November 21, 2005 13:30 ET
McKenzie Bay and Bradford Dyeing Association, Inc. Sign Power Purchase Agreement
FARMINGTON HILLS, MI -- (MARKET WIRE) -- November 21, 2005 -- McKenzie Bay International, Ltd.
(OTC BB: MKBY) is pleased to announce that its wholly owned subsidiary,
WindStor Power Co. "WPC," has entered into a Power Purchase Agreement "PPA"
with the Bradford Dyeing Association, Inc. If all of the conditions to the
agreement are satisfied, WPC's WindStor® will produce and distribute
electricity, generated by WindStor® Wind Turbines, directly to the
Bradford Dyeing Association, Inc. in Bradford, Rhode Island.
Subject to the terms of the PPA, Bradford Dyeing will purchase electricity
generated and distributed by WindStor® at a fixed rate for twenty years,
providing an immediate hedge against utility rate increases. Additionally,
no capital expenditure will be required by Bradford. WPC will build, own,
operate and maintain WindStor®.
Bradford Dyeing Association, Inc. is a privately owned textile finishing
plant, established in 1911 as a commissioned dyer and printer, and is
housed in over 500,000 square feet of manufacturing space. Bradford's
primary production commitment is to the Military and Government sectors and
it is currently the largest producer of Battle Dress Uniform fabrics to the
U.S. Dept. of Defense and the sole source for the JS List Chem Suit Outer
Shell Fabric.
WPC Sales Representative, Acela Energy Group Inc, a Norwood,
Massachusetts-based Strategic Energy Procurement Consulting Firm, sourced
the transaction. Richard Costello, Acela President said, "Bradford Dying
Association has a long, exceptional history in the State of Rhode Island
and continues to prosper by making prudent business decisions, such as the
installation of a WindStor Wind Turbine, to increase its energy diversity,
as well as helping to promote a clean the environment."
Prior to finalizing the system configuration and installing WindStor®,
WPC will complete site-specific due diligence pursuant to the PPA with
Bradford, including: mast height for the optimal wind regime; required
zoning and permits; geotechnical composition and any regulatory or
governmental authorization. WPC will then submit a final pricing structure
to Bradford. Upon acceptance, WPC will complete financing arrangements to
procure the additional funding that will be necessary for completion of the
installation. Although WPC is pursuing potential sources of the funds
necessary for installation, there can be no assurance that it will be able
to acquire the funds on terms favorable to WPC, if at all or that all of
the conditions to the agreement can or will be satisfied.
WindStor Power Co. is the owner and operator of WindStor®, a wind energy
system designed to integrate distributed generation, installed on or near
urban buildings, with grid, off-grid and other power sources. WindStor®
features a patent pending vertical-axis WindStor® Wind Turbine and a
"proprietary" system integrator.
For further information about this release contact the following:
Investor Relations - Richard Kaiser - 800-631-8127
info@yesinternational.com
McKenzie Bay International, Ltd & WindStor Power Co - 248-489-1961
info@mckenziebay.com
Acela Energy Group - Richard Costello - 781-255-0316 -
richard.costello@acelaenergy.com
This information statement contains statements that are forward-looking
statements. In some cases, you can identify forward-looking statements by
terminology such as 'estimates,' 'anticipates,' 'plans,' 'believes,'
'projects,' 'expects,' 'intends,' 'predicts,' 'future,' 'may,' 'potential,'
'contemplates,' 'will,' 'should,' 'could,' 'would' or the negative of such
terms or other comparable terminology. These statements relate to the
Company's future operations and financial performance or other future
events. These statements are only predictions and not guarantees of future
success. Many of the forward-looking statements are based on assumptions
about future events that may prove inaccurate. Actual events, results,
performance or achievements may differ materially from the events, results,
performance or achievements discussed in the forward-looking statements.
McKenzie Bay undertakes no obligation to revise, update or clarify
forward-looking statements to reflect events or conditions after the date
of this information statement.