Sheppard Holdings, LLC will hold the exclusive worldwide rights to distribute and sell an innovative Vertical Axis Wind Turbine (VAWT) systems developed by Torsion Tec, a British Columbia company. This proprietary technology includes advancements in both turbine design and generator manufacturing that will lead to a wide variety of potential new wind turbine applications and significantly lower cost per kW to the end consumer.
VAWT designs have shown significant advantages for use in urban and commercial wind power installations, however widespread acceptance has been limited by problems from pulsating torque in early VAWT designs and the high production costs of current model helical twist designs. Torsion Tec’s new and novel VAWT designs successfully address both of these critical issues.
"The proposed acquisition of Sheppard would firmly position our growing Company in one of the fastest growing and exciting businesses within the green energy sector," said John E. Salamon, President of Salamon Group. "Torsion Tec’s advancements in vertical axis wind technology offer consumers the possibility of low-cost green power and enhanced energy independence for both their homes and businesses."
Closing of the proposed acquisition of Sheppard Holdings, LLC, is subject to the successful conclusion of due diligence by all parties and the signing of a definitive purchase/sale agreement. Further information detailing progress of the proposed acquisition will be released as it becomes available.
Salamon Group, Inc. is a publicly traded company (SLMU) focused on developments in conventional and alternative energy technologies, including opportunities in oil and gas, geothermal, wind energy, and solar power. The Company is committed to creating value for its shareholders by advancing its current businesses to profitability, while developing new opportunities internally and through joint-venture, and by acquiring technology rights or ownership with potential to increase their value in the marketplace.