ABB_id2059
in News Departments > FYI
print the content item

New Brighton, Minn.-headquartered Dotronix Technology Inc., a developer and marketer of nonprescription healthcare products through its PuraMed BioScience Inc. subsidiary, has announced it will enter the wind energy industry with intentions to sell wind power to utilities.

This decision was made after substantial planning and meetings with various industry resources to assist the company with entering the business, Dotronix says. Its initial wind farm likely will be constructed in a rural farm location near the border of Minnesota and the Dakotas. The company anticipates its initial project will generate 20,000 MWh to 25,000 MWh of wind power per year once it is complete.

Due to the substantial differences between the wind power business and the business of developing and marketing healthcare products, Dotronix plans to separate the two businesses through a spin-off distribution of the common stock of its PuraMed BioScience subsidiary to all Dotronix shareholders on a pro rata basis. The company adds that it anticipates the record date for this spin-off will be around Jan. 15, 2007, and that its effective date will be within 30 days thereafter. After this spin-off stock distribution is completed, there will be no further direct operational or management connection between or common to the two companies.

Hybrid Energy Innovations 2015

Trachte_id2056
Latest Top Stories

U.S. Wind Power Installations Surpassed 4.7 GW Last Year, Although China Still Leads

Bloomberg New Energy Finance reports that U.S. wind installations came back in a big way from a disappointing 2013.


IRS Specifies Performance, Quality Standards For Small Wind Turbines

The Internal Revenue Service (IRS) recently issued guidelines creating safety and performance standards for small wind turbines to be eligible for the 30% investment tax credit.


Hot Times North Of The Border: Canada Tops Previous Record For Installed Wind Capacity

For the second consecutive year, Canada's wind market has bested the country's previous mark for new installations.


Report: Policy Uncertainty Fuels Market Exodus As Firms Bolt North American Wind Industry

The global wind energy supply chain has yet to recover from the slump that began in 2013. In fact, many segments are undergoing a transformation, according to market research firm FTI Consulting.


Utilities Deal "Near-Fatal" Blow To Cape Wind: UPDATED

Despite its remarkable resiliency, could this latest setback mean the end for the controversial offshore wind farm?

Hybrid Energy Innovations 2015