NORTH VERNON, IN — (Marketwired) — 10/13/15 — WindStream Technologies, Inc. (OTCQB: WSTI) (“WindStream” or the “Company”), announced today that it has commissioned Phase 1 of its 2 megawatt (MW) commitment in Argentina. Phase 1 consists of 500 kilowatts (kW’s) of the Company’s PowerMill™ product, which is now operational in the Province of Buenos Aires, just outside the city of Buenos Aires.
In a well-attended ribbon-cutting event, the “Parque de Energía Híbrida, Solar y Eólico Papa Francisco,” named after Pope Francis, was officially unveiled to the public and was attended by officials from all levels of the government of the Province of Buenos Aires, including the Secretary of Public Services, in charge of Energy, Franco La Porta and the Executive Director of the Organization for the Sustainable Development (OPDS), Hugo Bilbao. Daniel Scioli, currently the Governor of the Province of Buenos Aires and the leading Presidential candidate for the Country’s elections to be held on October 25, 2015 was the Master of Ceremonies for the event.
The project consists of three rows of PowerMill’s™, which will directly feed energy into the grid powering Led lighting along the highway “Camino del Buen Ayre”, the first sustainable highway of Latin America, and local homes and businesses. “This project represents the Company’s first foray into providing utility scale power to a grid and is a huge milestone for WindStream. This project has opened up our ability to meet the needs of our customers around the world that have asked for a utility scale product that harnesses both wind and solar resources in a single application,” said Travis Campbell, COO of WindStream.
“I am very happy to have been a part of the very first deployment of the PowerMill™ in the world at our Autopista Sustenable (Sustainable Highway) and look forward to our next project of 1MW in the city of San Nicolas de los Arroyos,” commented Mr. Christian Schiano, CEO of Surland Technologies, the Company’s distributor in Argentina.
Claudio Chami, WindStream’s Senior Vice President of Sales for Latin America added, “We are now able to offer a hybrid energy solution to the country that not only can be rooftop mounted, but can be used in a utility scale application opening up a whole new market for the Company’s products and services.”
The project has been championed by Chamber of Electric Distribution Companies from the Province of Buenos Aires (Freba: http://www.freba.org/), as well as the Government of the Province of Buenos Aires, as a means of promoting the use of renewable energy within the more than 100 member utility companies.
Argentina is currently assessing its energy policies and is believed to be leaning towards mandating and supporting, through feed in tariffs, the use of clean energy to supplement its energy needs. The Company is in discussions to deploy the PowerMill™ in other Provinces throughout Argentina and expects to see approvals for these new projects by the end of the year.
About WindStream Technologies: Founded in 2008, WindStream Technologies, a public company (OTCQB: WSTI), is headquartered in North Vernon, Indiana. WindStream Technologies was established to create low-cost hybrid, renewable energy solutions for urban, suburban, and on and off-grid environments. Made in the USA, its patented SolarMill® technology is a distributed energy solution, which produces continuous renewable energy for customers that is always available. The Company’s products are sold globally. For more information please visit www.windstream-inc.com.
Certain statements in this press release constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect” and “intend,” among others. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs but they involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, such as business and political conditions in the geographic areas in which we sell our products; weather and natural disasters; changing interpretations of generally accepted accounting principles; outcomes of government reviews; inquiries and investigations and related litigation; continued compliance with government regulations; legislation or regulatory environments, requirements or changes adversely affecting the businesses in which we are engaged.
Investors should read the risk factors set forth in the Annual Report on Form 10-K/A filed with the SEC on April 22, 2015 and future periodic reports filed with the Securities and Exchange Commission. The information set forth herein should be read in light of such risks. You are urged to consider these factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. The forward-looking statements made herein speak only as of the date of this press release and the Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company’s expectations.