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Cleanfield Reports Record Revenue in Third Quarter Fiscal 2010 - Sales revenues almost four times the previous quarter
TORONTO, March 9, 2010 - Cleanfield Alternative Energy Inc. ("Cleanfield", TSX-V: AIR), an international leader in Vertical Axis Wind Turbine (VAWT) technology solutions, announced today that it reported record sales revenues of approximately $598,000 in its third quarter ended February 28, 2010. These revenues compare to $153,910 in the previous quarter and $17,882 in the third quarter last year.
Several factors led to third quarter revenues exceeding the total recorded in all of FY09:
UL Certification of our V3.5 wind turbine allowed for commercial sales in the United States;
Increasing demand from institutional and commercial building owners wishing to demonstrate sustainable development and corporate social responsibility by using renewable energy;
Growing recognition that Cleanfields V3.5 VAWT is best-in-class technology;
Use of our VAWTs for a growing number of building owners seeking LEED(R) accreditation; and,
The increasing trend toward point-of-use energy production (distributed energy).
Cleanfield CEO Tony Verrelli said, "After years of R&D, testing, certification and marketing for our core product, the V3.5 wind turbine, we are very pleased to see a surge in sales. In addition, we are also glad to see that our sales in Q3 were broad-based with sales to institutional and commercial customers in two Canadian provinces and four US states."
About Cleanfield: We are committed to developing renewable energy products for the urban environment. Cleanfield produces an industry-leading VAWT, which can be installed in various ways, produces green renewable energy quietly and cost effectively and which is sold worldwide. We also provide purchase financing to qualified customers, and are developing solar photovoltaic products for commercialization
Forward Looking Statements: Certain statements in this news release may be considered to be forward-looking. These statements relate to future events or Cleanfields future economic performance and reflect the current assumptions and expectations of management. Unknown factors may affect the events, economic performance and results of operations described herein. Cleanfield undertakes no obligation, and does not intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable law.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
For further information: Go to or contact Tony Verrelli, CEO, Cleanfield, (905) 304-5223,
Click Here for a Free Real-time Stock Quote on TSX-V: AIR
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