AUSTIN, TX--(Marketwire -08/09/12)- Building Turbines, Inc. (BLDW)
Since its inception, Building Turbines, Inc. has been heavily engaged in Research & Development activities in order to ensure the company produces the highest quality product possible. The company's efforts have been focused on increasing wind turbine efficiency, cost engineering, and design and structural engineering. The improved product resulting from these efforts is expected to produce more power at a lower cost, yielding an appealing ROI to the customers. At the same time the company has continued new business development efforts while also strengthening relationships with the current clients and prospective clients.
The following summarizes some important developments since the company's last shareholder update. The company expects to be releasing a good deal of additional information in the near future as it becomes available to keep the shareholders and constituents informed during this very important time for the company's business development and strategic goals. Through ongoing efforts to maintain the highest level of transparency, it is the company's intention to provide valuable insight of how the company is being run.
- The USPTO (United States Patent and Trademark Office) issued a Notice of Allowance for a second patent on the Building Turbines system. This latest patent affirms the Building Turbines value propositions within the renewable energy market, and final issuance should be within a matter of days from this update.
- Building Turbines, in partnership with Austin Green Energy Group and the University of Texas recently completed its fourth R&D study. This study focused on aerodynamics and mechanical design. Three scale prototypes were built and wind tested with permission from TxDot at their facility near Austin. The results are extremely positive; a full report will be completed within the next 2 weeks.
- A full scale turbine based on the aforementioned R&D work is already under development on the Building Turbines HQ rooftop in Austin. The new design will take advantage of the same aerodynamic principles as current design and patents, but is expected to bring higher efficiency at a lower cost of material, and better enable product diversification with ranges of unit sizes that will expand the potential market.
- A new, specialized direct-drive electrical generation system specifically suited to the Building Turbines design is under development, with a goal of expanding power output ranges into lower startup speeds, higher peak power generation, and increasing overall Kilowatt Hours produced by the turbine.
- Building Turbines has been collecting wind data from 21Rio, a luxury 21 floor residential building in downtown Austin. Recently, AGEG and UT have also become involved with this important effort. The data indicates that the wind power potential is promising, and we expect to submit final proposals in the next several weeks. Installation of the Building Turbines systems will be a highly visible landmark that demonstrates 21Rio's well-known commitment to environmental responsibility, and further the awareness of the BT product within view of a major metropolitan area.
- Building Turbines has a pending contract for four additional cities, with a current retail client, who presently has Building Turbine units installed in Corpus Christi. The Corpus Christi installations, in place for just over a year, have been especially valuable in determining system reliability factors and areas for improvement. These units have endured harsh coastal and tropical climatic conditions, including tropical storm conditions and have performed extremely well. Building Turbines plans to replace these turbines with its latest version to demonstrate to our customers our level of commitment.
"I believe that distributed generation (DG) will transform our world, creating power for our world in an unprecedented way, we continue to complement solar and moving towards the complete green roof solution for an urban environment," says John Graham, CEO.
Building Turbines: Helping Save the Planet one rooftop at a time.
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.
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.