25 Mar '12, 2pm

Clean Wind Energy Tower Shares Plunge as Downdraft Tower Construction Plans Proceed

Clean Wind Energy Tower Shares Plunge as Downdraft Tower Construction Plans Proceed

Clean Wind Energy Tower on March 22 announced the selection of the site of its first two Downdraft Towers, a novel, virtually zero-carbon renewable energy system that the company says will use both induced and natural wind energy to generate electricity at a utility-scale. Management has chosen San Luis, Arizona to build the first two Downdraft Towers, which they say will reliably produce a net 1,100-1,500 megawatts per hour of clean, renewable electricity for sale on to the grid. The news comes as the publicly-listed, Annapolis-based company is going through some financial turmoil, however. Having gone public on the Nasdaq OTC Bulletin Board (OTCBB) through a reverse merger with a defunct, already listed company, its shares have taken a nose dive on heavy volume in the past 1-1/2 months, trading from a high of 21 cents down to about 4.5 cents per share as of market close ...

Full article: http://cleantechnica.com/2012/03/25/clean-wind-energy-tow...

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