Building Turbines Awarded $1M Project for New Solar Carport and LED Retrofit, for Five Story Office Buildings in Austin TX
AUSTIN, TX -- (Marketwired) -- 08/30/13 -- Building Turbines, Inc. (PINKSHEETS: BLDW) is proud to announce that through Green City Planet; they have not only introduced a new Solar product line; but have been awarded their first nearly $1M lease project, financed through Nsite Investment Group LTD. The Project includes a complete LED lighting retrofit for a 55,000 sq-ft office building in Austin, TX; as well as, the installation of a new Solar Parking Garage; with a second 55,000 sq-ft building to follow shortly after, based on installation results and savings. The City of Austin completed their final walk through and analysis of the project this week, which determines the actual rebate amount that the customer will realize. It is anticipated that the customer will receive rebates in excess of 20% of the entire project cost, along with approximately a 30% investment tax credit.
"It is exciting that we can announce the addition of our new Solar product line, along with this huge first sale. Vertical integration utilizing LED and now Solar; combined with our patented wind turbines, have always been the intention of BLDW in becoming a one stop shop, in providing distributed generation (DG) to save energy, and reduce operating costs for all commercial buildings in urban environments. This was the next logical step, with many more to come, in the implementation our plan of becoming a one stop shop for Green Energy Solutions. We look forward to signing new contracts and adding new product lines that will help us grow these steady revenues, and achieve all of our company goals and objectives," stated BLDW CEO, John Graham.
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The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
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