Solar Wind Energy Tower, Inc. (otcqb:SWET) (the "Company"), the inventor of large Solar Wind Downdraft Tower structures
Solar Wind Energy Tower, Inc. Extends Rights to Develop Energy Towers in Africa
ANNAPOLIS, MD, May 27, 2014 (Marketwired via COMTEX) — Solar Wind Energy Tower, Inc. (otcqb:SWET) (the “Company”), the inventor of large Solar Wind Downdraft Tower structures capable of producing abundant, inexpensive electricity, announced today that it has entered into a Memorandum of Understanding with Invest Africa, Inc., a Florida corporation, including subsidiary companies: Invest Africa Nigeria (Pty) Ltd., Totem Pitch Investments (Pty) Ltd., (Botswana), and Invest Energy Services (Pty) Ltd. (Namibia) referred to collectively herein as “IAI”, which granted IAI a “Negotiations Period” for rights to license trade secrets, patents, and knowledge from Solar Wind Energy. During the “Negotiations Period” IAI has the exclusive right to hold itself out in Namibia and Botswana, Africa and to enter into a long term “Definitive Agreement” with Solar Wind Energy to use the rights to develop Solar Wind Energy Downdraft Towers in Namibia and Botswana, Africa.
Under the “Definitive Agreement” Solar Wind Energy will provide technical support and personnel to advise and assist IAI in project development, design, procurement, construction and the operation of a Tower Facility. Solar Wind Energy will also assist IAI with the technical and feasibility studies as well as presentations necessary for proposals to the agreed upon nation’s Government ministries and potential participants in the project(s). The Memorandum of Understanding outlines terms of the license fees for Namibia and Botswana, Africa, as well as specific recurring royalties and fees for each Tower Facility within the territory.
Ronald Pickett, CEO, Solar Wind Energy Tower, Inc. commented: “We are pleased to have formed this relationship with IAI. We have worked diligently for over three years assembling the team, techniques, and know how to enable this clean alternative energy solution to be brought to market. Our business plan is to enable developers to materialize projects across the globe where weather conditions are most suitable. The IAI regions in Africa also provide prime environments for the Tower, and the desire and need for power in Africa is extremely high. Since our recent announcement that the Company has secured the site for its first Tower project in Arizona, we’ve been interviewing candidate companies interested in pursuing international opportunities. The Company is now focusing on the Middle East as the entire area is ideal to support Tower projects and we are evaluating a number of potential alternatives”.
ABOUT INVEST AFRICA, INC. & INVEST AFRICA ENERGY SERVICES (PTY), LTD.
INVEST AFRICA, INC. (IAI) USA was formed to raise capital to fund and develop African mineral and energy projects that are required to stimulate additional development capital investments. Our specialization reduces traditional African obstacles and gives us a business advantage that opens equity opportunities for our company(s) and our underpinning global financial institutional and private investors.
INVEST AFRICA ENERGY SERVICES (PTY), LTD. (IAES) currently exhibits our resource and project development services. IAES has secured a legacy of projects that will provide lucrative opportunities for the company and its investment partners. Our experienced executive team brings together a network of accredited international lenders and investors acquired over many years. For example, IAES’s platform sources the capital requirements necessary for African concession holders to develop their resource and mineral holdings.
IAI and IAES mining investments are focused on development of rare earths, gold, diamonds and other high yield strategic mineral resources. Our African Energy Development Service Partnerships allow us to bring investment funding for oil exploration and petroleum related services, including large scale renewable energy production programs utilizing solar, bio-mass, wind, thermal and tidal power generation. Invest Africa holds governmental authority and licenses to trade and export high yield commodities i.e., gold, diamonds, crude oil and crude oil products. Our construction relationships are working with international developers who bring state of the art infrastructure solutions that utilize alternative building materials to construct affordable low and middle income housing.
Invest Africa has secured trade licenses and infrastructure contractual agreements. In addition the company has developed short term equity participation programs for rough diamond investments. Our programs are mutually beneficial for our African and our international capital investors, as well as the governments and working populations. Several African countries have engaged our services and appointed the firm as exclusive consultants for developing new business models to stimulate and enhance the influx of foreign financial investment.
The foreign investment market is poised to secure a stake in Africa’s infrastructural and public works development. Africa’s infrastructure development has become an attractive emerging market. China’s aggressive foreign investments in African projects shows sound initiatives accumulating safe and prudent long term investment venues for their Sovereign and private capital reserves.
Designed to engage businesses within the countries of origin, Invest Africa’s projects require investment by IAI’s local company in each nation under government regulations. IAI’s support allows IAES to lead facilitation of ground floor acquisitions, contracts, joint ventures and mandates. By spearheading local participation, Invest Africa Energy Services (Pty), Ltd. builds a strong base awarded to us through our strategic efforts and relationship development in several key African nations.
Invest Africa’s exclusive agreements give us advantages over the competition in this new Africa. We are poised to reward our investors through the implementation of multiple high-yield projects and programs. Invest Africa’s awarded diamond license gives IAI unique access to intact depositories of gem quality rough diamonds with export permits from rich diamond producing countries in Africa. Our access to other commodities, minerals, petrochemicals, crude oil, as well as continued engineering and construction project development, have long term capitalization growth and finance ROI’s.
About Solar Wind Energy Tower, Inc. Solar Wind Energy Tower, Inc., and its wholly owned commercializing subsidiary, Solar Wind Energy, Inc., is the inventor of the patented Solar Wind Downdraft Tower which uses state of the art technologies and construction systems to produce abundant, inexpensive electricity, 24 hours a day, 7 days a week. The Company secured the site for its first tower project in the U.S. in the City of San Luis, Arizona and may have its first Tower ready for operation there as soon as 2018. Aside from the development of this Tower, the Company is focused on licensing its development know-how and establishing partnerships at home and abroad to propagate Tower projects and in turn, receive licensing fees for territories, development fees during construction, and recurring royalty fees based on the actual kilowatt hours produced by the Tower. Solar Wind Energy has assembled a team of experienced business professionals, engineering and scientific consultants with the proven ability to bring this solution to market.
The Company’s core objective and focus is to become a leading enabler of clean, efficient renewable energy to the world communities, at a reasonable cost, without the destructive residuals of fossil fuels, while continuing to generate innovative technological solutions to meet tomorrow’s electrical power needs. Solar Wind Energy has filed and been issued patents that the Company believes will further enhance this potentially revolutionary technology. Solar Wind Energy, Inc., based in Annapolis, MD, is traded on the OTCQB under the symbol ‘SWET’.
For more information visit http://www.solarwindenergytower.com.
Innovative Renewable Hybrid Solar / Wind Energy Technology The simplicity of the Company’s hybrid solar/wind technology solution is found in its ability to harness the natural power of a downdraft created within the confines of its Tower structure, a hollow cylinder reaching skyward into the hot, dry atmosphere heated by the solar rays of the sun. The water introduced by the injection system near the top of the Tower evaporates and is absorbed by the hot, dry air. The air becomes cooler, denser and heavier than the outside warmer air and falls through the cylinder at speeds up to and in excess of 50 mph. The air is then diverted into wind tunnels surrounding the base of the Tower where turbines inside the tunnels power generators to produce electricity.
The Company has successfully managed to economize the Tower, reducing capital costs and improving projected financial performance. This development was made possible by utilizing the Company’s Energy Generation Calculator software, which can calculate and predict energy production of a Tower given a site’s local weather data. By feeding the weather data into the program, the Tower’s height and diameter can be adjusted along with the amount of water added as fuel to create a desired amount of energy. The outcome dictates the optimum size of the Tower’s height and width. Under the most recent design specifications, the first Tower in San Luis, Arizona has a design capacity on an hourly basis of up to 1,250 megawatt hours, gross. Due to lower capacities during winter days, the average hourly output per day for sale to the grid for the entire year is approximately 435 megawatt hours/hr.
Cautionary Note Regarding Forward-Looking Statements Statements included in this release may constitute “forward-looking statements”. Actual results may differ materially from those projected in forward-looking statements. 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 revenues, if any, 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).