Juhl Wind Inc. announced earlier today that its Next Generation Power Systems subsidiary (NextGen) completed a $1 Million License and Distributorship Agreement with SureEnergy, covering Indiana, Michigan and Ohio. As agreed, NextGen provided its first-ever exclusive territory distributorship along with the rights to manufacture its 33 kW on-site, small wind turbine system. According to the press release, the management team will be discussing the arrangement as well as its progress on large wind farms during its Quarterly Review conference call later today.
“As we reported earlier this year, our NextGen small turbine business has been growing rapidly and as a result, we felt that gaining a second manufacturing capability through this arrangement made good practical sense,” stated Dan Juhl, CEO of Juhl Wind. “We are now on track to ship over $1 Million of NextGen orders from our Pipestone, MN facility for 2009 and we are obtaining new dealers on a regular basis. That will represent a 120% growth rate from 2008 and we expect another year of very solid growth for this business unit in 2010.”
“When we reported the growth we were seeing at NextGen earlier this summer, we indicated that we were taking aggressive steps to strengthen the business unit to take further advantage of the sizable market opportunity available to us in small wind and solar systems,” added John Mitola, President of Juhl Wind. “These steps centered upon the recruitment of new dealers and distributors and plans to expand our manufacturing capabilities in the future – and, this arrangement was one of the key elements.
He continued, “With this transaction, we receive $1 million in fees and set the stage for additional manufacturing. Once SureEnergy is up and running with their manufacturing, we expect that their capacity coupled with expansion at our Pipestone facility will provide sufficient manufacturing capability well into the future. The SureEnergy folks are a great group of people and we expect to have solid mutual success between our organizations. In addition, we are laying the foundation for how we will approach future dealer and distributorship arrangements.”
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