Americas Wind Energy Corp. (AWE) has completed an agreement with EWT- Americas Inc. (EWT) for the exclusive sales and manufacturing rights to the Canadian, U.S., Mexican and related territory markets.
In 2004, AWE acquired the exclusive license for these territory markets along with the nonexclusive license for Central and South America and the Caribbean from Netherlands-based Emergya Wind Technologies BV, to sell and manufacture the Direct Wind 750 kW and 900 kW direct drive wind turbines.
AWE has issued an exclusive sub-license of these rights to EWT, an affiliate of Emergya Wind Technologies and a wholly owned subsidiary of Emergya Wind Technologies Holdings BV, a manufacturer and supplier of wind turbines and turnkey wind parks.
The terms of the transaction include the following:
– AWE sub-licensed to EWT its existing exclusive rights to market in the territory, and the exclusivity of the original license was simultaneously amended to be a nonexclusive license;
– EWT will be the exclusive manufacturer and supplier of EWT wind turbines in the territory;
– AWE can not compete with EWT in the territory and any market that AWE previously had rights under a nonexclusive license; and
– AWE will receive a sub-license fee based on a percentage of EWT business with a predetermined list of present and potential AWE customers in the territory.
AWE plans to continue to participate in other sectors of the renewable energy industry, aided by positive cashflow from this deal, a strong balance sheet and a commitment to growth through mergers or acquisitions.
SOURCE: Americas Wind Energy Corp.
