ANNAPOLIS, MD - October 14, 2014 - InvestorsHub NewsWire -
Solar Wind Energy Tower, Inc. (
OTCQB:
SWET) (the "Company"), the inventor of large Solar Wind
Downdraft Tower structures capable of producing abundant,
inexpensive electricity, today reiterated several fundamentals
related to its business including San Luis, AZ Tower
specifications, its proprietary technology and disclosure policies
to better educate and inform current investors and/or those
considering an investment.
San Luis, Arizona Tower Project
The City of San Luis has committed to supply the project with its
estimated water needs annually for a minimum of 50 years. The
supply agreement will utilize less than five percent or 1/20th of
the City's total allocation. Given this small fraction, there is no
reason whatsoever to dispute that San Luis can't fulfill this
commitment.
The Energy Tower
The Company's Downdraft Tower is designed to be 2,250 feet tall. On
a global scale, taller structures have already been built and/or
are under construction. The Tower is a hollow "thin walled"
concrete building. Unlike high rise office and/or residential
facilities which require fire protection, bathrooms, ADA
compliance, elevators, HVAC, and other mechanical and safety
devices, the Tower is a simple structure when compared to a typical
commercial or residential high rise structure. The structure is
based on standard hyperbolic shape construction techniques, and the
construction cost estimates are from world class, globally
recognized contractors who are ready and willing to complete the
Tower Project for their quoted prices which are well within the
Company's budget.
Energy Calculator
Solar Wind Energy's "Proprietary Energy Calculator" formula is 11
pages long -- comprised of detailed "known and accepted"
algorithms. It is kept completely confidential, under "lock and
key," and has not been published by anyone outside of the Company.
Representation by anyone outside of the Company that they have
access to or can quote these propriety formulas is completely false
and without merit.
National Standard Finance LLC
The Company and National Standard Finance LLC, whom work together
under a confidential Non-Disclosure Agreement which allows the
sharing of confidential non-public information, enjoy an excellent
working relationship. As relates to the Arizona Tower project, the
Company is working on meeting the conditions necessary to close the
financing with National Standard. It is not the policy, nor is it
within the scope of their NDA, for business developments related to
the financing of this project to be shared with the public, at any
time. Should that policy change, shareholders and the public will
be informed.
Ronald Pickett, CEO, Solar Wind Energy Tower, Inc., commented,
"While the most accurate and up-to-date information on our Company
is either currently available on our website
www.solarwindenergytower.com and/or previously disclosed in a
public statement, we understand that irresponsible false and
misleading statements from certain parties can run rampant on the
Internet and result in confusion for our current shareholders, and
those considering investment."
He continued, "The Company is committed to maintaining transparency
and eliminating confusion wherever and whenever possible and
suitable. The Company has recently emerged from a period during
which we were unable to provide as much transparency as I would
have liked. Fortunately with that milestone now behind us, we look
forward to sharing our business fundamentals and progress with our
investors in an orderly fashion that respects all of our partners
involved in bringing this Tower to fruition. The absence of
information related to progress of the Company financing agreement
with National Standard should not be taken as a lack of progress,
but rather a sign of our commitment to National Standard and to our
shareholders to get this project off the ground. The information
provided above should reiterate and clarify this, as well as
provide more color on our AZ Tower's specifications and the
proprietary technology that allows us to forecast how our Towers
will do in environments across the globe. As always, we're
committed to transparency and encourage that any questions be
addressed to
info@swetower.com."
The Company appreciates the feedback it is getting from its current
and potential shareholders and trusts this information will clear
up any and all inaccuracies.
About Solar Wind Energy Tower, Inc.
Founded in 2010, Solar Wind Energy Tower, Inc., and its wholly
owned commercializing subsidiary, Solar Wind Energy, Inc., is the
inventor of the patented Solar Wind Downdraft Tower, which uses
state of the art technologies and construction systems to produce
abundant, inexpensive electricity, 24 hours a day, 7 days a week,
and the Energy Generation Calculator software which can calculate
and predict energy production of a Tower given a site's local
weather data. The Company secured the site for its first Tower
project in the U.S. in the City of San Luis, Arizona which may be
ready for operation as soon as 2018. Under the most recent design
specifications, the first Tower in San Luis, Arizona has a design
capacity on an hourly basis of up to 1,250 megawatt hours, gross.
The Company is also focused on licensing its development know-how
and establishing partnerships at home and abroad to propagate Tower
development projects in return for licensing fees for territories,
development fees during construction, and recurring royalty fees
based on the actual kilowatt hours produced by the Tower. Solar
Wind Energy has assembled a team of experienced business
professionals, engineering and scientific consultants with the
proven ability to bring this solution to market.
The Company's core objective and focus is to become a leading
enabler of clean, efficient renewable energy to world communities,
at a reasonable cost, without the destructive residuals of fossil
fuels, while continuing to generate innovative technological
solutions to meet tomorrow's electrical power needs. Solar Wind
Energy has filed and been issued patents that the Company believes
will further enhance this potentially revolutionary technology.
Solar Wind Energy Tower, Inc., based in Annapolis, MD, is traded on
the OTCQB under the symbol "
SWET'.
For more information visit
http://www.solarwindenergytower.com,
https://www.facebook.com/pages/Solar-Wind-Energy-Tower-Inc/515223728536798
and
www.twitter/SWETower.com.
Cautionary Note Regarding Forward-Looking
Statements
Statements included in this release may constitute "forward-looking
statements". Actual results may differ materially from those
projected in forward-looking statements. Such statements involve a
number of risks and uncertainties such as competitive factors,
technological development, market demand and the Company's ability
to obtain new contracts and accurately estimate revenues, if any,
due to variability in size, scope and duration of projects, and
internal issues in the sponsoring client. Further information on
potential factors that could affect the Company's financial
results, can be found in the Company's various filings with the
Securities and Exchange Commission (SEC).
Contact Information
Contact:
Solar Wind Energy, Inc.
1997 Annapolis Exchange Parkway Suite 300
Annapolis, Maryland 21401
Phone: 410-972-4713
E-mail:
Info@swetower.com