ANNAPOLIS, Md., Feb. 27, 2012 /PRNewswire/ -- Clean Wind Energy Tower, Inc. (OTCBB: CWET, the "Company") announced today that the Company's presentation was well received by a large audience at the National Investment Banking Association (NIBA) Conference held on February 23-24, 2012 at the Le Pavillon Hotel in New Orleans, Louisiana. The NIBA Conference attendance was drawn from its invited guests and their multinational membership representing over 8,800 registered reps with an estimated $78BB in assets under management.
The highlights of the Company's presentation given by Ronald W. Pickett, President and CEO, included an overview of the development of their Downdraft Tower featuring their innovative Renewable Energy Solution. Mr. Pickett also discussed the Company's recent announcement to lease a substantial parcel of property located in the southwestern United States, suitable for the development and construction of a Downdraft Tower as well as their Notice of Allowance of its patent application titled Efficient Energy Conversion Device Methods that maximizes the capture and use of available wind tunnel energy.
Mr. Pickett stated: "We were honored to be invited once again by NIBA to present our Company and we are very enthusiastic about the interest this year's Conference generated in Clean Wind Energy Tower, Inc. Our platform presentation and Q&A sessions were very well received by attendees wanting to learn more about the execution of our business model."
Abundant, Clean, Affordable Energy
As designed, the Company anticipates that each Downdraft Tower could generate enough electricity to power up to 1,600,000 homes using the guidelines set forth in the California Statewide Residential Appliance Saturation Study, 2004. As an independent power producer of clean renewable energy, the Company will not be selling power directly to consumers but rather to the grid. As currently designed, the Company anticipates that each Downdraft Tower will be capable of generating 1,100 megawatts per hour of salable electricity to the grid. One megawatt equates to 1,000,000 watts or 1,000 kilowatts of electricity. Currently, avoided costs per kilowatt in California are running approximately $0.11 per kilowatt hour.
About Clean Wind Energy, Inc.
Clean Wind Energy, Inc., a wholly owned subsidiary of Clean Wind Energy Tower, Inc., has designed and is preparing to develop, and construct large "Downdraft Towers" that use benevolent, non-toxic natural elements to generate electricity and clean water economically by integrating and synthesizing numerous proven as well as emerging technologies.
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 fuel, while continuing to generate innovative technological solutions for today and tomorrow's electrical power needs. In addition to constructing 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 clean water and electricity. Clean Wind has assembled a team of experienced business professionals, engineering and scientific consultants with access to the breakthrough energy research upon which this technology is founded and the proven ability to bring the idea to market. Clean Wind has filed several patents that the Company believes will further enhance this potentially revolutionary technology. Clean Wind Energy, Inc. is based in Annapolis MD, and is traded on the OTCBB under the symbol 'CWET'. For more information, please visit www.cleanwindenergytower.com.
Phone: (855) 848-6937
Cautionary Note Regarding Forward-Looking Statements
Statements included in this release may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. 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 net revenues 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).
SOURCE Clean Wind Energy Tower, Inc.