ANNAPOLIS, Md., Jan. 31, 2013 /PRNewswire/ -- Clean Wind Energy Tower, Inc. (OTCBB: CWET), (the "Company") announced today that the Company has been selected as a semi-finalist at the Future Energy Pitching Event at the ARPA-E Energy Innovation Summit in Washington D.C. on Monday, February 25, 2013. A total of eight startups will be selected to present from over 300 applicants. Six of these eight will be hand-picked by the ARPA-E Selection Committee. The remaining two pitch slots will be awarded to the two startups that get the most votes on the ARPA-E crowd-voting platform. All eight startups get to present in front of a panel of top venture capital investors and the entire ARPA-E Summit (over 2,500 attendees).
The ARPA-E Energy Innovation Summit is the premier event dedicated to transformative energy solutions. This unique event brings together thought leaders from academia, business, and government to discuss cutting-edge energy issues and facilitate relationships to help move technologies into the marketplace. The Summit's strategic combination of leaders makes it the perfect forum for developing energy solutions that will enable America to out-innovate its global competitors.
Ronald W. Pickett, CEO, stated, "It is an honor for our Company to be recognized for the innovative characteristics and environmental benefits of our technology solution and a privilege to compete for the opportunity to present at this distinguished ARPA-E Energy Innovation Summit."
Please cast your vote for our Company to be selected as one of the two startup companies receiving the most votes to make a formal presentation at the Energy Innovation Summit in Washington D.C.
Click on this hyperlink to vote: http://cleanwindenergytower.com/contact.html
Hybrid Solar / Wind Technology
Solar Wind Energy Tower, Inc. is referenced throughout the new Company profile for the ARPA-E Project. The Company is in the formal process of changing the corporate name to Solar Wind Energy Tower, Inc., from Clean Wind Energy Tower, Inc. in an effort to eliminate the confusion of associating our technology with traditional wind turbine technology. We view ourselves as a hybrid solar/wind technology, now reflected in the name, Solar Wind Energy Tower, Inc. The simplicity of our solution is comprised of the harnessing of the natural power of a downdraft created when water is introduced to hot dry air within the confines of our Tower structure. The website for SWET is currently under construction. Future CWET website traffic will be routed to the new SWET site upon launch.
The U.S. Department of Energy's Advanced Research Projects Agency-Energy (ARPA-E) has hosted the Energy Innovation Summit for the past three years. It brings together the nation's most innovative minds to team together on potential breakthroughs in energy technologies.
ARPA-E funds transformational projects that create entirely new ways to source, distribute, and use energy. Its unique approach combines world-class Program Directors with multi-disciplinary teams to identify promising solutions to the nation's most critical energy problems. By leveraging the best practices of academia, business, and government, ARPA-E can fast-track new innovative technologies toward the marketplace. This push for innovative technologies is critical to securing the nation's global technology leadership.
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 and operate with virtually no carbon footprint, fuel consumption, or residual waste to generate electricity and clean water economically by integrating and synthesizing numerous proven as well as emerging technologies. This technology will generate clean, cost effective and efficient electrical power without the damaging effects caused by using fossil or nuclear fuels, and other conventional power sources.
Downdraft Tower Will Produce Abundant, Inexpensive electricity
The Company has successfully managed to downsize the Tower-reducing capital costs and improving projected financial performance. The Company recently announced the completion of weather data models that confirm that the first tower height can be lowered from 3,000 feet down to 2,250 feet. This development was made possible by utilizing our recently announced software which can calculate and predict energy production by our Downdraft Towers given local weather data. By feeding the weather data for southwestern Arizona / northern Mexico into the program, the Tower's height and diameter can be adjusted along with the amount of water added as fuel to create a desired amount of energy. The outcome dictates the optimum size of the Towers height and width.
Under the most recent design specifications the first Tower, located in San Luis, Arizona, has a projected output capacity, on an hourly basis, of up to 1,000 megawatt hours, gross. Using a 70% capacity factor the Tower's potential hourly yield would be 700 megawatt hours from which, approximately 17% will be used to power its operations, yielding approximately 600 megawatt hours available for sale to the power grid. Currently, in California avoided costs are running approximately $0.11 per kilowatt hour. As an independent power producer of clean renewable energy, the Company will not be selling power directly to consumers but rather to the grid.
The Company's core objective and focus is to become a provider of clean efficient green energy to the world communities at a reasonable cost without the destructive residuals of fossil fuel, and to help broker the chasm between both, 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, engineers and scientists 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 Energy, Inc. 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 visit www.cleanwindenergytower.com
Clean Wind Energy, Inc.
1997 Annapolis Exchange Parkway
Annapolis, Maryland 21401
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.