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Sustainable Development International, Inc., enters license for efficient wind turbine and flywheel energy storage systems
Monday February 25, 2002, 4:20 p.m. Eastern Time
Press Release
Sustainable Development International, Inc., enters license for efficient wind turbine and flywheel energy storage systems
SACRAMENTO, Calif.--(BUSINESS WIRE)--February 25,
2002--Effective February 11, 2002, Sustainable Development
International, Inc, a Nevada corporation. (the "Company"), entered into
a singular license agreement (the "Agreement") for an efficient wind
turbine and flywheel energy storage system with an Atlantic Canada
developer.
The Company obtains 50.1% of the new joint venture with the Canadian developer having the remainder of 49.9%.
The new joint venture relationship, Regenerative Power Manufacturing
Inc., a Canadian corporation, will manufacture wind turbine and
flywheel energy storage systems of 30 kilowatt per hour capacity for
sale to commercial, industrial, residential, and agricultural clientele
in the United States, Canada and internationally.
Harold Jahn, President and CEO, stated, "we are pleased with the
proven track record of this product which is already operating in six
countries with over three years of field history in a variety of
applications." The units are currently operating in Rwanda, Kenya,
Greenland, Chile, Peru and the United Arab Emirates plus on
communication and deep-sea ocean drilling platforms.
The wind turbines operate in wind speeds of 5 mph or less, storing
the generated electricity as kinetic energy in the flywheel system to
be converted back into electricity for use when required. Available
wind turbine models include 1.7 kW through 30 kW per hour units at
variable voltages, AC or DC and single or three phase.
Unlike several flywheels in the industry spinning at 20,000 to
100,000 revolutions per minute, this flywheel energy storage system
rotates at a speed of less than 2,000 revolutions per minute. The low
rotational speed of the flywheel should reduce the cost of the
materials for the product, and in management's opinion, significantly,
resulting in a competitively priced product for the purchaser.
The Company is exploring numerous applications, such as the
possibility for an end user to become completely independent from the
utility grid for electricity supply. In addition, commercial users may
expect to be able to reduce their overall energy bills by using the
stored flywheel energy during the peak electrical rate periods in the
early morning and the late afternoon hours, which should result in
substantial savings. The years of prior testing and present use of the
flywheel system indicate that this technology should prove to be a
reliable source of uninterrupted power supply.
The Agreement also stipulates that a renewable energy utility
(Independent Power Producer) will be formed in the coming weeks to own
and operate wind farms. The renewable utility will target electrical
sales to subdivisions, commercial, and industrial clients at
competitive pricing.
The company's renewable energy developments in progress will be outlined in further press releases.
Sustainable Development International, Inc., a Nevada corporation,
is a development stage company formed in 1998 to commercialize
innovative technologies in the renewable energy industry. Our goals are
to acquire technology rights and licenses from patent holders and
others, secure market presence, and raise sufficient capital to build,
own and operate facilities throughout the world.
Pursuant to the safe harbor definitions and provisions of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, this news release contains
certain forward-looking statements. Such statements use words
including, but not limited to, "expects," "believes," "intends,"
"indicates" and other such words and phrases not directly supportable
as statements of present fact. Such forward-looking statements are
subject to certain risks and uncertainties, including, among other
things, the company's business conditions, the general economic
environment, reliance on performance by third parties, etc. These and
other risks, uncertainties and additional factors could cause actual
results to differ materially from those projected.
For further information, please call, 403 262 9518.