Solar Wind Energy Tower, Inc. (OTCQB:SWET) and its wholly-owned subsidiary, Solar Wind Energy, Inc. is the innovator and creator behind the Solar Wind Downdraft Tower, the only hybrid solar-wind technology in the market today capable of producing an abundant amount of inexpensive electricity.
Solar Wind Energy designed, engineered, and developed its large Solar Wind Downdraft Tower structure utilizing a number of proven technologies and construction systems. Solar Wind Downdraft Towers use benevolent, non-toxic natural elements to generate electricity economically by integrating and synthesizing numerous proven as well as emerging technologies.
Average daily volume is 3.5 million shares per day. Today’s news release has caused shares to trade 100% higher with over 85 million shares traded in the morning market hours.
Solar Wind Energy Tower, Inc. Press Release:
ANNAPOLIS, MD, June 13, 2018 (GLOBE NEWSWIRE) — Solar Wind Energy Tower, Inc.(SWET)(the “Company”), the innovator and creator behind the Solar Wind Downdraft Tower structures capable of producing abundant, inexpensive, renewable electricity to meet the world’s increasing demand, announced today the filing of another patent application.The features and methods of this patent application significantly enhance one of our previously issued patents, and details the expansion of its hydraulically driven generating system to include Hydraulic-To-Air Compressor Converters (HACC) plus the expansion of the existing hydraulic Accumulator to include compressed air energy storage and conversion back to hydraulic energy.
The system adds several positive aspects to the overall performance of the Arizona Tower project. The main feature will be the ability to utilize additionally generated energy during peak performance hours to pump the water from ground level to the water injection system at the top of the Tower. By capturing this additional energy for use during pumping hours, the electricity regularly used to pump the water can be sold into the market resulting in a potential increase in annual sales from 5.2 million megawatt hours to 5.7 million megawatt hours without increasing the original 1750 MW Nameplate Capacity of the plant or adding more generators.
Ron Pickett, CEO, further commented, “We are very excited about this development as it certainly will enhance the overall performance of the Arizona and future Towers. Energy storage can also allow for a more even distribution of output as well as provide for additional base load capability. The patent application also addresses utilizing these features and methods to potentially improve the performance of traditional wind farm turbines. The method includes using hydraulic energy to power generating capability located on the ground with utilization of our currently approved patented techniques. Finally, another provision of the patent application potentially improves the financial performance of our initial designs to salvage abandoned tall stacks and chimneys from expensive demolition and retrofit and repurpose them to produce renewable energy, again using our existing patented techniques.”
About Solar Wind Energy Tower, Inc.
Founded in 2010, Solar Wind Energy Tower, Inc., and its wholly owned commercializing subsidiary, Solar Wind Energy, Inc., is the inventor of the patented Solar Wind Downdraft Tower, which uses state of the art technologies and construction systems to produce abundant, inexpensive electricity, 24 hours a day, 7 days a week.
The Company’s core objective and focus is to become a leading enabler of clean, efficient renewable energy to world communities, at a reasonable cost, without the destructive residuals of fossil fuels, while continuing to generate innovative technological solutions to meet tomorrow’s electrical power needs.
For more information, please visit:
http://www.solarwindenergytower.com, and https://www.facebook.com/solarwindenergytowerand https://twitter.com/SWETower and https://www.arizonagreenpower.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).
Solar Wind Energy Tower, Inc.