Renewable Energy Stock Alert: Solar Wind Energy Tower, Inc. (SWET) Closes up 13.57% on News
Solar Wind Downdraft Tower Company Reports it Activates Equity Facility Agreement Commitment of $3,000,000
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New York, NY, Point Roberts, WA - October 30, 2013 (Investorideas.com renewable energy stocks newswire) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector research for independent investors, reports on renewable energy stock Solar Wind Energy, Inc. (OTCQB: SWET). The stock closed trading on Tuesday up 13.5% on over 900,000 shares.
The company, the inventor of a large Solar Wind Downdraft Tower, reported that its Equity Facility to fund up to $3,000,000 from Beaufort Ventures, PLC is now effective and Solar Wind Energy may access the funds under the terms of the agreement.
Earlier this summer on July 15th, the Company announced it had received the commitment for the Equity Facility from Beaufort. Under the terms of the commitment, the Company was required to file an S-1 Registration Statement with the SEC. The Company was notified by the SEC that there were no further comments and the Registration Statement has now been declared "Effective" which allows the Company to access Equity Facility funding.
Tanvier Malik, Director of Beaufort Ventures, PLC commented: "Beaufort is pleased to play a role assisting Solar Wind Energy to bring its amazing clean alternative energy solution to the market. Beaufort Ventures looks to invest in Companies that have a viable business model where we can assist in both short term and long term goals. We have been familiar with the management of Solar Wind for many years and believe that this potentially "game changing" energy solution under the direction of this management truly has the potential to make a global impact."
Full news: http://finance.yahoo.com/news/solar-wind-energy-tower-inc-123000408.html
About Solar Wind Energy, Inc.
Solar Wind Energy, Inc. ("Solar Wind Energy"), a wholly owned subsidiary of Solar Wind Energy Tower, Inc., was established to utilize proven and validated scientific principles, combining them with state of the art construction systems to enable the development and commercialization of large Solar Wind Downdraft Tower structures that produce abundant, inexpensive electricity. Our Company's core objective and focus is to become a leading enabler of clean, efficient green energy to the world communities, at a reasonable cost, without the destructive residuals of fossil fuels, while continuing to generate innovative technological solutions for tomorrow's electrical power needs. The Company intends to establish partnerships at home and abroad to propagate Tower Projects and meet the increasing global demand for electricity. The Company does not intend to own the projects. The business plan includes receiving license 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. Solar Wind Energy has filed and been issued patents that the Company believes will further enhance this potentially revolutionary technology. Solar Wind Energy, Inc., based in Annapolis, MD, is traded on the OTCQB under the symbol 'SWET'. For more information visit www.solarwindenergytower.com
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