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Mass Megawatts Wind Power, Inc., (OTC Bulletin Board: MMGW) Reports Equipment Sale and Joint Venture Agreement With a Large Energy Producer, EHG

Posted on: Wednesday, 4 October 2006, 09:00 CDT

WORCESTER, Mass., Oct. 4 /PRNewswire-FirstCall/ -- Under the agreement, Mass Megawatts, (BULLETIN BOARD: MMGW) http://www.massmegawatts.com/ sold $30,000 worth of equipment for a 50 kilowatt rated version of its patented wind power plant, the 'Multi-Axis Turbo System' (MAT). The wind power plant will be constructed by EHG (Eszakmagyarorszagi Hulladekgazdalkodasi) of Kazincbarcika, Hungary, and is expected to be completed by the end of the year. The MAT site has an average annual wind speed below 15 miles per hour.

Upon completion of the initial MAT unit, EHG plans to develop an additional 10 megawatts of wind-based power at the same location. EHG and its Green Energy of Hungary business partners are also in the process of constructing a 20 megawatts waste to energy plant, while adding 30 megawatts of solar thermal capacity at the same location of the 50 kW wind power plant.

The MAT system is a patented, wind energy conversion device that is capable of generating electricity at 2.5 cents per kilowatt-hour at an average wind speed of 16 miles per hour. This generation cost is 40% below traditional wind energy technologies, and is directly competitive with fossil fuel power plants such as coal and natural gas.

The MAT design is based on the deployment of many small individual blades, which are mounted vertically on shafts that drive generators located at the base of the system. The MAT design has received a PE stamp, certifying that the structure can withstand 120 mph winds, as well as level 4 earthquakes.

The MAT structure provides several key advantages over traditional wind energy designs. This includes a reduction in capital, operational, and maintenance costs, along with the ability to operate profitably in lower wind speed locations. In the United States alone, suitable MAT locations currently exist to potentially supply 20 percent of the nation's electricity.

The company reports that it has limited the technology and operational risks for its customers by providing a warranty on the performance for each MAT system sold. The level of electricity generated by a MAT, based upon wind- speed, is guaranteed by the company. In addition, favorable accelerated depreciation rules can, in some cases, create a positive cash flow situation in the first year of operation.

This press release contains forward-looking statements that could be affected by risks and uncertainties, including but not limited to Mass Megawatts Wind Power, Inc.'s ability to produce a cost-effective wind energy conversion device. Among the factors that could cause actual events to differ materially from those indicated herein are: the failure of Mass Megawatts Wind Power, Inc. to achieve or maintain necessary zoning approvals with respect to the location of its MAT power developments; the ability to remain competitive; to finance the marketing and sales of its electricity; general economic conditions; and other risk factors detailed in periodic reports filed by Mass Megawatts Wind Power, Inc.

Please refer to the company's web site at http://www.massmegawatts.com/ for more information about the company and the patented MAT technology.

Mass Megawatts Wind Power, Inc.

CONTACT: Jon Ricker, +1-508-751-5432

Web site: http://www.massmegawatts.com/

Source: PRNewswire-FirstCall

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