Guess The Index

Clean Wind Energy Tower, Inc. Transitions from a Research and Development Stage Company

ANNAPOLIS, Md., Sept. 27, 2011 /PRNewswire via COMTEX/ — Clean Wind Energy Tower, Inc. (OTCBB: CWET, the “Company”), announced today that the Company is closing their internally staffed engineering office in Warrenton, Virginia and transitioning to a Development Team that will oversee and coordinate the efforts of industry consultants and advisors to develop and construct their first Dual Renewable Energy Tower.

Ron Pickett, President & CEO stated: “In recent months the Company has needed to seek numerous consultants with outside expertise beyond the disciplines of our in-house engineering staff. Management believes that as the Company commences the transition from a “Research and Development Stage” company to the actual development of our first project, the best course of action is to seek the advice of well recognized world class industry participants to work with our Company to bring our Dual Renewable Energy Tower to market. For example, during the past year we have been working very closely with Kroll Cranes, a subsidiary of Muhibbah Engineering, in our planning and research phase as well as consulting with professors from several well recognized universities.”

Management has accepted the resignations, effective September 20, 2011, from John Hanback, Chief Technology Officer, Itzhak Tepper, P.E. Chief Structural Engineer and Christopher Johnson, Program Manager, Research Engineer. Management anticipates that there may be disputes from former employees; however the CWET Board of Directors has concluded that it is in the mutual best interest of the shareholders and the Company to move forward in this new direction.

About Kroll Cranes

Kroll Cranes A/S, a member of the Muhibbah Engineering Group, is situated in Denmark on the outskirts of Copenhagen. The company has had over 40 years experience in Tower Crane design and manufacture; supply, trade, lease, and servicing of offshore oil and gas pedestal cranes, tower cranes, shipyard cranes, and other heavy lifting equipment cranes.

About Muhibbah Engineering

Muhibbah Engineering (M) Bhd., incorporated in 1972 and headquartered in Klang, Malaysia engages in infrastructure, civil and structural engineering contract works in Malaysia and internationally. The company’s Infrastructure Construction segment involves the construction of petroleum hub and bunkering facilities, oil and gas terminals, liquefied natural gas jetty works, marine ports, bridges and dams, airport terminals, runway and facility support buildings, heavy concrete foundations, and other similar construction works.

About Clean Wind Energy, Inc.

Clean Wind Energy, Inc. a wholly owned subsidiary of Clean Wind Energy Tower, Inc, has designed and is preparing to develop, and construct large “Downdraft Towers” that use benevolent, non-toxic natural elements to generate electricity and clean water economically by integrating and synthesizing numerous proven as well as emerging technologies. In addition to constructing 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 clean water and electricity. Clean Wind has assembled a team of experienced business professionals, engineers and scientists with access to the breakthrough energy research upon which this technology is founded and the proven ability to bring the idea to market. Clean Wind has filed several patents that the Company believes will further enhance this potentially revolutionary technology. Clean Wind Energy, Inc. is based in Annapolis, MD, and is traded on the OTCBB under the symbol ‘CWET’. For more information, please

Company Contact:Clean Wind Energy, Inc.1997 Annapolis Exchange Parkway Suite 300Annapolis, Maryland 21401Phone: 410-972-4713E-mail:

Investor Relations Contact:Jody JansonPhone: (855) 848-6937Email:

Public Relations Contact:Michael J. Porter, President,Porter, LeVay & Rose,, (212) 564-4700

Cautionary Note Regarding Forward-Looking Statements

Statements included in this release may constitute “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 net revenues 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).

Comments are closed.

Ads by

        fx:     'scrollDown', 
        easing: 'bounceout', 
        delay:  -4000 
Wind Energy Stocks
XPWR.OBN/A  chartN/A
OTTR40.90  chart -0.97%
NEE143.14  chart +1.09%
JUHL.OBN/A  chartN/A
GE27.57  chart +0.07%
HLXW.PKN/A  chartN/A
SENY.OBN/A  chartN/A
ASPW.OBN/A  chartN/A
AMSC4.48  chart -0.22%
INDUN/A  chartN/A
NASDAQ6265.2495  chart +0.46%
S&P 5002438.30  chart +0.16%
1970-01-01 00:00
Join Our Newsletter
* = required field