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AWSL's 47.5%-Owned Hybridyne Power Systems Canada Inc. and Change Energy Inc. Execute Promising MOU Press Release
TORONTO--(Marketwire - 12/15/09) - Atlantic Wind and Solar Inc. (Pinksheets:AWSL - News) is pleased to report that its 47.5%-owned Canadian affiliate, Hybridyne Power Systems Canada Inc. (HPSC), has executed a Memorandum of Understanding with Change Energy Inc. (Change), formerly Hydrogen Fleet Innovations, and DMA Technical Services Inc. Objectives of the Memorandum of Understanding The MOU sets the groundwork for an important relationship between the two companies, in which Hybridyne will provide high efficiency Renewable Energy technology and project opportunities, and Change will provide their expertise in the Alternative Fuels industry. The ultimate objective is to combine the companies' respective technologies and expertise to develop uniquely integrated and flexible Renewable Energy & Storage systems. Hybridyne has already proposed to use Change and their expertise in Hydrogen (H2) generation and storage as a supplementary long term energy storage system in a Hybrid Renewable Energy Powered Municipal Sewage Treatment Plant in Northern Ontario. This is believed to be the first fully renewable-powered and completely off-the-grid Hybrid Renewable Energy Powered STP in Canada (and possibly the world). The group has very aggressive ambitions toward much larger systems where H2 would be generated entirely by Renewables, making it a truly "green" fuel and backup energy source. In the Hybridyne announcement, Thomas Cleland, CEO of Hybridyne Power Systems and Chief Technical Officer of Atlantic Wind and Solar Inc., said, "We at HPSC are very excited by this initiative. The H2 systems that Change Energy will provide for and with us will fill an important technology gap in the 'energy storage technology' area within our very large projects, as globally, we move towards truly green power solutions and non-GHG-producing combustible fuels." About HPSC Hybridyne Power Systems specializes in the international engineering sales and turnkey installation of its proprietary hybrid integrated (wind, solar and other dynamic source) renewable energy systems. The Hybridyne System allows commercial and industrial customers to generate some or all of their own low-cost electricity with a large-scale, facility-wide power conditioning system, giving them significant financial savings and energy inflation protection, while freeing them from the concerns of possible blackouts, brownouts and other power problems. Because Hybridyne systems use Renewable Energy, they help customers to significantly reduce their "Carbon Footprint," preventing the release of hundreds of tonnes of greenhouse gasses per year. Upon signing the MOU with Hybridyne, Al Davidson of Change Energy commented, "Our hydrogen technology is a natural fit with Hybridyne's hybrid wind and solar power generation systems. A hydrogen energy storage system will help smooth out the peaks and valleys when the wind isn't blowing and the sun isn't shining." Importantly, when the wind is blowing and/or the sun is shining, Hydrogen will be economically produced using eco-friendly Renewable Energy. Management of Atlantic Wind and Solar Inc. is enthused regarding this collaboration and its potential to establish new and exciting technologies that have global implications for Renewable Energy production and storage efficiencies. About Atlantic Wind & Solar Inc: Through focused management, strong R&D, state-of-the-art proprietary technology, exclusive licenses, and joint ventures, Atlantic Wind & Solar Inc. is poised for rapid growth at the forefront of the massive global shift towards environmentally friendly, economical Renewable Energy. The Company is working with parties in the Real Estate and Property Management sectors in Ontario to secure rooftop leases suitable for AWSL's photovoltaic (PV) renewable energy system. For further corporate information and/or to subscribe for regular news updates from Atlantic Wind & Solar,www.atlanticwindandsolar.com Disclaimer: Shareholders and investors are strongly cautioned against placing undue reliance on information set forth in these communications in making any investment decisions concerning our securities. The matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks are detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission including the company's Annual Report, Quarterly Reports and other periodic filings. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update these forward-looking statements. |
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