ANNAPOLIS, Md., Oct. 10, 2012 /PRNewswire/ -- Clean Wind Energy Tower, Inc. (OTCBB: CWET, the "Company") announced today that KROLL CRANES A/S and TOWER CRANES OF AMERICA, INC. each have acquired 1,000,000 shares of CWET common stock. KROLL and TCA are determined to provide continued support in the development of the largest Downdraft Tower in the world utilizing its cranes and help guide the project success to completion.
Ronald W. Pickett, President and Chief Executive Officer stated "Kroll Cranes is a key component in the development and construction of the CWET Downdraft Tower, which could never have been built until the emergence of the modern crane technology used by Kroll. Our relationship with Kroll Cranes will enable the construction of large "Downdraft Towers", that operate with virtually no carbon footprint, fuel consumption, or residual waste, to generate abundant electricity and clean water economically."
N.P. Sorensen, Technical Sales Manager of Kroll Cranes A/S stated "We can confirm the constructability of the Tower using novel combinations of known and proven methods. Kroll is an enthusiastic supporter of the Clean Wind Energy Tower project and wanted to become a stockholder in CWET."
About Kroll Cranes
Kroll Cranes A/S, a member of the Muhibbah Engineering Group, is situated in Denmark on the outskirts of Copenhagen. The company has had over 40 years of experience in Tower Crane design and manufacture, supply, trade, lease, and servicing of offshore oil and gas pedestal cranes, tower cranes, shipyard cranes, and other heavy lifting equipment cranes. Kroll produces the largest tower crane in the world, which is two times larger than the second largest tower crane in the world, which Kroll also produces.
About Muhibbah Engineering
Muhibbah Engineering (M) Bhd., incorporated in 1972 and is headquartered in Klang, Malaysia Engages in infrastructure, civil and structural engineering contract works in Malaysia and internationally. The company's Infrastructure Construction segment involves the construction of petroleum hub and bunkering facilities, oil and gas terminals, liquefied natural gas jetty works, marine ports, bridges and dams, airport terminals, runway and facility support buildings, heavy concrete foundations, and other similar construction works.
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.
Abundant, Clean, Affordable Energy
As designed, the Company anticipates that each Downdraft Tower could generate enough electricity to power up to 1,000,000 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 1,200 megawatt hours of salable electricity to the grid - one megawatt equates to 1,000,000 watts or 1,000 kilowatts of electricity. Currently, average costs per kilowatt in California are running approximately $0.11/kilowatt hour. Power sales at $0.11/kilowatt hour, from a plant capable of generating 1200 megawatt hours of power, averaging 750 megawatt hours per hour of production, could generate in excess of $700 million annually in power sales.
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 Energy, Inc. has been awarded their core patent and has additional patents pending 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.
Clean Wind Energy, Inc.
1997 Annapolis Exchange Parkway
Annapolis, Maryland 21401
Phone: (855) 848-6937
Cautionary Note Regarding Forward-Looking Statements
Information 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.