WOODSTOCK, Minn.--(BUSINESS WIRE)--Juhl Wind Inc. (OTCBB: JUHL), the Leader in Community Wind Power, today announced that its Next Generation Power Systems subsidiary (“NextGen”) has recently completed a $1 Million License and Distributorship Agreement with SureEnergy of Ohio. The agreement covers the territories of Indiana, Michigan and Ohio. Under the terms of the Agreement, NextGen provided its first-ever exclusive territory distributorship along with the rights to manufacture its 33 kW on-site, small wind turbine system. Management will discuss the arrangement as well as its progress on large wind farms on its Quarterly Review conference call later today – details of the call appear below.
“As we reported earlier this year, our NextGen small turbine business has been growing rapidly and as a result, we felt that gaining a second manufacturing capability through this arrangement made good practical sense,” stated Dan Juhl, CEO of Juhl Wind. “We are now on track to ship over $1 Million of NextGen orders from our Pipestone, MN facility for 2009 and we are obtaining new dealers on a regular basis. That will represent a 120% growth rate from 2008 and we expect another year of very solid growth for this business unit in 2010.”
“When we reported the growth we were seeing at NextGen earlier this summer, we indicated that we were taking aggressive steps to strengthen the business unit to take further advantage of the sizable market opportunity available to us in small wind and solar systems,” added John Mitola, President of Juhl Wind. “These steps centered upon the recruitment of new dealers and distributors and plans to expand our manufacturing capabilities in the future – and, this arrangement was one of the key elements. With this transaction, we receive $1 million in fees and set the stage for additional manufacturing. Once SureEnergy is up and running with their manufacturing, we expect that their capacity coupled with expansion at our Pipestone facility will provide sufficient manufacturing capability well into the future. The SureEnergy folks are a great group of people and we expect to have solid mutual success between our organizations. In addition, we are laying the foundation for how we will approach future dealer and distributorship arrangements.”
Juhl Wind Management will discuss this arrangement and its 2009 second quarter financial results and provide a business update after the market close today, August 27th, 2009.
Time: 4:00 p.m. Eastern Time (1:00 p.m. Pacific)
Date: Thursday, August 27th, 2009
Live Participant Dial-In (Toll Free): (877) 407-9210
Live Participant Dial-In (International): (201) 689-8049
Live Webcast: http://www.investorcalendar.com/IC/CEPage.asp?ID=148742
A replay of the teleconference will be available until September 10th 2009 and can be accessed by dialing (877) 660-6853 if calling within the United States or (201) 612-7415 if calling internationally. Please enter account # 286 and conference ID # 330928 to access the replay. The webcast presentation will be archived within the “Investor Info” section of Juhl Wind’s home page located at www.juhlwind.com.
About Juhl Wind Inc.
Juhl Wind is an established leader in Community Based Wind Power development and management, focused on wind farm projects throughout the United States and Canada. Juhl Wind pioneered community-based wind farms, developing the currently accepted financial, operational and legal structure providing local ownership of medium-to-large scale wind farms. To date, the Company has completed 14 wind farm projects and provides operations management and oversight across the portfolio. Juhl Wind services every aspect of wind farm development from full development and ownership, general consultation, construction management and system operations and maintenance. With its acquisition of Next Generation Power Systems (“NextGen’), Juhl Wind now provides full sales and service to smaller, on-site wind and solar projects in addition to our larger Community Wind Farms. Juhl Wind is based in Woodstock, Minnesota and is traded on the OTCBB under the symbol JUHL.OB. Additional information is available at the Company’s website at www.juhlwind.com or by calling 877-584-5946 (or 877-JUHLWIN).
FORWARD LOOKING STATEMENTS
This news release includes forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including statements that reflect Juhl Wind’s current expectations about its future results, performance, prospects and opportunities. Juhl Wind has tried to identify these forward-looking statements by using words and phrases such as “may,” “will,” “expects,” “anticipates,” “believes,” “intends,” “estimates,” “plan,” “should,” “typical,” “preliminary,” “hope,” or similar expressions. These forward-looking statements are based on information currently available to Juhl Wind and are subject to a number of risks, uncertainties and other factors that could cause Juhl Wind’s actual results, performance, prospects or opportunities in the remainder of 2009 and beyond to differ materially from those expressed in, or implied by, these forward-looking statements including any risks associated with the execution of the NextGen License and Distributorship arrangement described herein. These risks are referenced in Juhl Wind’s current 8K, 10K and 10Qs as filed or as may be described from time to time in Juhl Wind’s subsequent SEC filings; and such factors as incorporated by reference.