SOURCE: Solar Wind Energy Tower, Inc.
ANNAPOLIS, MD--(Marketwired - May 1, 2014) - Solar Wind Energy Tower, Inc. (OTCQB: SWET) (the "Company"), the inventor of large Solar Wind Downdraft Tower structures capable of producing abundant, inexpensive electricity, today announced the First Solar Wind Downdraft Tower Project Briefing to be conducted on Thursday, May 8th, 2014 at 4:15 PM, Eastern Time. The call will be open to the public and hosted by the Company's CEO Ronald Pickett, who will provide an update on the Company's progress and facilitate a Q&A session.
Ronald Pickett, CEO, Solar Wind Energy Tower, Inc. commented: "Since the announcement of our first Solar Wind Downdraft Tower in the City of San Luis, Arizona we have had numerous inquiries regarding the details about the Development Agreement and the timing of construction. I believe that this Project briefing will be an effective way to communicate this news to our stakeholders and I look forward to the Q&A segment of the call."
First Tower Project
The Company has made a final site selection within the City of San Luis, Arizona for the development of its first project in the United States. On Wednesday, April 23, 2014, the City Council of San Luis, Arizona unanimously approved a "Development and Protected Development Rights Agreement" which guarantees the necessary local entitlements for development of the first Solar Wind Downdraft Tower in the City of San Luis, AZ. on the site under contract. Having this agreement in place accelerates development enabling the project to produce electricity as early as 2018. More to come on the call
Conference Call Dial-In Instructions:
To participate in this event, dial (877) 709-8150 domestically, or (201)689-8354 internationally approximately five to ten minutes before the call.
Replay the Call Online
Additionally, the Conference Call recording will be available for replay at www.solarwindenergytower.com beginning on Friday, May 9th, 2014, the day after the Conference Call.
About Solar Wind Energy Tower, Inc.
Solar Wind Energy Tower, Inc., and its wholly owned commercializing subsidiary, Solar Wind Energy, Inc., is the inventor of the patented Solar Wind Downdraft Tower which uses state of the art technologies and construction systems to produce abundant, inexpensive electricity, 24 hours a day, 7 days a week. The Company secured the site for its first tower project in the U.S. in the City of San Luis, Arizona and may have its first Tower ready for operation there as soon as 2018. Aside from the development of this Tower, the Company is focused on licensing its development know-how and establishing partnerships at home and abroad to propagate Tower projects and in turn, receive licensing fees for territories, development fees during construction, and recurring royalty fees based on the actual kilowatt hours produced by the Tower. Solar Wind Energy has assembled a team of experienced business professionals, engineering and scientific consultants with the proven ability to bring this solution to market. The Company's core objective and focus is to become a leading enabler of clean, efficient renewable energy to the world communities, at a reasonable cost, without the destructive residuals of fossil fuels, while continuing to generate innovative technological solutions to meet tomorrow's electrical power needs. Solar Wind Energy has filed and been issued patents that the Company believes will further enhance this potentially revolutionary technology. Solar Wind Energy, Inc., based in Annapolis, MD, is traded on the OTCQB under the symbol 'SWET'. For more information visit www.solarwindenergytower.com, www.facebook.com/pages/Solar-Wind-Energy-Tower/ and www.twitter/SWETower.com.
Innovative Renewable Hybrid Solar / Wind Energy Technology
The simplicity of the Company's hybrid solar/wind technology solution is found in its ability to harness the natural power of a downdraft created within the confines of its Tower structure, a hollow cylinder reaching skyward into the hot, dry atmosphere heated by the solar rays of the sun. The water introduced by the injection system near the top of the Tower evaporates and is absorbed by the hot, dry air. The air becomes cooler, denser and heavier than the outside warmer air and falls through the cylinder at speeds up to and in excess of 50 mph. The air is then diverted into wind tunnels surrounding the base of the Tower where turbines inside the tunnels power generators to produce electricity.
The Company has successfully managed to economize the Tower, reducing capital costs and improving projected financial performance. This development was made possible by utilizing the Company's Energy Generation Calculator software, which can calculate and predict energy production of a Tower given a site's local weather data. By feeding the weather data into the program, the Tower's height and diameter can be adjusted along with the amount of water added as fuel to create a desired amount of energy. The outcome dictates the optimum size of the Tower's height and width. Under the most recent design specifications, the first Tower in San Luis, Arizona has a design capacity on an hourly basis of up to 1,250 megawatt hours, gross. Due to lower capacities during winter days, the average hourly output per day for sale to the grid for the entire year is approximately 435 megawatt hours/hr.
Cautionary Note Regarding Forward-Looking Statements
Statements included in this release may constitute "forward-looking statements". Actual results may differ materially from those projected in 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 revenues, if any, 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).