Clipper Windpower Appoints Andrew Mathews As Vice President of Wind Turbine Financing
Clipper Windpower today announced the appointment of Andrew Mathews as Vice President of Wind Turbine Financing. In this role, Mathews will hold responsibility for the due diligence process associated with financing Liberty 2.5 MW wind turbines. Mathews will be based in New York.
Carpinteria, California (PRWEB) May 27, 2009 -- Clipper Windpower, Inc. ("Clipper") today announced the appointment of Andrew Mathews as Vice President of Wind Turbine Financing. In this role, Mathews will hold responsibility for the due diligence process associated with financing Liberty 2.5 MW wind turbines. Mathews will be based in New York.
"Andrew brings to Clipper a strong, in-depth understanding of what financial institutions require within their due diligence process," said Bob Gates, Clipper's Sr. Vice President of Commercial Operations. "He will be a valuable asset to Clipper, and also to our customers who now have the benefit of high-level, knowledgeable assistance as they work with financial institutions through the process of financing Liberty turbines. We are delighted to have him on board."
Mathews joins Clipper after twelve years with HVP/UniCredit where he served as head of the project finance origination team out of its New York office.
"I'm certainly pleased to be a part of the green movement as we prepare to bring many thousands of new megawatts of wind energy online in the U.S. over the coming years," said Mathews. "Clipper has a unique turbine design that lowers the long-term maintenance costs to project owners. "We want people to know that the Liberty turbine has undergone its early development cycle, and, with first production issues behind, is achieving industry-standard availability and is well placed to capture a larger share of the upcoming wind market growth," he added.
The Liberty Series wind turbines, designed to address current industry gearbox and other component issues, mitigates gearbox stresses through Clipper's patented Quantum Drive® Distributed Generation Power-train. The Clipper units also offer proprietary variable speed operation in a more efficient manner than today's standard wind turbines. Clipper's permanent magnet generator technology delivers higher power-train efficiency, and a 2-ton on-board crane simplifies maintenance and significantly reduces associated costs. The 2.5 MW Liberty turbine installation can be accomplished with a crane sized for most commercial 1.5 MW units. At a 2.5 MW capacity, the Liberty machine is the largest wind turbine built in the United States.
About Clipper Windpower
Clipper Windpower ("Clipper"), www.clipperwind.com, is a company engaged in wind energy technology, turbine manufacturing, and wind project development. With offices in the United Kingdom, United States of America (California, Colorado, Iowa, and Maryland), Denmark, and Mexico and an ISO9001:2000 QMS Certified, 330,000 square foot manufacturing and assembly facility located in Cedar Rapids, Iowa, Clipper designs advanced wind turbines, manufactures its 2.5 MW Liberty wind turbine and actively develops wind power generating projects in the Americas and Europe. Clipper is a public company listed on the London Stock Exchange's Alternative Investment Market (AIM). Clipper's ticker symbol is CWP.
The ordinary shares of Clipper Windpower Plc are traded on the Alternative Investment Market of the London Stock Exchange and are not registered under the U.S. Securities Act of 1933, as amended. Such shares may not be offered or sold to residents of the United States or to persons acting on their behalf, or to other persons who are "United States Persons" within the meaning of Regulation S as promulgated under the Securities Act of 1933, unless such shares have been registered under the Securities Act or there is an available exemption from registration.
For more information contact:
Mary Gates
Director, Global Communications
Clipper Windpower, Inc.
6305 Carpinteria Avenue, Suite 300
Carpinteria, CA 93013
(main) 805.690.3275
(direct) 805.576.1323
(fax) 805.899.1115
(mobile) 661.301.0400
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