SOURCE: Solar Wind Energy Tower, Inc.

July 15, 2013 16:10 ET

Solar Wind Energy Tower, Inc. Receives Equity Facility Agreement Commitment of $3,000,000

ANNAPOLIS, MD--(Marketwired - Jul 15, 2013) - Solar Wind Energy Tower, Inc. (OTCQB: SWET) (the "Company"), the inventor of a large Solar Wind Downdraft Tower structure capable of producing abundant, inexpensive electricity, announced today that it has received a commitment from Beaufort Ventures, PLC to fund up to $3,000,000 over a period of up to 36 months under the terms of an Equity Facility Agreement.

Ronald Pickett, CEO, commented, "Solar Wind Energy is rapidly approaching a turning point where all of the valuable research and intellectual property advancements will be deployed in direct pursuit of its first Solar Wind Energy Tower project. We are pleased to have obtained this $3,000,000 commitment, which is necessary to support the first project."

Recently the Company announced in a letter to its shareholders that its proprietary "Energy Calculator" program can analyze and predict the size and output of a Tower project at specific locations around the globe. The Company is now completing the construction budgeting process for the Tower which, when used in combination with the Energy Calculator program, will allow the developer to evaluate the full cost of development and sale of power in order to equate the outcome to cost per kilowatt hour (kWh).

"We have made educated assumptions for some time now that the Tower could produce electricity for at least half the cost of any other alternative energy solution on the market today," Ronald Pickett added. "Combining the Energy Calculator data with a budget prepared in conjunction with our 3rd party expert 'Teaming Partner' will validate the constructability and financial viability of our solution and paves the way for a true turning point!"

About Solar Wind Energy, Inc.
Solar Wind Energy, Inc. ("Solar Wind Energy"), a wholly owned subsidiary of Solar Wind Energy Tower, Inc., was established to commercialize a number of proven, validated technologies and construction systems into a single large Solar Wind Downdraft Tower structure that produces abundant, inexpensive electricity. Our Company's core objective and focus is to become a leading provider of clean, efficient green energy to the world communities, at a reasonable cost, without the destructive residuals of fossil fuels, while continuing to generate innovative technological solutions for tomorrow's electrical power needs.

Innovative Renewable Hybrid Solar / Wind Energy Technology
We view ourselves as a hybrid solar/wind technology, reflected in the name, Solar Wind Energy Tower, Inc. The simplicity of our solution is comprised of harnessing the natural power of a downdraft created within the confines of our Solar Wind Downdraft 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 and is diverted into wind tunnels surrounding the base of the Tower where turbines inside the tunnels power generators to produce electricity.

Abundant, Clean, Affordable Electricity Production
The Company has successfully managed to downsize and economize the Tower, reducing capital costs and improving projected financial performance. Solar Wind Energy Tower recently announced the completion of weather data models that confirm that the first tower height can be lowered from 3,000 feet down to 2,250 feet. This development was made possible by utilizing our recently announced software which can calculate and predict energy production by our Solar Wind Downdraft Towers given 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 San Luis Tower has a design capacity on an hourly basis, of up to 1,250 megawatt hours, gross. Using a 60% capacity factor, the Tower's potential hourly yield would be 600 megawatt hours from which approximately 18.5% will be used to power its operations, yielding approximately 500 megawatt hours available for sale to the power grid. Due to lower capacities during winter days, the average daily output for sale to the grid for the entire year is approximately 435 megawatt hours.

In addition to constructing Solar Wind Downdraft Towers in the United States and abroad, the Company intends to establish partnerships at home and abroad to propagate these systems and meet increasing global demand for electricity. Solar Wind Energy has assembled a team of experienced business professionals, engineering and scientific consultants with the proven ability to bring the idea to market. 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

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).

Contact Information

  • Contact:
    Solar Wind Energy, Inc.
    1997 Annapolis Exchange Parkway
    Suite 300
    Annapolis, Maryland 21401
    Phone: 410-972-4713

    Investor Relations
    Scott Arnold
    Phone: (310) 497 8817