Mass Megawatts Wind Power Profile
Mass Megawatts Wind Power Inc. produces wind turbines and sells wind generated electricity.
The Product
The company's product is the MultiAxis Turbosystem (MAT). Each MAT consists of a rectangular fabricated steel frame comprising a series of shafts with each shaft comprising a plurality of turbine blades. Each MAT unit is rated at 360 kW, which is large enough to power approximately 100 homes at locations, which have an average annual wind speed of approximately 16 miles per hour. MAT's small blade units eliminate the structural fatigue of longer, heavier blades.
Licensing Rights
Pursuant to a licensing agreement, the company has been granted a sublicense to market, within a limited territory, the MAT and associated technology relative to increasing wind velocity with the use of external walls or structure to improve the flow of air velocity for increasing power output. The MAT includes certain products and technology covered by various applications for the United States Letters Patent, as well as patent grants in the United States and other countries. The limited territory is defined as Massachusetts, New York, New Jersey, Pennsylvania, California, Illinois, Kansas, Michigan, Minnesota, Nebraska, North Dakota, South Dakota, Texas, Vermont, Washington, and Wisconsin.
Research and Development
Research and development costs are charged to operations when incurred and are included in operating expenses. The amounts charged amounted to $13,420 for the year ended April 30, 2014.
Strategy
The company plans to approach the simplest method of initial market penetration and then sell directly to the power exchanges. The company plans to try to avoid difficulties of evaluating wind resources, obtaining sites, financing, and locating potential purchasers of power plants by redeveloping abandoned or obsolete wind farms. The company’s strategy places turbines in high wind areas where the purchase contracts from utilities for wind energy are already available. The company also plans to have strategic alliances with developers of proposed sites and construction companies as the company grows rapidly.
History
The company was founded in 1997. The company, a Massachusetts corporation, was incorporated as Mass Megawatts, Inc. in 1997. It was formerly known as Mass Megawatts Power, Inc. and changed its name to Mass Megawatts Wind Power, Inc. in 2002.
