Mass Megawatts Wind Power, Inc. Launches Effort with Goal of Reaching First Profitable Quarter in 15 Year History During 2013
WORCESTER, Mass., April 29, 2013 /PRNewswire/ -- Mass Megawatts Wind Power, Inc. (OTC: MMMW) today launched an effort to be profitable in Fiscal Year Ending April 30, 2014. A good portion of the goal is contingent on the successful marketing of electricity at a deep discount in targeted geographical areas. In some local areas, Mass Megawatts can sell electricity at less than half the price offered by the local utility. Much of the effort of reaching the goal is based on a revenue matching program from Independent Energy Associates working with Mass Megawatts in an effort to obtain customers.
Mass Megawatts is leveraging their knowledge of the wind power industry in their offering of competitive green power to electrical users across the Northeast. The 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 that utilizes a less complicated and inexpensive wind-focusing technique to increase the wind velocity directed at the turbine. This accelerated wind speed, in turn, results in a significant increase in the electrical power generated by the turbine. The technology is anticipated to allow substantial reduction in the cost of green electricity.
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. The Company has less than 25 million shares issued and outstanding.
This press release contains forward-looking statements that could be affected by risks and uncertainties. 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.