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Americas Wind Energy Corporation Announces an Agreement with a Cooperative in Quebec for the Sale of Windturbines and the Manufacture of Windturbine Components
Business Wire, March 19, 2007
TORONTO -- Americas Wind Energy Corporation ("AWEC" or the "Company") (OTCBB: AWNE) is pleased to announce the signing of a Heads of Agreement between the Cooperatives Regroupees en Energie Renouvelable du Quebec ("CRERQ") and Americas Wind Energy Inc. (AWEI), AWEC's wholly-owned subsidiary in Canada.
CRERQ is a cooperative set up to sell AWE 900 Windturbines to industry and communities in Quebec. AWEC has been advised that CRERQ intends to facilitate the formation of another cooperative, to be named EKUA. This cooperative is expected to supply the major manufactured windturbine components, including nacelles, rotors, generators, blades and towers. Further, this cooperative is expected to supply windturbine components to AWEI for the market in Quebec and to be a contributing supplier in the rest of Canada, and to AWEC for the market in the United States.
This arrangement is expected to provide AWEC and AWEI with improved costs because of reduced transportation costs and because of the government support available to Quebec manufacturers.
AWEC has been advised that CRERQ plans to order 4 windturbines very soon, and AWEC has been further advised that CRERQ expects to place orders with AWEI for 20 windturbines in the following year.
About Americas Wind Energy Corp.
AWEC is focused on the manufacturing and marketing of medium sized (900 kW) windturbines for the North American market. AWEC's strategy is to manufacture as much as possible in North America, with the intention of providing both cost effectiveness and local content. All of AWEC's projects to date have made use of local tower manufacturers.
AWEC is and intends to remain a virtual manufacturer. This means AWEC plans to subcontract the components of its windturbines to qualified manufacturers and manufacturing partners to achieve the best in quality at the lowest cost. As a key part of the strategy of a virtual manufacturer, AWEC plans to maintain strict quality assurance programs and quality control procedures for its subcontractors and partners.
If you would like additional information on AWEC, please view AWEC's website at www.awewind.com and AWEC's listing on the OTTBB, symbol AWNE. For more information, or to join AWEC's mailing list, please contact the Investor Relations Department by emailing ir@awewind.com.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Since the forward-looking statements relate to future developments, results or events, these statements are highly speculative and involve risks, uncertainties and assumptions that are difficult to assess. You should not construe any of these statements as a definitive or invariable expression of what will actually occur or result. Such forward-looking statements include, among others, the expectation and/or claim, as applicable, that (i) this cooperative is expected to supply the major manufactured windturbine components, including nacelles, rotors, generators, blades and towers; (ii) further, this cooperative is expected to supply windturbine components to AWEI for the market in Quebec and to be a contributing supplier in the rest of Canada, and to AWEC for the market in the United States; (iii) AWEC has been advised that CRERQ plans to order 4 windturbines very soon, and AWEC has been further advised that CRERQ expects to place orders with AWEC for 20 windturbines in the following year; (iv) AWEC's strategy is to manufacture as much as possible in North America, with the intention of providing both cost effectiveness and local content; (v) AWEC is and intends to remain a virtual manufacturer; (vi) AWEC plans to subcontract the components of its wind turbines to qualified manufacturers and manufacturing partners to achieve the best in quality at the lowest cost; and (vii) as a key part of the strategy of a virtual manufacturer, AWEC plans to maintain strict quality assurance programs and quality control procedures for our subcontractors and partners.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, (i) CRERQ's and/or EKUA's ability to supply manufactured windturbine components; (ii) AWEC's and/or AWEI's ability to achieve improved costs because of reduced transportation costs and governmental support; (iii) AWEC's ability to negotiate binding agreements for the order of windturbines with CRERQ through the following year; (iv) AWEC's ability to obtain all required parts from suppliers to manufacture windturbines; (v) AWEC having enough funding to complete the manufacture of windturbines; (vi) AWEC's ability to develop and maintain relationships with subcontractors and qualified manufacturers in North America; (vii) AWEC's ability to manufacture its products in North America cost effectively and efficiently; and (viii) AWEC's ability to maintain and update, when and if required, its quality assurance programs and quality control procedures for its subcontractors and partners. These forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's periodic reports filed from time to time with the Securities and Exchange Commission and available at www.sec.gov.
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