The Company presented this agenda during an "Accreditation Meeting on Ten-Year Development Planning" to a panel of assessors assembled specifically for the accreditation proceedings. The group was made up of national experts and state leaders from the Chinese Academy of Engineering, National Ministry of Science & Technology, Ministry of Industry and Information, China’s Sustainable Development Research Institute and National Energy Advisory Committee of Experts. The panel undertook a number of in-depth discussions on the planning proposal and adopted unanimous approval of the plan as proposed.
Most large enterprises in China, especially when working closely with multiple levels of government, develop multiyear planning strategies in order to identify local, regional, social or economic issues, to aid in consensus building and to put forward for analysis and accreditation their strategic aims to a committee of experts for approval. This system has contributed greatly towards much of the rapid industrial growth the nation has enjoyed in recent years.
During the session, the Chairman of GC China Turbine, Mr. Hou Tiexin, presented the Ten-Year Development Plan to the audience of industry assessors. He announced that the Company will spare no effort towards building itself into a "Two-Pronged" enterprise, actively implementing proposed technology improvements aimed at nurturing the wind power sector and ensuring industrial chain growth through the construction of a number of key projects both at home and abroad. Mr. Tiexin further shared on plans to develop clearly recognized brand superiority as a nationally recognized and economically successful company with a commitment to sustainable development and environmentally sound practices.
The participants at the event were vocal in their agreement that the Company was making excellent progress in the area of wind energy, sustainable manufacturing and smart power grid planning for the region.
In a final statement, the Company expressed that, "In the next decade, the Company will achieve a rapid program of development based on these plans. In accordance with our aims as a resource-saving and environmentally friendly enterprise, the Company adheres to our mission of ‘Producing new energy at the same cost or better than conventional energy’ and to continuously improve our global efforts towards developing the lowest-cost and technologically superior 2-bladed wind turbine in order to make GC China Turbine a world leader in the sector and as a pioneering environmentally-conscious, model corporate citizen."
Additional details regarding the Company and its business, financial condition and management of GC China and related parties are filed as part of the Company’s continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission’s ("SEC") EDGAR database.
Even though 2-Blade technology is currently less visible in the wind power sector, the development project that created GC China Turbine Corp.’s technology has been operating for 10 years with 98% electrical generation availability. Furthermore, the GC China technology benefits include lower manufacturing cost, lower installation cost and lower operational costs. GC China Turbine Corp. products are uniquely superior to the current commercial designs.
The 2-bladed wind turbine is manufactured utilizing a number of complementary technologies incorporating engineering innovations such as independent blade and tower flexibility delivering revolutionary overall load damping characteristics, a highly compact and lightweight transmission system and proprietary real-time, reactive monitoring technologies. These key elements combine to reduce vibration and overheating, lower installation and transportation costs, improve service life and extend the generated output lifecycle of the product. The resulting benefits deliver where it counts… high quality and lowered costs from manufacture to installation and maintenance.
GC China’s “Soft Technology” combines a passive yaw system, “teeter” style hub, and a flexible, lightweight “soft” tower. By using the integrated Soft Technology as a damping system to manage vibration and system loads, GC China Turbine Corp. can produce a transmission chain that isn’t required to absorb these massive forces. Therefore, the proprietary Transmission Chain is significantly simpler and compact, cheaper and inherently more reliable than other current commercial designs in the rapidly growing mega watt turbine class.
GC China Turbine Corp. (OTCBB: GCHT) is a leading manufacturer of state-of-the-art 2-bladed wind turbines based in Wuhan City of Hubei Province, China. The Company holds a license to manufacture a groundbreaking technology which meets rigorous requirements for low-cost and high reliability. The technology was developed through a 10 year European research project costing over US$75 million. GC China’s launch product is a 1.0 megawatt ("MW") utility scale turbine with designs for a 2.5MW and 3.0MW utility scale turbine in development. The Company’s initial efforts have been rewarded with contracts of approximately US$128 million to-date.