SOURCE: Solar Wind Energy Tower

August 17, 2015 08:30 ET

Solar Wind Energy Tower Provides Arizona Tower Project Update

ANNAPOLIS, MD--(Marketwired - August 17, 2015) - Solar Wind Energy Tower, Inc. (OTCQB: SWET) (the "Company"), the innovator and creator behind the Solar Wind Downdraft Tower structures capable of producing abundant, inexpensive electricity to meet the world's increasing demand, today issued an update on the execution of Company's Business Plan and development of its Tower project in San Luis, Arizona.

Since inception, the focus of the Company's Business Plan has been to secure the proprietary and intellectual property necessary to enable the development of our hybrid solar-wind clean energy solution- the utility scale downdraft Tower. SWET's revenue model is based on charging developmental fees to potential developers of the Towers and the receipt of long term recurring royalties defined by the amount of energy produced by the Towers.

The Company assembled a world-class team to pursue its Business Plan and achieve the necessary patents to facilitate the successful development of its Towers.

Once the initial Tower is constructed, it will be a source of abundant, economically competitive clean power. Management is confident that the potential global market for this Tower is and will remain tremendous, and represents, as initially planned, a significant business opportunity for our shareholders.

Through its subsidiary Arizona Green Power, LLC (AGP), SWET has been diligently pursuing and contributing a significant amount of resources, both manpower and capital, to the development of its first Tower project in San Luis, AZ - AGP Tower Project. The Business Model objective is for AGP to acquire all of the necessary approvals for the Tower Project and identify an appropriate teaming partner to develop the project, thereby insuring that, in exchange for the rights to use the Company's intellectual property and proprietary know-how to develop Tower(s), SWET will receive the appropriate development and royalty fees.

Ron Pickett, CEO of SWET commented, "We believe sufficient accomplishments and entitlements are in hand to enable us to attract an entity to team with AGP and provide the necessary resources to pursue the development of the San Luis, AZ Tower Project. Last week, we announced the engagement of Hanover International to vet the potential market and introduce SWET to the appropriate Banker(s), and to assist the Company with defining its place in the market. Hanover diligently undertook the vetting process and introduced SWET to many interested potential Bankers and our selection process is now complete. Through its Banker, AGP is seeking sufficient capital to pay SWET the Development fee and take the San Luis project to commencement of construction. Transferring the development responsibilities to AGP will satisfy the capital requirements for SWET and eliminate the need for SWET to continue short term convertible note borrowings. We are proud of the accomplishments to date, including issued patents, which clearly pave the way to the successful development of Towers that will provide abundant power that is economically competitive. Management is confident that the potential global market for our solution is tremendous and represents, a significant business opportunity for our shareholders."

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.

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.

For more information, please visit:
http://www.solarwindenergytower.com, and https://www.facebook.com/solarwindenergytower and https://twitter.com/SWETower

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 Tower, Inc.
    Phone: 410-972-4713
    E-mail: info@SWETower.com