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Clean Wind Energy Provides Shareholder Update, Files Patent Applications - cbl
Posted June 1, 2011
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By Brian Wolak
ANNAPOLIS, Md. -- Clean Wind Energy, Inc. (OTCBB:CWET), which is designing and preparing to develop large "Downdraft Towers" that use natural elements to generate electricity and clean water, said in a shareholder letter recently that it has filed two patent applications ("the first of many") while providing an update about the company's growth.
The Annapolis, Md. cleantech company raised close to $850,000 as citybizlist reported last week, and completed a reverse merger with Superior Silver Mines, Inc. while becoming the surviving public company earlier this year.
In a recent interview with Investorideas.com, Clean Wind Energy's president and CEO Ronald Pickett said his Downdraft Tower "will produce electricity along the same order of magnitude as a traditional nuclear power plant. We will be selling the power from our first Tower into the grid through a power purchase agreement. The Company estimates that at current costs and rates the Tower can generate about $900MM annually before debt service."
Among the updates that Pickett detailed in his letter were:
- Clean Wind Energy's engineering staff is located at its Engineering Office Facility in Warrenton, Va. Part of that team's initial primary focus has been on the company's intellectual property and patent filings.
- Without disclosing the place, the company is working on the first site for a tower and has completed the preliminary engineering for that location.
- One of its patent applications, called Efficient Energy Conversion Devices & Methods, covers multiple turbines in a wind tunnel along with a hydraulic system capable of maintaining high efficiency hydraulic-to-electric conversion under a wide variance of wind speeds.
- The other patent application, Atmospheric Energy Extraction Devices and Methods, applies to aspects of the external design and physical structure of the tower which augment the wind power within the internal tube of the tower.
Clean Wind Energy's Downdraft Tower is a round hollow cylinder that captures hot, dry air. Mist is sprayed across the top of the tower, making the dry air heavy enough to sink to the bottom while creating wind forces of approximately 50 MPH. Tunnels at its base allow the wind to exit while turbines are aligned in the tunnels to spin and drive generators to produce electricity.
SEC filing: http://tinyurl.com/3rm225h
Also at citybizlist, see:
Clean Wind Energy Tower Raises $849K - cbl
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