"We are pleased to announce this alliance with GBT, which we believe can have strategic value to Zoltek by playing a key role in facilitating and speeding up the whole process of design and development at the leading edge of the wind turbine business," said Zsolt Rumy, Zoltek’s Chairman and Chief Executive Officer. "GBT’s founders are highly regarded in the industry for their expertise in the design and production of advanced wind turbine blades. GBT will be serving original equipment manufacturers in a variety of ways — from design and engineering through various stages of manufacture, including supply of molds and production of prototype blades. We are gratified that GBT has recognized Zoltek’s commercial carbon fibers as the key enabling material in designing and building the most efficient and powerful wind turbines. We look forward to working cooperatively with them to develop customer relationships in this growing global market that will benefit both of our organizations."
Under the agreement, GBT has agreed to actively promote Zoltek carbon fibers in the development of blade designs when the performance parameters require the superior properties of carbon fibers. Zoltek has agreed to offer its low-cost assured supply of high-performance carbon fibers to GBT’s clients who seek design assistance or other technical support in the development and production of the super-long blades used in the most advanced and powerful wind turbines. "We recognized Zoltek’s leadership and proven success in the application of carbon fibers in the wind energy market," said Jan Willem van der Werff, GBT’s President. He added, "GBT believes Zoltek has the best value proposition for users of carbon fibers in wind turbine blades. We are pleased to establish this relationship with Zoltek and expect it will improve our abilities to support our customers’ needs."
This press release contains certain statements that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "expect," "believe," "goal," "plan," "intend," "estimate," and similar expressions and variations thereof are intended to specifically identify forward-looking statements. Those statements include statements regarding the intent, belief or current expectations of us, our directors and officers with respect to, among other things: (1) our financial prospects; (2) our growth strategy and operating strategy, including our focus on facilitating acceleration of the introduction and development of mass market applications for carbon fibers; (3) our current and expected future revenue; and (4) our ability to complete financing arrangements that are adequate to fund current operations and our long-term strategy.