South American Group to Use Multi-Axis Wind Turbines

Shrewsbury, Massachusetts – November 19, 2002 [] Winrock Financial Services, Ltd., a South American environmental group, has chosen Mass Megawatts’ “Multi-Axis Turbosystem” (MAT) to provide 25 MW of power capacity at the company’s titanium processing facility in Columbia. The MAT system is a patented, wind energy conversion device that is capable of generating electricity at 2.5 cents per kWh at an average annual wind speed of 16 miles per hour. This cost is 40 percent below traditional wind turbine technologies, and is directly competitive with fossil fuel power plants such as coal and natural gas, according to the company. The 25 MW wind energy plant will be comprised of 56 MAT units, each rated at 360 kW. The MATs will be constructed over a 18 month period beginning in the first quarter of 2003. Winrock Financial Services will be utilizing its own staff engineers and laborers to assist with power plant construction. Based on a typical Colombian selling price of US$.12 per kWh, a 25 MW energy plant would generate US$6.7 million of revenues for Winrock Financial.
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