“This is a transformational transaction for Clipper, bringing substantial capital from a strategic investor who is one of the world’s leading industrial technology companies” said Doug Pertz, President and CEO of Clipper. “We welcome the investment from UTC and their confidence in Clipper’s technology and business opportunities.”
Pertz added “Our relationship with UTC will enable Clipper access to UTC manufacturing, product development, and other industrial processes, while providing Clipper with equity financing to deliver our longer-term strategic goals. Following this transaction, we believe there is a tremendous opportunity for Clipper to grow its share and take its world-class technology to new customers.”
The transaction, subject to terms, conditions and Clipper shareholder and regulatory approvals, is expected to close in mid-January 2010.
United Technologies Corp, based in Hartford, Connecticut, is a diversified company that provides a broad range of high technology products and support services to the building systems and aerospace industries.
Clipper Windpower Plc, www.clipperwind.com, is a company engaged in wind energy technology, turbine manufacturing, and wind project development. The Company designs advanced wind turbines, manufactures its 2.5 MW Liberty wind turbine, and actively develops wind power generating projects in the Americas and Europe. Clipper’s primary offices are in the United Kingdom and in California, USA. The Company’s 330,000 square foot manufacturing and assembly facility, located in Cedar Rapids, Iowa, is ISO9001:2000 QMS Certified. Clipper is a public company listed on AIM of the London Stock Exchange. Clipper’s ticker symbol is CWP.
The ordinary shares of Clipper Windpower Plc are traded on AIM of the London Stock Exchange and are not registered under the U.S. Securities Act of 1933, as amended. Such shares may not be offered or sold to residents of the United States or to persons acting on their behalf, or to other persons who are "United States Persons" within the meaning of Regulation S as promulgated under the Securities Act of 1933, unless such shares have been registered under the Securities Act or there is an available exemption from registration.