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Mass Megawatts NewsMass Megawatt Licensee Announces $10,800,000 ContractWORCESTER, MA., February 3, 2010 /PRNewswire-FirstCall/ -- Mass Megawatts Wind Power, Inc.(OTC bulletin Board: MMGW.OB ) , a Worcester, Massachusetts based Company, announced that a licensee, Electric City Wind Power Corporation, has signed a $10,800,000 agreement with Penobscot Mountain Wind, LLC, a wind power energy development group focused on distributed energy projects in Northeastern Pennsylvania. Distributed energy projects are based on localized energy production and distribution, a strategy that is one of key underpinnings of the national 'Smart Grid' initiative. The sales agreement between Electric City Wind Power and Penobscot Mountain Wind entails the manufacture and installation of a total of 6 megawatts of the Multi-Axis Turbo System vertical wind power generation equipment, which Electric City produces under a licensing agreement with Mass Megawatts. Under the terms of the agreement Penobscot Mountain Wind has the right to apportion its 6 MW equipment purchase into a number of individual projects, with a minimum nameplate capacity of any given project being 500 kW. Dr. Mark Puffenberger, MD, a managing partner of Penobscot Mountain Wind, related in a prepared statement that "Although we negotiated the right to have Electric City install projects for Penobscot below a megawatt in size, we're already well into discussions with counterparties for power purchase agreements where the requirements are two megawatts or greater. We also have talks underway for turnkey projects, where Penobscot Mountain will sell the completed wind power facility to a third party that has the prerequisites to engage in megawatt-sized net metering, while we stay on as the managing operator for the course of the facility's commissioned service. The reality is that we expect to have the 6 megawatts of capacity committed to projects very shortly, and Penobscot Mountain Wind is already back at the table with Electric City Wind Power to work out terms on a second equipment and installation purchase agreement. We're focusing our efforts on the 1 to 2 megawatt customers which fit well with the Mass Megawatts Multi-Axis Turbo System technology." Hamlin, Pennsylvania based attorney Michael Walker, also a managing partner of Penobscot Mountain Wind, LLC, released a separate statement in which he said, in part, that "Mass Megawatts' MAT technology has allowed us to bring the missing piece to the table that has kept community based wind power projects from moving forward. The MAT wind power generation system is below 75 feet in height, noise-free, and doesn't harm migratory birds. A number of municipalities have viewed a presentation by Electric City Wind Power and responded very favorably. Obviously, we're pleased that the timing of our agreement with Electric City Wind Power coincides with Mass Megawatts' introduction to the market of the new version of the MAT technology. Our projects will feature the newly introduced Augmenter System and other technology. It's an extremely exciting product and we have a customer base that is clamoring for it." Christopher T. Powell, Electric City's Corporate Counsel, cited the far reaching regional economic benefits that distributed energy model strategies, such Penobscot Mountain Wind's development plan, will have in Northeastern Pennsylvania. "Development groups like Penobscot Mountain are going to create a localized wind energy economy that keeps the benefit and the dollars generated by projects within the region, allowing municipalities, school districts and businesses to save huge sums on electricity over the years, while, at the same time creating a revenue basis that stays local and creates permanent manufacturing and installation jobs that can't be exported out of our mountain counties." Electric City Wind Power's Vice President of Sales, John Moran, told listeners in a recent investor's conference call that "The new version of the MAT and Augmenter Systems provides a technology platform that allows for the placement of projects in regions with medium grade wind resources, greatly expanding the geographic foot print into which viable commercial and community based wind projects can be sited." This ability to profitably operate wind power projects in areas that previously had not been considered to have an exploitable resource will allow for a tremendous increase in the number of businesses, municipalities, and school districts that can adopt distributed energy models based on medium grade wind resources. Developers such as Penobscot Mountain Wind, LLC and other groups that are in the process of forward purchasing allotments of MAT equipment are well positioned to engage in a design-build model, delivering turn-key wind power projects. This press release contains forward-looking statements that could be affected by risks and uncertainties, including but not limited to Mass Megawatts' ability to produce a cost-effective wind energy conversion device. Among the factors that could cause actual events to differ materially from those indicated herein are: the failure of Mass Megawatts Wind Power, Inc. to achieve or maintain necessary zoning approvals with respect to the location of its power developments; the ability to remain competitive; to finance the marketing and sales of its electricity; general economic conditions; and other risk factors detailed in periodic reports filed by Mass Megawatts Wind Power, Inc. Contact: Jon Ricker (508) 751-5432 Mass Megawatt Licensee Announces $5,800,000 ContractWORCESTER, MA., November 20, 2009 - Mass Megawatts Wind Power, Inc. (OTC Bulletin Board: MMGW) announced today that a Pennsylvania based licensee, Electric City Wind Power Corp had executed a $5,800,000 agreement with John Gianacopoulos, principal of a leading architectural firm, who heads a consortium of wind power investors from the Scranton area. The parties had previously signed a letter of understanding, and Electric City Wind Power Corp announced on November 20th that a contract been signed with the Gianacopoulos' group in order to secure 2010 manufacturing and delivery schedules for the wind power generation equipment covered by the contract according to Attorney Chris Powell, a senior partner of the Scranton, PA based Powell Law who represents Electric City Wind Power Corporation. Under the terms of the agreement, Mr. Gianacopoulos and his investors will purchase a total of 3 Megawatts of Mass Megawatt's Multi-Axis Turbosystem (MAT) equipment which will be installed as a series of wind power projects to be sited in northeastern Pennsylvania. The projects will be sized from 500 kW to 1 MW in nameplate capacity. In a statement previously released to the media, Gianacopoulos had pointed out the opportunities that his group was seeking to capitalize on, saying, in part, that "The Scranton Wilkes-Barre corridor has a very unique combination of a large, localized demand for electricity sitting in close proximity to an abundant wind resource. Many of our Valley's windy ridgelines sit within a mile or so of huge consumers of electricity, be they businesses, schools, hospitals or government facilities. We've developed a distributed energy model that speaks to creating varied strategic partnerships between wind power investors and electricity consumers, partnerships that leverage the generous Federal and state subsidies and tax benefits, while utilizing Pennsylvania's net metering law, which is the most progressive in the country. "Working with Mass Megawatts and Electric City allowed for us to bring the one element to the table that has kept us from moving forwards, which was the lack of a wind power technology that was acceptable to the communities of the region. Mass Megawatt's MAT wind power generation system is below 50 feet in height, and local municipalities that have had Electric City Wind Power provide presentations on the system have had an extremely favorable reaction. "We're also pleased that the timing of our agreement with Electric City Wind Power coincides with the coming to market of the latest generation of the MAT technology. All of our projects will feature the newly introduced enhancements. I fully expect that we will have the full 3 Megawatt's worth of projects committed within the next few months, and we'll be back talking with Electric City to seek additional capacity, with the same pricing structure, of course." Mass Megawatts has completed the installation of the first commercialized version of the Company's new model at Hunter, New York. Over the past 18 months the Company's engineering team has been designing and field testing a new MAT configuration that allow for enhancements to the Augmenter equipment to be incorporated into the overall system. Additionally, the Company's recently developed Wind Diffuser (patent pending) will be installed on the Hunter Project. The power curve on the new MAT System is projected to be higher than that of the previous version of the technology. John Moran, a senior sales executive with Electric City Wind Power, who served as the Company's lead negotiator in the talks that led to the agreement with Ginanacopoulos, had explained to attendees at a company sponsored renewable energy conference in August that "The new version of the MAT and Augmenter is going to allow for highly efficient commercial and community wind projects to be sited in lower wind areas. This will expand the viable wind resource footprint into areas that contain an unlimited number of prime candidates for distributed energy wind power projects. "Our net metering law in Pennsylvania allows for 'virtual' net metering within a two mile radius of an owner's renewable energy generator. In essence, this means that Mr. Gianacopoulos and his group are well positioned to engage in a design-build model, delivering turn-key wind power projects for businesses and organizations in the region. Obviously, this is a model that will be successful throughout Pennsylvania." Frank Smollon, Electric City Wind Power Corp's CEO, commenting on the agreement with the Gianacopoulos group, stated that 'The execution of the agreement with John Giancopoulos and his group is a testament to the technology we're bringing to market. Our negotiations with a number of other organizations in Pennsylvania who are intent on developing wind power projects are taking advantage of the same alignment of positive elements that John Gianacopoulos recognized; Federal and state subsidies totaling up to 40% of a project's cost, the right to completely depreciate a project in 5 years, net metering that pays close to retail cost for any excess generation, and, of course, the willingness of communities to embrace the MAT's equipment's low height. " This press release contains forward-looking statements that could be affected by risk factors and uncertainties, including but not limited to the ability to produce a cost-effective wind energy conversion device. Among the factors that could cause actual events to differ materially from those indicated herein are: the failure to achieve or maintain necessary zoning approvals with respect to the location of its MAT power developments; the ability to remain competitive; to finance The marketing and sales of its electricity; general economic conditions; and other risk factors detailed in periodic reports filed by Mass Megawatts Wind Power, Inc. and other related information. Contact: Jon Ricker (508) 751-5432 Arthur B Berry III, Owner of Camelback Ski Resort, Takes Stake in Mass Megawatts’ Licensed Pennsylvania CompanyWORCESTER, MA., May 21, 2009/ PRNewswire-FirstCall/ -- Mass Megawatts Wind Power, Inc. (OTC Bulletin Board: MMGW.OB) announced today that Arthur B. Berry III, President and principal owner of Camelback Mountain Resort located in Tannersville, and situated in the heart of Pennsylvania’s Pocono Mountains, had taken an equity position in Electric City Wind Power Corp., a licensed manufacturer of the Mass Megawatts MAT (Multi-Axis Turbosystem) wind energy generator. As with any major ski operation, Camelback Mountain Resort, has major electricity demands and locations with high wind velocity. For those reasons, Mr. Berry has been exploring a wind power solution for some time. He has been in direct discussions with Mass Megawatts for a number of months regarding MAT technology, and his investment in Electric City Wind Power has been taken as sign by industry watchers that these talks have been ratcheted up to a new level. An independent ski industry consultant estimated that Camelback could easily require up to 3 Mega watts of wind power equipment. Mass Megawatts Wind Power, Inc. is a major shareholder in Electric City Wind Power Corp and receives a 10% licensing fee on all of the Electric City’s sales volume. At a recent Electric City Wind Power Shareholder’s Meeting, Mr. Berry spoke to the fact that there were over 20 ski resort operators in Pennsylvania, and that he fully expected to see the industry as a whole to begin to adopt wind power as a solution to ever increasing electricity prices. CBH20, a firm headed by Mr. Berry, purchased Camelback in June of 2005 for $48,000,000, and since the acquisition a continuing progression of projects, with a total cost of over $120,000,000, ranging from a mega water park to a 420 room hotel, have been underway at the resorts 375-acre site. With multi-generational roots in the Poconos, Mr. Berry has been one of the major forces for the region’s continued revitalization, serving as an economic leader and booster for the area’s commercial and industrial development. Many of the business and political leaders of Northeast Pennsylvania consider Art Berry’s drive and presence to have been pivotal in the revival of the area’s reputation as a prime destination. Attorney Christopher T. Powell, Electric City Wind Power’s counsel and a senior partner in Powell Law of Scranton, Pennsylvania, commented that “A lot of very influential people regard the continuing intelligence and energy put out by Art Berry as to have been the tipping point in bringing the Poconos back to being one of the Northeast United States’ favorite vacation spots, and a great place to do business. You have to hand it to him.” John Moran, a senior sales executive and shareholder with Electric City Wind Power, related the following when asked to comment upon Mr. Berry’s investment in the Company. “Arthur Berry is probably the most genuine person I’ve ever known. We’re truly excited to have him join the Company, and are happy to have someone with such deep knowledge and experience in the ski resort industry to serve as a valued advisor as we begin to bring the MAT technology to that huge market space.” This press release contains forward-looking statements that could be affected by risks and uncertainties, including but not limited to Mass Megawatts Wind Power, Inc. ability to produce a cost-effective wind energy conversion device. Among the factors that could cause actual events to differ materially from those indicated herein are: the failure of Mass Megawatts Wind Power, Inc. to achieve or maintain necessary zoning approvals with respect to the location of its MAT power developments; the ability to remain competitive; to finance the marketing and sales of its electricity; general economic conditions; and other risk factors detailed in periodic reports filed by Mass Megawatts Wind Power, Inc. Mass Megawatts Announces $1.1 Million Pennsylvania Project SaleWORCESTER, MA., April 17, 2009/ PRNewswire-FirstCall/ -- Mass Megawatts Wind Power, Inc.(OTC Bulletin Board: MMGW.OB) today announced the sale of a 550 kW wind power project priced at $1.1 million to a Pennsylvania wind power development company. Electric City Wind Power Corporation, the group purchasing the MATS wind power project, is based in Pittson, PA, which is located between Scranton and Wilkes Barre. This latest sale of the newly enhanced MAT technology comes on the heels of a $1 million 500 kW wind power project sold by Mass Megawatts to Catherine and Daniel Donnelly, principals of Donnelly Mechanical, the major New York City based HVAC and mechanical provider. Christopher T. Powell, a senior partner in Powell Law of Scranton, Pennsylvania, who represented Electric City Wind Power in its negotiations with Mass Megawatts, released a statement on Monday, April 13th, that read, in part, “The 600 kilowatt wind power generation project agreement, along with the strategic partnership between Mass Megawatts and Electric City Wind Power, signify a turning point in wind power development here in the Commonwealth. Pennsylvania has a tremendously rich wind power resource stretching across the breadth of the state, with the potential of 38,000,000 Megawatt hours per year of clean electricity generation.” “Electric City Wind Power was the brainchild of a large group of regional business leaders and interests who have deep social and economic roots that run from Scranton to Pittsburg and back to Harrisburg. A number of them are major players in the natural gas industry, and they had been engaged in discussions with a number of wind turbine vendors over the course of time.” “Their desire to enter the wind power industry was based on some fairly simple, yet elegant logic. With over 60,000 acres of land under lease for natural gas extraction, including thousands of acres rated at Category 3 Wind Classification or better, it was a natural evolution of their business model to enter the wind energy business. They see a ready made market for the installation of a tremendous load of wind generated electricity over the coming years in partnership with Mass Megawatts and these landowners. ” “Mass Megawatts fulfilled the two prerequisites that Electric City Wind Power had carved in stone, and that no other wind turbine provider could meet, which were that the equipment be economically competitive with fossil fuels and that it be low-profile in height, so as to be acceptable in communities across Pennsylvania that are not open to 200 to 400 foot towers. Municipalities that have enacted ordinances to keep the monster turbines out have reacted extremely favorable to the 65 foot high MAT units. Wind is as much of a natural resource as coal or natural gas, and many townships are not against harvesting it and bringing the financial gain to their people, if it can be accomplished in a way that does not destroy their community’s view shed and quality of life.” “The principals of Electric City Wind Power, born and bred in the mountain regions of the Commonwealth, understood the concerns and apprehensions of their fellow Pennsylvanians, and are extremely happy to have Mass Megawatts as a strategic partner and the MAT System as their product. They’re proud to be leaders in bringing a major opportunity to join the green economy to the citizens of our Great Commonwealth.” John Moran, a senior sales executive with Electric City Wind Corporation, responded to inquiries regarding the company’s marketing activities in the Pocono Mountain Region. “We’re engaged in discussions with over a dozen different entities, ranging from the Region’s biggest all season resorts, to major universities and colleges, right on through to counties, cities, municipalities and large enterprise industries. I’m expecting that we are going to have a very productive year in the Six County Pocono Region.” “Many organizations that took a pass on wind power due to the resistance to the big turbines are pleasantly surprised when introduced to the Mass Megawatts solution, and they get extremely interested once we get into the economics. Leaders, whether they are coming from the political, academic or business spheres, understand this is where America is going, and they want to be a part of it.” With the favorable political climate directed toward renewable energy, Mass Megawatts is confident in future demand for its high performance, low cost product. For more information, contact the company at (508) 751-5432 or visit: http://www.massmegawatts.com the company website. This press release contains forward-looking statements that could be affected by risks and uncertainties, including but not limited to Mass Megawatts Wind Power, Inc. ability to produce a cost-effective wind energy conversion device. Among the factors that could cause actual events to differ materially from those indicated herein are: the failure of Mass Megawatts Wind Power, Inc. to achieve or maintain necessary zoning approvals with respect to the location of its MAT power developments; the ability to remain competitive; to finance the marketing and sales of its electricity; general economic conditions; and other risk factors detailed in periodic reports filed by Mass Megawatts Wind Power, Inc. Mass Megawatts Announces $1 million New York Project SaleWORCESTER, MA., April 7,2009 /PRNewswire-FirstCall/ -- Mass Megawatts Wind Power, Inc.(OTC bulletin Board: MMGW.OB ) developer of the MAT (Multiaxis Turbosystem) today announced the sale of a 500 kW wind power project in New York State for $1 million. The group purchasing the 500 kW MATS wind power project is headed by Catherine and Daniel Donnelly, principals of Donnelly Mechanical, the major New York City based HVAC and mechanical provider. In addition to the recent sale, Mass Megawatts plans to interconnect the 90 kW unit for the U.S. Army at Fort Huachuca in Arizona to the utility grid within the next week. The 90 kW unit that was originally planned as a 50 kW unit has been cleared for interconnection as a 90 kW unit. ‘Donnelly Mechanical has been moving very quickly into the space of providing sustainable energy solutions for New York City businesses, and this initial wind power project, along with our participation to accelerate the manufacturing and distribution of Mass Megawatts’ MAT technology throughout New York State, is a natural progression,’ a Donnelly Family spokesperson said in a prepared statement. With the founding of the ‘New York City Green Team,’ a broadly based coalition of the City’s construction trade, engineering and architectural firms, Catherine and Daniel Donnelly have become leading proponents of Mayor Michael Bloomberg’s vision to make New York the United States’ most sustainable metropolis. Donnelly Mechanical’s newly formed Sustainable Energy Services has consolidated the Company’s established competencies in energy procurement, management and conservation services, along with renewable energy solutions into one division. The Donnelly’s had followed Mass Megawatts’ development of the Multiaxis Turbosystem and Augmenter over the course of time, and, as the newly introduced technologies were commercialized, entered into formal negotiations with Mass Megawatts, resulting in the 500 kW purchase and the strategic alliance for the introduction of these new wind power technologies, including an advanced version the Mass Megawatts Wind Augmenter (Patent Pending), into the New York marketplace. This breakthrough augmenter technology, now incorporated in all MAT models, enables electricity to be produced at a lower cost than any other wind turbine manufacturer, while making it directly competitive with fossil fuel generation. A recognized leader in New York’s business community, Donnelly Mechanical was listed in 2008 as one of the ‘Best 50 Companies to Work for in New York’ by Crain’s New York Business, along with Microsoft Corporation, Rand Engineering, Cushman & Wakefield, Goldman Sachs, Loews Regency Hotels and other national enterprise level firms. Donnelly Mechanical is also a construction partner and major provider for many of the country’s preeminent companies, including JP Morgan, Apple, Bank of America, Reuters, Major League Baseball, Disney / ABC and Microsoft. With senior staff members LEED certified by the US Green Building Council and a reputation as ‘New York’s Green Mechanical Company,’ the Donnelly’s entry into the renewable energy markets was viewed as part of a grander strategy by sources close to the company. Peter Cucci, a New Jersey based architect and renewable energy consultant, who represents a number of parties engaged in discussions with Mass Megawatts, released a statement that read, in part, ‘New York possesses one of the Eastern United States most productive wind resources, and much of it lies within 150 miles of New York City. Catherine and Daniel Donnelly were very savvy in their recognition of the environmental and economic synergies that regional wind power can bring to their New York City client base. They are esteemed leaders in New York’s ‘true green’ community, and this agreement really puts Donnelly light years ahead of anyone else in the Metropolitan Region. The investors I represent are eager to engage in a shared vision with them.’ The technology of low profile and height is completely acceptable in communities where 200 foot towers are fought tooth and nail. Townships across New York State that have commercial grade wind resources which can bring them economic prosperity often don’t want to view the big towers over long distances. The introduction of the commercialized MAT technology in New York State has the potential of having a profoundly positive impact for many communities, beginning with New York City, but, just as importantly, reaching into the rural areas of the State. The investment group is in discussions now with the industrial development corporations of two upstate counties regarding the placement of a manufacturing facility within in one of their footprints, which will mean the creation of fabrication and installation jobs, along with sales, operations and administrative positions. Over the next year, the MAT will be brought to NYSERDA (New York State Energy Research Development Agency) for certification under the Agency’s incentive plan for wind installers. In a statement released to local media, Daniel Donnelly, stated that ‘New York City has some of the highest priced electricity in the Country, while at the same time we have tremendous wind resource along our shorelines and in our nearby mountain regions.’ ‘Whether we provide our clients with opportunities for long term wind-based power purchase agreements, direct ownership in wind farms to provide physical hedges that protect them from rising prices, or make renewable energy credits available to them to fulfill goals of sustainability and environmental stewardship, we are certain that the new wind power technology will be a big step in bringing the dream of an energy independent America, with cleaner air and purer water, closer to a reality.’ This press release contains forward-looking statements that could be affected by risks and uncertainties, including but not limited to Mass Megawatts Wind Power, Inc. ability to produce a cost-effective wind energy conversion device. Among the factors that could cause actual events to differ materially from those indicated herein are: the failure of Mass Megawatts Wind Power, Inc. to achieve or maintain necessary zoning approvals with respect to the location of its power developments; the ability to remain competitive; to finance the marketing and sales of its electricity; general economic conditions; and other risk factors detailed in periodic reports filed by Mass Megawatts Wind Power, Inc. Contact: Jon Ricker (508) 751-5432
Briefing | News | Summary | Financial | Product | Strategy MASS MEGAWATTS WIND POWER, INC.
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