WORCESTER, Mass., Nov. 9, 2012 /PRNewswire/ -- Mass Megawatts Wind Power, Inc. (OTC: MMMW) today announced plans to position itself as an affordable, green-energy supplier in the Northeast region of the United States. The company will offer discounted electrical rates to commercial and residential electricity users in several states, including Connecticut, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, and Illinois. The discounted electrical plans and rates will comply with renewable energy standards and requirements.
Mass Megawatts plans to leverage their alternative energy resources and knowledge of the wind power industry to offer competitive cost savings to electrical users across the Northeast. The electricity plans are expected to be offered at approximately 10% discount over current rates, and will be available to 90% of electricity users in seven states within a few weeks. In addition, future applications of the company's patented, Wind Augmentation System are expected to further reduce the green energy rates offered by the company.
As part of the company's pre-launch efforts, Mass Megawatts started initial marketing efforts in Massachusetts earlier this month. Mass Megawatts indicates that their expansion into the retail electrical market is a logical, strategic progression that diversifies their business model while improving future earnings potential.
In other recent news, Mass Megawatts recently completed a wind augmentation system in Charlton, Massachusetts that utilizes a less complicated and inexpensive wind-focusing technique to increase the wind velocity directed at the turbine by an average of 70%. This accelerated wind speed, in turn, results in a significant, three-fold increase in the electrical power generated by the turbine.
Using horizontal or propeller type turbine blades, the cost per rated kilowatt is projected to be less than $1000 and anticipated to approach $600 in mass production. This compares very favorably with traditional wind power systems that realize a cost of $1500 to $2000 per rated kilowatt.
With its patented, wind augmentation system, a new retail sales business, and very little debt, Mass Megawatts believes it is well positioned to ramp-up production of its new augmentation units in the shorter term while expanding its infrastructure to support mass-production goals in the longer term.
This press release contains forward-looking statements that could be affected by risks and uncertainties, including but not limited to Mass Megawatts Wind Power's ability to produce a cost-effective wind energy conversion device. Among the factors that could cause actual events to differ materially from those indicated herein are: the failure of Mass Megawatts Wind Power, also known as Mass Megawatts Windpower, to achieve or maintain necessary zoning approvals with respect to the location of its power developments; the ability to remain competitive; to finance the marketing and sales of its electricity; general economic conditions; and other risk factors detailed in periodic reports filed by Mass Megawatts Wind Power. Additionally, Mass Megawatts Wind Power stock quote and Mass Megawatts stock price may be impacted by global condition. Mass Megawatts Wind Power Inc. expected and anticipated positive and negative impact on the Mass Megawatts stock price and the MMMW stock quote.
SOURCE Mass Megawatts Wind Power, Inc.