Catch the Wind will outsource production and acquires aircraft

Catch the Wind Ltd. has announced that it has entered into a manufacturing services agreement and will outsource the production and assembly of its Vindicator Laser Wind Sensor (LWS) to BreconRidge Corporation, a provider of collaborative design and manufacturing services.

Under the terms of the manufacturing services agreement signed by both companies, BreconRidge will produce and assemble the Vindicator LWS at its manufacturing facilities in Ottawa, Canada.? BreconRidge will also provide technical, engineering, design and other professional services related to the manufacture of the Vindicator LWS.

Catch the Wind Ltd. also announced that it has acquired a majority ownership interest in an aircraft in order to improve the efficiency of its business operations and accelerate its business plan. Catch the Wind’s share of the acquisition cost of the aircraft is US$ 3.75 million, of which 92% will be financed through long-term financing over a period of 10 years provided by General Electric on terms that Catch the Wind considers to be favourable. The aircraft will be used to transport the Company’s engineering staff, laser sensor units, and requisite installation and maintenance equipment to remote locations in support of business development, customer support and field trial activities, as well as for other business purposes.