Solar Wind Energy Tower, Inc. (OTCQB: SWET) (the "Company"), the inventor of a large Solar Wind Downdraft Tower structure capable of producing abundant, inexpensive electricity, announced today the enhanced business model for the development of the Downdraft Energy Tower.
Ronald Pickett, CEO, Solar Wind Energy Tower, Inc., commented: "As a result of our recent press releases referencing Solar Wind Energy extending development rights for our Energy Downdraft Towers in both Chile as well as India, we have received an influx of inquiries from around the world requesting information as it would pertain to particular geographic regions, and a desire to participate in our Energy Downdraft Tower Projects. As a result, I want to clarify our business model and define the method by which we are moving forward.
"First, let me be clear, Solar Wind Energy does not intend to develop and build Downdraft Towers unilaterally. Solar Wind Energy owns the patented rights, holds the proprietary information, and has assembled the construction & management team to enable the development of the Downdraft Energy Tower to make abundant, clean, predictable alternative energy at a cost which is competitive with traditional fossil fuel fired plants.
"Solar Wind Energy is seeking potential Developers to pursue Tower Projects in qualified geographic regions around the globe. Solar Wind Energy will, by applying its proprietary Energy Calculator, evaluate the suitability of the site, the size and cost of the project, as well as the energy production. Solar Wind Energy will support the potential Developer in the pursuit of the necessary entitlements for the project. Once these matters have been positively reviewed, then the Developer can exercise permanent development rights.
"Compensation for the issuance of development rights will be in the form of a license fee, project and construction management fees, and a royalty fee based on energy production output to the grid."
Business Development Update Briefing As previously announced the Company has scheduled a Business Development Update Briefing for December 11th, 2013 at 4:15 Eastern Time, following the Annual Shareholders Meeting. The call will be open to the public and hosted by the Company's CEO Ronald Pickett, who will provide an update on the Company's progress along with additional insight into the Company's business model and facilitate a Q&A session.
Conference Call Dial-In Instructions: To participate in this event, dial (877) 709-8150 domestically, or (201) 689-8354 internationally approximately five to ten minutes before the call.
About Solar Wind Energy, Inc. Solar Wind Energy, Inc. ("Solar Wind Energy"), a wholly owned subsidiary of Solar Wind Energy Tower, Inc., was established to utilize proven and validated scientific principles, combining them with state of the art construction systems to enable the development and commercialization of large Solar Wind Downdraft Tower structures that produce abundant, inexpensive electricity. Our Company's core objective and focus is to become a leading enabler of clean, efficient green energy to the world communities, at a reasonable cost, without the destructive residuals of fossil fuels, while continuing to generate innovative technological solutions for tomorrow's electrical power needs. The Company intends to establish partnerships at home and abroad to propagate Tower Projects and meet the increasing global demand for electricity. The Company does not intend to own the projects. The business plan includes receiving license 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. 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 visitwww.solarwindenergytower.com
Innovative Renewable Hybrid Solar / Wind Energy Technology We view ourselves as a hybrid solar/wind technology, reflected in the name, Solar Wind Energy Tower, Inc. The simplicity of our solution is comprised of harnessing the natural power of a downdraft created within the confines of our Solar Wind Downdraft 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 and is diverted into wind tunnels surrounding the base of the Tower where turbines inside the tunnels power generators to produce electricity.
Abundant, Clean, Affordable Electricity Production The Company has successfully managed to economize the Tower, reducing capital costs and improving projected financial performance. This development was made possible by utilizing our recently announced software which can calculate and predict energy production by our Solar Wind Downdraft Towers given 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 San Luis Tower 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.