WindTamer Receives Order from European Distributor
WindTamer Corporation has received an initial order together with payment for two WindTamer 8.0GT and one WindTamer 4.5GT wind turbines from the distributor.
Under the terms of the agreement UAB WindTamer Europe, a newly-formed entity which is not an affiliate of WindTamer Corporation, has the right to purchase, market, re-sell, assemble, install and otherwise distribute the Company's products within the exclusive territories.
Lithuania currently produces no nuclear power and must purchase electricity in the free market.
Mindaugas Mazonas, director of sales at UAB WindTamer Europe, said: â€œWe chose WindTamer Corporation after extensive due diligence because their turbines meet European standards and we concluded that it's the best and most efficient system in the market. Our company is planning to be the biggest WindTamer distributor in Europe.â€
â€œPower generation and the cost and availability of electricity are major issues in Lithuania. Lithuania was one of the most nuclear-dependent countries before closing its last Soviet-made reactor in 2010.â€
William Schmitz, CEO of WindTamer, said: â€œIn our discussions with potential European partners we are receiving indications that the recent moratoriums and re-thinking of nuclear power production may well result in rising electricity prices in Europe. This prospect makes the value proposition of our wind turbines and other products, especially our Power on Demand system, even more compelling.â€
How far the deal benefits WindTamer?
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