Company: Northern Power
Significant growth as production reaches maximum capacity
Northern Power Systems (www.northernpower.com), a next-generation renewable energy technology company, reports that 2013 has been its most successful year in its core business ever.
Northern Power broke its previous sales records of the NPS 60 and NPS 100 wind turbines with triple digit orders, in terms of number of units, coming from its European markets.
Production at the company’s US manufacturing facility in Barre, Vermont is nearing full capacity and sources are actively being identified to meet additional demand. As a result, Northern Power expects its global fleet of distributed wind turbines to grow beyond 400 units by the end of 2014.
The NPS 60 and NPS 100 reliability record continues to improve, recently surpassing 4 million run time hours with over 99% grid-connected median availability without a major incident since coming to market in 2008. This is despite having record cold temperatures in North America and violent storms in Europe. These distributed wind-class turbines are available in a variety of rotor and tower configurations, including two models introduced in mid-2013 that are specifically designed for Class III low wind sites.
Northern Power’s strategic partnership with WEG Equipamentos Elétricos S.A. , a major Brazilian electrical manufacturing company, is strengthening further. WEG has secured orders consuming full production capacity for 2014 for 2.1 MW turbines based on the utility-scale technology platform licensed from Northern Power.
Troy Patton, CEO Northern Power Systems, said, “Our success in 2013 has gone beyond our expectations. By customizing our products to meet specific new market needs , we expect to continue to expand our opportunities for growth in the coming year.”
Notice on forward-looking statements:
This press release includes forward-looking statements regarding Northern Power Systems and its business, which may include, but are not limited to, statements with respect to continuing expansion in the markets in which Northern Power Systems sells its products, production capacity at Northern Power Systems’ facility, growth in the number of units distributed, the strengthening of strategic partnerships, continued growth and other factors. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “is expected”, “expects”, “scheduled”, “intends”, “contemplates”, “anticipates”, “believes”, “proposes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such statements are based on the current expectations of the management of Northern Power Systems, and are based on assumptions and subject to risks and uncertainties (including the risk factors listed below). Although management of Northern Power Systems believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the company, including risks regarding the wind power industry, failure to obtain regulatory approvals, risks associated with product malfunctions, risks relating to production of Northern Power Systems’ products, market conditions, economic factors, the equity markets generally and risks associated with growth and competition. Although Northern Power Systems has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable laws, forward-looking statements speak only as of the date on which they are made and Northern Power Systems undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
About Northern Power Systems
Northern Power Systems designs, manufactures, and sells wind turbines, and provides engineering development services and technology licenses for energy applications, into the global marketplace from its US headquarters and European offices.
* Northern Power Systems has almost 40 years’ experience in technologies and products generating renewable energy.
* Northern Power Systems currently manufactures the NPS™ 60 and NPS™ 100 turbines. With over 4 million run time hours across its global fleet, Northern Power wind turbines provide customers with clean, cost effective, reliable renewable energy.
* Patented next generation permanent magnet/direct drive ( PM/DD ) technology uses fewer moving parts, delivers higher energy capture, and provides increased reliability due to reduced maintenance and downtime.
* Northern Power Systems offers comprehensive in-house development services , including systems level engineering, advanced drivetrains, power electronics , PM machine design, and remote monitoring systems to the energy industry.
* Some of the world’s largest manufacturers license NPS next generation technology and IP for their utility and distributed wind products and markets.
To learn more about Northern Power Systems, please visit www.northernpower.com.
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