBY's wholly owned subsidiary, WindStor Power Co. These fees and conveyances would be consistent with the "Go Forward Plan." They include:

--  An installation license fee of $25,000 for every installed WindStor®
    wind turbine, and
    
--  Long-term value creation in the form of a 5.0% ownership in MTI's
    affiliated power sales entity, Clean Green Energy LLC ("CGE").  WindStor
    Power will annually receive a 5.0% share of all income (losses), production
    tax credits, investment tax credits, cash distributions, and other
    distributions from all installations owned by CGE, and
    
--  Compounding annual revenue in the form of a $1,000 operating royalty
    per year for every operating WindStor® turbine owned by CGE.
    

Clean Green Energy www.cleangreenenergyllc.com, through its constituent partners and alliances, intends to develop, install, own and operate integrated systems consisting of wind, solar, storage, efficiency, and other technologies in Portfolio Groups at the project holding company level. CGE sells energy generation and efficiencies at the high end of the value chain, institutional and commercial retail customers, under long-term, fixed rate, agreements.

For further information about this release contact investor relations contact Richard Kaiser, YES International, 757-306-6090.

Certain statements made in this press release constitute forward-looking statements and do not guarantee future performance. Actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based solely on the estimates and opinions of management at the time statements are made.

Contact Information

  • Contact:
    YES INTERNATIONAL
    757-306-6090