Mass Megawatts Announces New Solar Tracking System to be on Website Soon and Company Rejects Toxic Debt Offer
July 31 2014 - 8:19AM
InvestorsHub NewsWire
Mass
Megawatts Announces New Solar Tracking System to be on Website
Soon and Company Rejects Toxic Debt
Offer
WORCESTER,
Mass., July 31, 2014 -- Mass Megawatts Wind Power, Inc. (OTC: MMMW)
today announces the details of new solar tracking technology to be
available soon on the website www.massmegawatts.com
.The new product is designed to increase solar energy production
more than 25%. The patent pending, ‘Solar Tracking System’
(STS) automatically adjust the position of solar panels to
receive an optimal level of direct sunlight throughout the
day. Unlike other solar tracking technologies, the Mass
Megawatts STS utilizes a low-cost structure to the overall system
while improving energy production levels.
The STS allows Mass Megawatts to
lower material costs and reduce the number of solar panels needed
to generate the rated capacity.
Due to this advantage, Mass
Megawatts can deliver more solar power production at a price
similar to lower-capacity, stationary systems. In many
locations, this improved output translates into a 40% rate of
return for the customer with investment payback occurring in the
4th year. Further, by taking advantage of a lease
program or power purchase agreement (PPA) arrangement with the
company, a customer may realize an immediate, positive cash flow,
as immediate energy savings and/or revenues will be realized and/or
exceed the monthly payments due.
In other news, the Company has
declined and will continue to refuse convertible debt, also known a
toxic debt. The “Death Spiral” or toxic debt is a loan that
investors give to a publicly traded company in exchange for a note
or bond with a right to buy stock at a lower price than the current
market price. The conversion process results in the drop in the
stock price.
With its
patented, Solar Tracking System, Wind Electric Power Generation
system and very little debt, Mass Megawatts believes it is well
positioned to ramp-up production in the shorter term while
expanding its infrastructure to support mass-production goals in
the longer term.
This press
release contains forward-looking statements that could be affected
by risks and uncertainties. Among the factors that could cause
actual events to differ materially from those indicated herein are:
the failure of Mass Megawatts Wind Power, also known as Mass
Megawatts Windpower, to achieve or maintain necessary zoning
approvals with respect to the location of its power developments;
the ability to remain competitive; to finance the marketing and
sales of its electricity; general economic conditions; and other
risk factors detailed in periodic reports filed by Mass Megawatts
Wind Power
Product
information and sales inquiries can be made through the company's
contact page at www.massmegawatts.com
Mass Megawatts Wind Power (PK) (USOTC:MMMW)
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