AUSTIN, TX -- (Marketwire) -- 03/15/12 -- Building Turbines, Inc. (PINKSHEETS: BLDW), a leading designer and manufacturer of commercial rooftop wind turbine systems and other renewable energy technologies, announced today that it has executed a Letter of Intent (LOI) to acquire Eco-Wind Solutions, Inc. (EWS). Complete terms were not disclosed; however, an integral part of the agreement set terms whereby the sales staffs from both companies can begin cross-selling each company's products effective immediately.
John Graham, CEO of Building Turbines, Inc., said, 'The LOI will afford technology and sales to Building Turbines while providing ready-to-ship and ready-to-implement products to EWS. The combination of the BT5000 vortex unit and the Windtronics Honeywell Wind Generator unit will bring consumers ultimate wind energy production capacity, LEED registration points, and Federal and State certified alternative energy credits. These benefits will be afforded to all clients secured by our newly expanded sales team.
'Based on industry growth projections, our acquisition of Eco-Wind is well-timed,' continued Graham. Mr. Graham referenced a recent report called 'Small Wind Power' issued in February 2012 by Pike Research, which forecasts that global revenues for small wind systems will more than double between 2010 and 2015, rising from $255 million to $634 million during that period. 'Realizing the benefits Eco-Wind brings to our company, I believe Building Turbines is poised to take full advantage of these positive market trends over the long haul,' added Graham.
Max Champie, COO of Building Turbines, said, 'The Windtronics Honeywell Wind Generator nicely complements our patented BT5000 Turbine. Our horizontal-axis rooftop turbine is designed for higher winds, while the Eco-Wind turbine is better suited for lower winds, can be installed in tight spaces and is much more portable.'
Janet Asarch, president of EWS, said, 'We at EWS are pleased to be joining forces with Building Turbines. I believe the combination of our two companies could lead to one of the market's most innovative alternative energy companies. As we establish a solid domestic book of business, I can envision our customers with international operations also wanting to deploy our renewable energy wind products in their operations worldwide.'
About Building Turbines, Inc.
Based in Austin, Texas, Building Turbines, Inc. is a renewable energy company focused primarily on designing, manufacturing and deploying revolutionary rooftop mounted horizontal-axis wind turbines. For more information visit their website at www.buildingturbines.com, or email them at firstname.lastname@example.org.
About Eco-Wind Solutions, Inc.
Eco-Wind Solutions, Inc. is a leading manufacturer and distributor of small wind turbines and accessories based in Houston, TX. The company currently distributes units for Honeywell WindTronics® systems. The WindTronics Blade Tip Power System has the lowest start-up and 'cut-in' wind speed in the wind industry. This allows the BTPS system to be more responsive to fluctuations in wind speed because of its low friction blade tip perimeter power generator system. The systems offered are portable, light weight, and ideal for low wind zones making opportunities to partner with larger distributors around the globe more accessible. For more information please visit: http://www.ecowindsol.com
The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as 'believes,' 'expects,' 'potential,' 'plans,' 'suggests,' 'may,' 'should,' 'could,' 'intends,' or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
John F. Graham, Sr.