Mass Megawatts' Regulation A Stock Offering is Sold Out at Five Cents a Share
December 07 2021 - 7:03AM
InvestorsHub NewsWire
Mass Megawatts' Regulation
A Stock Offering is Sold Out at Five Cents a
Share
BOSTON, MA -- December 7, 2021 -- InvestorsHub NewsWire -- Mass
Megawatts (OTC
Pink: MMMW) www.massmegawatts.com recently completed
its 5 million share stock offering on November 10, 2021, and raised
$250,000. Several goals from product refinement and achieving a
steady growth of sales after the initial sales will be supported
with the proceeds of the funds recently raised. The solar tracker
product can achieve 30 percent more power output for an additional
ten percent cost. One key goal is that the Company will be able to
complete the UL3703 certification (Underwriters Lab certification
for solar trackers) needed to give the customer assurances that the
National Code NFPA 70 requirements are met. The cost of the
certification can be minimal since the most expensive items of the
solar power unit (panels, racking inverters, electrical
interconnection equipment) and tracker have already been certified
except for the actual physical platform itself. The highest
electrical and mechanical engineering standards help speed up the
approval process by many local government officials and eliminates
many obstacles toward project financing. Other uses of the
proceeds include construction, data acquisition, experimental
retrofits/engineering and testing of a 30kW unit and wind tunnel
test for structural verification to reduce foundation and racking
requirements with our furling system for reducing wind loads.
Additionally, our sales program will be able to have funds for
marketing, customer acquisition expenses, and website related
promotion. The company now has funds to finance initial sales to
overcome the obstacles of customer acceptance and bank financing of
a new product. The company can recoup this expenditure from the
repayment of the loans granted to the early customers, in addition
to the revenue and/or profit from each of the early sales. Any
future financing of solar units beyond the initial early adopter
sales could be outside vendors or low interest long term bonds once
the company achieves the credit worthiness of a company with
sustainable profits.
In other news, Mass Megawatts recently announced a 160kW kW project
using the patent pending solar tracker taking advantage of the
finance incentives of developing on a brownfield area or location
with environmental challenges. Although this project is outside the
designated opportunity zone which would also provide incentives for
low-income communities, larger projects are being planned in the
same neighborhood that are inside in geographical location
designated as an opportunity zone. Those projects would take
advantage of government incentives for selling to low-income
electric users. Most importantly, the use of virtual net metering
protects the finance interest of the project by having the actual
project at a different location than the residence of the
low-income customer. If the electricity user cannot pay the
electric bill, it would be easier to redesignate another user for
maintaining the revenue stream of that solar power
unit.
The project is projected to have a pay for itself in about three to
four years based on Massachusetts electric prices with current
federal and state incentives. The 160-kilowatt project is designed
to be able to reduce the cost of solar power by employing a furling
technology borrowed from wind technology for protection in the case
of high wind events. The technique improves the efficiency of solar
arrays without adding significant additional expense. Mass
Megawatts is responsible for the site development, fabrication,
installation, and the interconnection obligations of the solar
project. The solar project is in a low-income area in Worcester,
Massachusetts.
Additionally, Mass Megawatts began construction of two solar power
systems to demonstrate the benefits of the company's
patent-pending, Solar Tracker technology. The two systems are being
constructed at the same site in Worcester Massachusetts. They
will be identical, except that one system will include the
company's Solar Tracker technology, while the other will not.
The performance of these systems will be compared to demonstrate
that the Solar Tracker provides a 30% improvement in power
generation with less than a 10% increase in
cost.
Each solar power system will contain six, 300 watt rated
panels. The solar power components in each system will be
identical, including their purchase date, the manufacturer, and
model numbers. The units will be constructed adjacent to one
another, ensuring that the environmental conditions are also the
same. Power generation levels from both units will be
monitored and compared to conclusively show the positive impact of
the solar tracking technology.
The company's patented pending, Solar Tracker is designed to
automatically adjust the position of solar panels throughout the
day to directly face the sun as it travels from East to West.
This can significantly boost energy production levels of a
solar power system while reducing the payback period for solar
power investments.
Unlike other solar tracking technologies, the Mass Megawatts Solar
Tracker utilizes a low-cost framework that adds stability to the
overall system, while improving energy production levels.
This reduces the number of solar panels needed to generate
the rated capacity. Due to this advantage, Mass Megawatts can
deliver more solar power at a lower cost when compared to
traditional, stationary systems. Mass Megawatts believes that
their tracking technology provides a competitive advantage that
will soon become a standard in the solar power industry. The
company is continuing to plan for residential and commercial
installations throughout the country.
The global demand for solar tracking is anticipated to grow from
the current market size of $2 billion to more than $3
billion by 2025, with demand being fueled by the growing need
for clean, renewable energy sources. Mass Megawatts sees an
opportunity to be leader in this industry by delivering a reliable,
low-cost solution.
With its patent pending, Solar Tracking and Wind Electric Power
Generation systems, and very little debt, Mass Megawatts believes
it is well positioned to expand production and meet its revenue
generation goals in both the near and long
terms.
Product information and sales inquiries can be made through the
company's contact page at www.massmegawatts.com and the e-mail
address on the Website.
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 (MMMW), 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
(MMMW).
Contact:
Mass Megawatts Wind Power Inc.
info@massmegawatts.com
www.massmegawatts.com
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