SOURCE: Solar Wind Energy Tower, Inc.

October 14, 2014 08:00 ET

Solar Wind Energy Tower, Inc. Reiterates AZ Tower Specifications, Proprietary Technology and Disclosure Policies

ANNAPOLIS, MD--(Marketwired - Oct 14, 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 reiterated several fundamentals related to its business including San Luis, AZ Tower specifications, its proprietary technology and disclosure policies to better educate and inform current investors and/or those considering an investment.

San Luis, Arizona Tower Project
The City of San Luis has committed to supply the project with its estimated water needs annually for a minimum of 50 years. The supply agreement will utilize less than five percent or 1/20th of the City's total allocation. Given this small fraction, there is no reason whatsoever to dispute that San Luis can't fulfill this commitment.

The Energy Tower
The Company's Downdraft Tower is designed to be 2,250 feet tall. On a global scale, taller structures have already been built and/or are under construction. The Tower is a hollow "thin walled" concrete building. Unlike high rise office and/or residential facilities which require fire protection, bathrooms, ADA compliance, elevators, HVAC, and other mechanical and safety devices, the Tower is a simple structure when compared to a typical commercial or residential high rise structure. The structure is based on standard hyperbolic shape construction techniques, and the construction cost estimates are from world class, globally recognized contractors who are ready and willing to complete the Tower Project for their quoted prices which are well within the Company's budget.

Energy Calculator
Solar Wind Energy's "Proprietary Energy Calculator" formula is 11 pages long -- comprised of detailed "known and accepted" algorithms. It is kept completely confidential, under "lock and key," and has not been published by anyone outside of the Company. Representation by anyone outside of the Company that they have access to or can quote these propriety formulas is completely false and without merit.

National Standard Finance LLC
The Company and National Standard Finance LLC, whom work together under a confidential Non-Disclosure Agreement which allows the sharing of confidential non-public information, enjoy an excellent working relationship. As relates to the Arizona Tower project, the Company is working on meeting the conditions necessary to close the financing with National Standard. It is not the policy, nor is it within the scope of their NDA, for business developments related to the financing of this project to be shared with the public, at any time. Should that policy change, shareholders and the public will be informed.

Ronald Pickett, CEO, Solar Wind Energy Tower, Inc., commented, "While the most accurate and up-to-date information on our Company is either currently available on our website and/or previously disclosed in a public statement, we understand that irresponsible false and misleading statements from certain parties can run rampant on the Internet and result in confusion for our current shareholders, and those considering investment."

He continued, "The Company is committed to maintaining transparency and eliminating confusion wherever and whenever possible and suitable. The Company has recently emerged from a period during which we were unable to provide as much transparency as I would have liked. Fortunately with that milestone now behind us, we look forward to sharing our business fundamentals and progress with our investors in an orderly fashion that respects all of our partners involved in bringing this Tower to fruition. The absence of information related to progress of the Company financing agreement with National Standard should not be taken as a lack of progress, but rather a sign of our commitment to National Standard and to our shareholders to get this project off the ground. The information provided above should reiterate and clarify this, as well as provide more color on our AZ Tower's specifications and the proprietary technology that allows us to forecast how our Towers will do in environments across the globe. As always, we're committed to transparency and encourage that any questions be addressed to"

The Company appreciates the feedback it is getting from its current and potential shareholders and trusts this information will clear up any and all inaccuracies.

About Solar Wind Energy Tower, Inc.
Founded in 2010, 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, and the Energy Generation Calculator software which can calculate and predict energy production of a Tower given a site's local weather data. The Company secured the site for its first Tower project in the U.S. in the City of San Luis, Arizona which may be ready for operation as soon as 2018. 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. The Company is also focused on licensing its development know-how and establishing partnerships at home and abroad to propagate Tower development projects in return for 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 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 Tower, Inc., based in Annapolis, MD, is traded on the OTCQB under the symbol "SWET'.

For more information visit http://www.solarwindenergytower.com and www.twitter/

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