Comerton Corp. Provides Market Assessment and Outlines Business Development Strategy for Automatic Balancing Technology in Wind Power Sector
PINELLAS PARK, FL, May 22, 2018 (GLOBE NEWSWIRE) -- Comerton Corp. (OTC PINK: COCM) ("Comerton" or the "Company"), a wind energy technology development company, is pleased to provide this outline regarding the business strategy and market assessment for the Company’s proprietary Automatic Balancing Technology (ABT) in the global wind power sector.
In 2017, worldwide about $107.2 billion U.S. dollars were invested in wind energy technologies. Approximately 20% - 25% of expenditures, or $21 - $27 billion, is spent on maintenance, repair and overhaul (MRO) services for wind turbines; nearly 90% of that spending is for generators, gearboxes and turbine blades. Any improvements in reliability and performance can lead to significantly decreased MRO costs for wind turbine operators. Currently, the total global installed wind power capacity stands at approximately 540,000 MW or only about 5% of the total global electrical demand.
"We believe that our Automatic Balancing Technology system has huge potential within the rapidly growing global wind power market and can provide dramatic operational and ongoing maintenance benefits for both manufacturers and wind turbine operators," stated Rod Egan, President, and CEO of Comerton Corp. "Utilizing our proprietary ABT, manufacturers can lower costs by reducing the time and effort to balance their wind turbines using conventional methods, while wind turbine operators will gain the benefits of a superior performance, reliability, and energy efficiency. These improvements could be a giant leap forward for the economics of wind power, as any increase in efficiency and output will make wind turbines an even more viable long-term energy solution and should help to drive future investments in the sector."
Following commercialization, Comerton Corp. intends to market and promote its ABT technology to several levels of the wind energy market, including; 1.) Original Equipment Manufacturers (OEMs) who directly manufacture wind turbine blades, generators, and gearboxes; 2.) Generator manufacturers that supply to the wind power sector; 3.) Wind farm operators as after-market add-ons to existing installations; 4.) Maintenance, Repair, and Overhaul Service Providers (MRO) companies that service existing installations; and 5.) Technology Licensing Agreements with other new technologies developers.
Rod Egan concluded, "With the looming threat of climate change and rising energy costs, governments, industry, and consumers are all focused on economical ways to boost green energy production and reduce harmful greenhouse gas emissions. As a result, wind energy has become one of the fastest growing alternative energy solutions. With the assistance of our Automatic Balancing Technology and a strong marketing effort that covers all players within the sector, we are confident that wind turbines utilizing our ABT can continue to become more energy efficient and cheaper to operate, and that wind power can become universally recognized as a viable alternative to burning fossil fuels to power our daily lives."
For more information about Automatic Balancing Technology (ABT) and Comerton Corp., visit www.comertoncorp.com .
About Comerton Corp.
Comerton Corp. (OTC PINK: COCM) is an emerging wind power technology company based in Pinellas Park, Florida. The Company is developing innovative Vertical Axis Wind Turbines utilizing its proprietary Automatic Balancing Technology ("ABT") to continuously rebalance rotating components, resulting in reduced vibration, improved energy efficiency, lower noise emissions, greater power output, and lower maintenance costs. For additional information, visit www.comertoncorp.com.
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