Pavilion Energy Resources Proposes Offshore Wind Energy Project for Japan
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Mon, 02 Nov 2009 15:15:55 GMT |
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Pavilion Energy Resources, Inc. |
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LOS ANGELES, CA -- 11/02/09 --
Pavilion Energy Resources, Inc.
(PINKSHEETS: PVRE) announced that it is a 10% equity partner in a joint
venture (JV) that has submitted a multi-billion dollar proposal to the
Japanese government to develop a wind energy project in multiple locations
adjacent to its coastline in the Sea of Japan, Sea of Okhotsk and Pacific
Ocean. The proposal calls for installing at least twenty-five, 10,000
megawatt, wind farms over a twenty-five year period that would generate 250
gigawatts per hour.
The turbines incorporated in the JV's proposal are based on the proprietary
wind accelerating technology invented by Peter Sterling, Pavilion's
President and Chief Executive Officer. These turbines generate 400% more
turbine power per dollar of capital than existing technology. This
technology makes very-large-scale, offshore, wind power farms with slower
average wind speeds more than economical.
Peter Sterling, President and Chief Executive Officer of Pavilion,
commented, "Japan currently imports essentially all its energy. Once
completed, this project would generate enough clean, renewable energy to
replace up to five million barrels of oil imports per day at a more
competitive cost than any other generating technology. Further benefits
include lower future carbon tax payments and new local jobs for the design,
fabrication and installation of new wind power technology and for operation
and maintenance of the wind farms."
About Pavilion
Pavilion Energy Resources, Inc. (PINKSHEETS: PVRE) is an emerging, energy
development company focused on developing large-scale, wind power projects
in the US and abroad. Current wind power proposals are pending in
California, Oregon, Texas and Japan. Wind power is capable of providing the
world with a substantial portion of the affordable, zero carbon electricity
required during the next millennium. PVRE has rights to a new wind turbine
design which promises to deliver a 400% increase in electricity per unit of
capital versus current designs. PVRE plans to leverage this turbine
technology to secure leases of large wind-farm acreage in regions with
substantial energy usage and then develop mega-scale wind projects.
This Press Release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, Section 21E of the Securities
Exchange Act of 1934, as amended, and the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements include, but are not
limited to, statements regarding our current business plans, strategies and
objectives that involve risks and uncertainties that could cause actual
results to differ materially from anticipated results. The forward-looking
statements are based on our current expectations and what we believe are
reasonable assumptions. However, our actual performance, results and
achievements could differ materially from those expressed in, or implied
by, these forward-looking statements. Factors, within and beyond our
control, that could cause or contribute to such differences include, among
others, the following: risks associated with resource exploration,
competition, management of growth, new products, services and technologies,
potential fluctuations in operating results, international expansion,
commercial agreements, acquisitions and strategic transactions, government
regulation and taxation.
For further information, contact:
Peter Sterling
President and Chief Executive Officer
(323) 356-7777
Email Contact
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