SOURCE: Solar Wind Energy Tower, Inc.
ANNAPOLIS, MD--(Marketwired - Apr 30, 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 its swift move to protect its intellectual property and technical approach. On April 10, 2014 the Company filed for protection for Patent Application #13/947,625, titled "Atmospheric Extraction Devices and Methods" under the Patent Cooperation Treaty (PCT), which is an international patent law treaty comprised of 148 countries.
The Company received a Notice of Allowance for its Patent Application #13/947,625, titled "Atmospheric Extraction Devices and Methods and is currently awaiting publication and issuance of this patent in the US. The Application claims are specific to representing the advantages of the Tower's structure and shape, configuration and composition of Tower walls, as well as wall thickness for a given height. In addition, it includes a more efficient construction methodology and enhanced wind force resistance, both improvements over prior Tower designs.
Ron Pickett, CEO of Solar Wind Energy Tower, Inc., stated, "This patent is an important basic component of our overall technological approach and improvements to prior Tower design specs. As we move ahead and execute on our business model and robust international licensing strategy, it is imperative that we protect our intellectual property for the current and future benefit of our Company and our licensees. The PCT affords us the vehicle through which we can selectively and cost effectively apply for patent protection immediately and receive protection within a reasonable time frame. We will also seek protection in countries not affiliated with the PCT when and if necessary."
He added, "Following the approval of our first Tower project in Arizona as announced Monday, we are even more committed to seeing our clean energy generating technology in operation worldwide and confident that it will happen. We will continue to go to great lengths to ensure this vision becomes a reality."
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).