Serving the wind power industry since 1987, XH Industries, Inc. has two fully equipped, operational repair and maintenance facilities, in California and Washington state, serving a population of over 20,000 wind turbines, 60% of which are estimated to be behind on critical maintenance.
These strategic additions are a key next step toward WindPower Innovations fulfilling its commitment to provide next generation solutions designed to minimize downtime and increase profitability for wind farm operators.
This agreement provides for a period of due diligence and the issuance of restricted common stock at a formula based on the current market price.
WindPower Innovations, Inc. will develop state-of-the-art facilities that will be “process flow” oriented, and environmentally responsible. The objective of WindPower Innovations, Inc. is to become the premier “re-builder” of wind turbine gearboxes as well as expanding the business into complete turbine overhauls, including blade refurbishment. “Our name is based on bringing forward-thinking innovation into a massive industry. We can fill a huge void and lead our industry in improving the longevity and efficiency of new and existing wind turbines.”