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Deep Offshore Wind Farms
7 Sep 2004
Deep Offshore Wind Farms - Atlantis Power LLC Offers 45% Equity to
Raise USD2million in Seed CapitalDeep Offshore Wind Farms -
Atlantis Power LLC Offers 45% Equity to Raise USD2million in Seed
Capital Atlantis Power LLC is offering 45% of it's equity for
USD2million in order to raise equity capital to finalise design of
it's Trident class of deep offshore platform for wind turbines
operational in up to 120m of ocean. September 7, 2004 -- Offshore
Source LLC of Texas and Innovaxin Consulting of Malta, have today
announced their 45% sale in shareholding in Atlantis Power LLC
aimed at raising USD2m capital to kick-off the commercial process
in launching the first deep offshore wind farm operating in up to
120m of water and sustaining three 2MW wind turbines. "The sale is
necessary to ensure that the company raises enough capital to
commercialize and refine the design. We already are working on the
first deep offshore wind farm. Considering that over 80% of the
world's coastal waters are beyond the reach of conventional
gravitational permanent wind farms the potential for the Trident
Class platform is enormous." said Douglas Hines President of
Offshore Source when addressing the media. Offshore wind farms are
inherently a permanent structure. Maintenance has to be done out at
sea. using specialized heavy lift equipment. Even their
construction is a complex civil engineering operation that has to
be done offshore. With the Trident Class deep offshore platform,
wind farms operators have the possibility to assemble the platform
with the wind turbines along dock and tow it to the site using no
expensive heavy lift floating cranes. Critical maintenance can be
done along dock and eventually decommissioning is a question of
jacking down the platforms and towing them away. "Deep offshore
wind farms are the ideal candidate for densely habited coastal
cities or islands. Offshore wind is some 5 to 10% more stronger.
Aesthetic effect is minimized. Impact on the environment is nearly
negligible. Most importantly the cost of the platform and their
siting and commissioning is comparable with that of their onshore
cousins when including cost of land acquisition, road building and
landscaping. The premium offshore wind tops up the difference and
make deep offshore wind farms highly cost effective and efficient
operations" concluded Joe Meilak Chairman of Innovaxin Consulting.
More information is available by contacting the company at
admin@atlantispower.com Statement of fact for Press Releases:
Certain matters discussed in this press release are forward-looking
statements intended to qualify for the safe harbors from liability
established by the Private Securities Litigation Reform Act of
1995. These forward-looking statements can generally be identified
as such because the context of the statement will include words
such as the company believes, anticipates, expects or words of
similar import. Similarly, statements that describe the companys
future plans, objectives or goals are also forward-looking
statements. Such forward-looking statements are subject to certain
risks and uncertainties which could cause actual results to differ
materially from those currently anticipated. In addition to the
assumptions and other factors referenced specifically in connection
with such statements, the following could impact the business and
financial prospects of the Company: factors affecting the Companys
international operations, including fluctuations in currencies,
changes in laws and political or financial insecurity of foreign
governments; factors affecting the Companys ability to hire and
retain competent employees, including unionization of non-union
employees and strikes or work stoppages; factors affecting the
economy generally, including an economic slowdown and other
conditions that could reduce demand for the Companys products;
decrease in stock price as a result of market conditions; changes
in the law or standards applicable to the Company, including
environmental laws and accounting pronouncements; availability of
raw materials; unanticipated technological developments that result
in competitive disadvantages and may impair existing assets; and
factors set forth in the Companys periodic reports filed with the
SEC in accordance with the Securities Exchange Act. Shareholders,
potential investors and other readers are urged to consider these
factors and those set forth in the company's filings with the SEC
carefully in evaluating the forward-looking statements. The
forward-looking statements made herein are only made as of the date
of this press release and the company undertakes no obligation to
publicly update such forward-looking statements to reflect
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