NACEL Energy Corporate Update
17 Septiembre 2010 - 6:00AM
Marketwired
NACEL Energy Corporation (OTCBB: NCEN) (FRANKFURT: 4FC) (the
"Company") confirmed today it has received notification from
Arizona Public Service (APS) that the Company's Snowflake wind
power project will not be considered for further evaluation in the
APS 2010 Renewable Energy Request for Proposal (RFP) process.
Additionally, NACEL announced it has entered into a Letter of
Intent with Hurricane Screens & Security, Inc. ("Hurricane"),
located in West Palm Beach, Florida, to acquire 48% of its
outstanding common stock. It is contemplated that the Letter of
Intent will be replaced with a definitive and binding Stock
Purchase Agreement which has a planned closing date of September
30, 2010.
NACEL Energy Chief Executive Officer, Mark
Schaftlein, stated:
"Hurricane manufactures products which assist commercial,
residential and government building owners to protect against storm
and weather related damage, lower insurance costs, improve energy
efficiency and enhance security. The impact of climate change on
the Atlantic and Gulf coastal regions is significant and NACEL's
planned acquisition of 48% Hurricane affords an entry into a
fast-growing market with an established supplier.
"In its last fiscal year, Hurricane generated $1.1 million in
sales. Hurricane products have received certification through the
Florida Energy Conservation Assistance Program and the Texas
Department of Insurance. 100% of Hurricane's products are produced
in the U.S.A. at its manufacturing facility in West Palm Beach,
Florida.
"NACEL's six wind power projects in Texas and Arizona are all at
an advanced stage of development. NACEL, together with its tier-one
turbine manufacturing partner, fully intend to bid on future RFPs
expected in Arizona and Texas beginning in the Spring of 2011."
About NACEL Energy Corporation (OTCBB:
NCEN)
NACEL Energy is one of the first publicly traded companies in
America exclusively developing clean, renewable, utility scale wind
power. The Company currently anticipates generating an aggregate
130 megawatts of new wind power upon the commissioning of its
Snowflake project in Arizona, in addition to Leila Lake, Hedley
Pointe, Swisher, Channing Flats and Blue Creek, all located in the
Texas Panhandle. NACEL Energy was founded in 2006 and successfully
completed its IPO in December of 2007.
Read all NACEL Energy's past news releases at
http://www.nacelenergy.com/news/archive.html
NACEL Energy The WIND POWER COMPANY™
Notice regarding Forward-Looking Statements
Statements in this press release relating to NACEL Energy's
plans, strategies, economic performance and trends, projections of
results of specific activities, and other statements that are not
descriptions or historical facts may be forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995, Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. Forward-looking information
is subject to risks and uncertainties, and actual results could
differ materially from those currently anticipated due to a number
of factors, which include, but are not limited to, risk factors
inherent in NACEL Energy's business. Forward-looking statements may
be identified by words such as "should," "may," "will,"
"anticipate," "expect," "estimate," "intend" or "continue," or
comparable words or phrases. This press release cautions that NACEL
Energy must still enter into a definitive Stock Purchase Agreement
and complete due diligence and other investigations and any
conditions to closing must be satisfied before it acquires the
contemplated shares of Hurricane's common stock. In addition, NACEL
Energy must undertake and complete many steps in the development
model before the generation of wind energy can commence. Among the
numerous items which have to be completed in this regard include,
without limitation, obtaining pertinent agreements and permits,
construction of project facilities, satisfying financial
requirements and other burdens. Interested persons are encouraged
to read the SEC reports of NACEL Energy, particularly its Annual
Report on Form 10-K for the fiscal year ended March 31, 2010 and
its Quarterly Report on Form 10-Q for the quarter ended June 30,
2010, for meaningful cautionary language disclosing why actual
results may vary materially from those anticipated by
management.
Contact: NACEL Energy Investor Relations 1-888-242-5848
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