ANNAPOLIS, MD — (Marketwired) — 10/08/14 — (OTCQB: SWET) (the “Company”) announced that today, October 8, 2014, the Securities and Exchange Commission (the “SEC”) declared effective as of 3:00 pm the Company–s registration statement (File No. 333-197574) on Form S-1 relating to the resale of up to 125,000,000 shares of the Company–s common stock by certain selling stockholder.
Ronald Pickett, CEO, Solar Wind Energy Tower, Inc., commented: “We are pleased that the SEC has declared our Form S-1 effective. The Company is now proceeding with additional funding from JDF Capital Inc. which is contingent upon the effectiveness the registration statement.”
The offering of these securities may only be made by means of a prospectus. A registration statement relating to these securities has been declared effective by the SEC. An electronic copy of the prospectus may be obtained from the SEC website at .
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the Company–s securities, nor there be any sale of these securities in any state in which offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Founded in 2010, Solar Wind Energy Tower, Inc. and its wholly owned commercializing subsidiary, Solar Wind Energy, Inc., is the inventor of the patented Solar Wind Downdraft Tower, which uses state of the art technologies and construction systems to produce abundant, inexpensive electricity, 24 hours a day, 7 days a week, and the Energy Generation Calculator software which can calculate and predict energy production of a Tower given a site–s local weather data. The Company secured the site for its first Tower project in the U.S. in the City of San Luis, Arizona which may be ready for operation as soon as 2018. Under the most recent design specifications, the first Tower in San Luis, Arizona has a design capacity on an hourly basis of up to 1,250 megawatt hours, gross. The Company is also focused on licensing its development know-how and establishing partnerships at home and abroad to propagate Tower development projects in return for licensing fees for territories, development fees during construction, and recurring royalty fees based on the actual kilowatt hours produced by the Tower. Solar Wind Energy has assembled a team of experienced business professionals, engineering and scientific consultants with the proven ability to bring this solution to market.
The Company–s core objective and focus is to become a leading enabler of clean, efficient renewable energy to world communities, at a reasonable cost, without the destructive residuals of fossil fuels, while continuing to generate innovative technological solutions to meet tomorrow–s electrical power needs. Solar Wind Energy has filed and been issued patents that the Company believes will further enhance this potentially revolutionary technology. Solar Wind Energy Tower, Inc., based in Annapolis, MD, is traded on the OTCQB under the symbol “SWET.”
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Statements included in this release may constitute “forward-looking statements.” Actual results may differ materially from those projected in forward-looking statements. Such statements involve a number of risks and uncertainties such as competitive factors, technological development, market demand and the Company–s ability to obtain new contracts and accurately estimate revenues, if any, due to variability in size, scope and duration of projects, and internal issues in the sponsoring client. Further information on potential factors that could affect the Company–s financial results, can be found in the Company–s various filings with the Securities and Exchange Commission (SEC).
Solar Wind Energy, Inc.
1997 Annapolis Exchange Parkway Suite 300
Annapolis, Maryland 21401
Phone: 410-972-4713
E-mail: