Juhl Wind Partners With Honeywell On U.S. Department Of Energy Project
WOODSTOCK, Minn., March 11 /PRNewswire-FirstCall/ -- Juhl Wind Inc. (OTC Bulletin Board: JUHL), the Leader in Community Wind Power, today announced that Juhl Wind and Honeywell International have been awarded a United States Department of Energy program to test the application of an advanced "Condition Monitoring System" to provide remotely controlled data monitoring for turbine maintenance. Within the project, Honeywell will be providing technology which is designed to improve reliability and reduce maintenance costs of turbine systems and Juhl will be providing the field application, installation, monitoring and support.
"We're very excited to move forward with this Department of Energy project and to be working with Honeywell on such an advanced system," stated Dan Juhl, CEO of Juhl Wind. "Juhl has worked with a variety of industry leaders and federal and state officials in the past, but this is the first federal project in which we'll have an active role. This represents the strength of our growing wind farm operations and maintenance business."
"We currently provide administrative, operations and maintenance services for many of the wind farms we've already developed and we intend to provide these same services for a majority of our new projects," Juhl continued. "If we can find a reliable technology, like Honeywell's condition monitoring system, our maintenance business will be much more competitive while we also improve the level of reliability we provide our wind farm owners. We expect this portion of our business to grow significantly during the next few years."
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 2010 and beyond to differ materially from those expressed in, or implied by, these forward-looking statements and specifically those statements referring to new projects like the GL Wind project mentioned herein. New projects are subject to large, third party risks that may not be in control of Juhl Wind including the availability of project equity, debt financing and wind turbines and risks associated with project timing. These risks are referenced in Juhl Wind's current 8K or as may be described from time to time in Juhl Wind's subsequent SEC filings; and such factors as incorporated by reference. SOURCE Juhl Wind Inc.
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