Mass Megawatt Wind Power, Inc. (MMGW.OB) Licensee Announces $5.8 Million Contract
QualityStocks (November 20th, 2009) Writes:
Mass Megawatts Wind Power Inc. develops, builds and operates state-of-the-art wind energy power plants. The company has patented technology – Multi-Axis Turbosystem – which is capable of generating electricity at 40% less cost than traditional wind power technologies and is directly competitive with fossil fuel (coal, natural gas) power plants.
The company announced today that a Pennsylvania-based licensee, Electric City Wind Power, had executed a $5.8 million agreement with a group of wind power investors from the Scranton, Pennsylvania area. Under the terms of the agreement, the investors will purchase a total of 3 megawatts of Mass Megawatt’s Multi-Axis Turbosystem (MAT) equipment which will be installed as a series of wind power projects in northeastern Pennsylvania. The projects will be sized from 500 kilowatts to 1 megawatt.
Mass Megawatts has already completed the installation of the first commercialized version of the company’s new MAT model at Hunter, New York. Over the past
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