Solar Wind Energy Tower , Inc . Receives Equity Facility Agreement Commitment …

July 15, 2013 by  
Filed under Green Energy News


ANNAPOLIS, MD, Jul 15, 2013 (Marketwired via COMTEX) –
Solar Wind Energy Tower, Inc. (otcqb:SWET) (the “Company”), the
inventor of a large Solar Wind Downdraft Tower structure capable of
producing abundant, inexpensive electricity, announced today that it
has received a commitment from Beaufort Ventures, PLC to fund up to
$3,000,000 over a period of up to 36 months under the terms of an
Equity Facility Agreement.

Ronald Pickett, CEO, commented, “Solar Wind Energy is rapidly
approaching a turning point where all of the valuable research and
intellectual property advancements will be deployed in direct pursuit
of its first Solar Wind Energy Tower project. We are pleased to have
obtained this $3,000,000 commitment, which is necessary to support
the first project.”

Recently the Company announced in a letter to its shareholders that
its proprietary “Energy Calculator” program can analyze and predict
the size and output of a Tower project at specific locations around
the globe. The Company is now completing the construction budgeting
process for the Tower which, when used in combination with the Energy
Calculator program, will allow the developer to evaluate the full
cost of development and sale of power in order to equate the outcome
to cost per kilowatt hour (kWh).

“We have made educated assumptions for some time now that the Tower
could produce electricity for at least half the cost of any other
alternative energy solution on the market today,” Ronald Pickett
added. “Combining the Energy Calculator data with a budget prepared
in conjunction with our 3rd party expert ‘Teaming Partner’ will
validate the constructability and financial viability of our solution
and paves the way for a true turning point!”

About Solar Wind Energy, Inc.
Solar Wind Energy, Inc. (“Solar Wind
Energy”), a wholly owned subsidiary of Solar Wind Energy Tower, Inc.,
was established to commercialize a number of proven, validated
technologies and construction systems into a single large Solar Wind
Downdraft Tower structure that produces abundant, inexpensive
electricity. Our Company’s core objective and focus is to become a
leading provider of clean, efficient green energy to the world
communities, at a reasonable cost, without the destructive residuals
of fossil fuels, while continuing to generate innovative
technological solutions for tomorrow’s electrical power needs.

Innovative Renewable Hybrid Solar / Wind Energy Technology
We view
ourselves as a hybrid solar/wind technology, reflected in the name,
Solar Wind Energy Tower, Inc. The simplicity of our solution is
comprised of harnessing the natural power of a downdraft created
within the confines of our Solar Wind Downdraft Tower structure, a
hollow cylinder reaching skyward into the hot, dry atmosphere heated
by the solar rays of the sun. The water introduced by the injection
system near the top of the Tower evaporates and is absorbed by the
hot, dry air. The air becomes cooler, denser and heavier than the
outside warmer air and falls through the cylinder at speeds up to and
in excess of 50 mph and is diverted into wind tunnels surrounding the
base of the Tower where turbines inside the tunnels power generators
to produce electricity.

Abundant, Clean, Affordable Electricity Production
The Company has
successfully managed to downsize and economize the Tower, reducing
capital costs and improving projected financial performance. Solar
Wind Energy Tower recently announced the completion of weather data
models that confirm that the first tower height can be lowered from
3,000 feet down to 2,250 feet. This development was made possible by
utilizing our recently announced software which can calculate and
predict energy production by our Solar Wind Downdraft Towers given
local weather data. By feeding the weather data into the program, the
tower’s height and diameter can be adjusted along with the amount of
water added as fuel to create a desired amount of energy. The outcome
dictates the optimum size of the tower’s height and width.

Under the most recent design specifications, the first San Luis Tower
has a design capacity on an hourly basis, of up to 1,250 megawatt
hours, gross. Using a 60% capacity factor, the Tower’s potential
hourly yield would be 600 megawatt hours from which approximately
18.5% will be used to power its operations, yielding approximately
500 megawatt hours available for sale to the power grid. Due to lower
capacities during winter days, the average daily output for sale to
the grid for the entire year is approximately 435 megawatt hours.

In addition to constructing Solar Wind Downdraft Towers in the United
States and abroad, the Company intends to establish partnerships at
home and abroad to propagate these systems and meet increasing global
demand for electricity. Solar Wind Energy has assembled a team of
experienced business professionals, engineering and scientific
consultants with the proven ability to bring the idea to market.
Solar Wind Energy has filed and been issued patents that the Company
believes will further enhance this potentially revolutionary
technology. Solar Wind Energy, Inc., based in Annapolis, MD, is
traded on the OTCQB under the symbol ‘SWET’. For more information
visit www.solarwindenergytower.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:
        Solar Wind Energy, Inc.
        1997 Annapolis Exchange Parkway
        Suite 300
        Annapolis, Maryland 21401
        Phone: 410-972-4713
        E-mail: Info@swetower.com
        
        Investor Relations
        Scott Arnold
        Phone: (310) 497 8817
        Email: scotta@corprominence.com
        
        
        


SOURCE: Solar Wind Energy Tower, Inc.







        mailto:Info@swetower.com
        mailto:scotta@corprominence.com
        


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