Under the $2.8m contract, SUTIMCo will assist with the further development and commercialization of a revolutionary wind turbine technology for a period of three years at $77,500 per month.
AquaStar said its subsidiary operates as a Venture Accelerator, offering development services to start-up companies for up to three years.
The wind turbine design was developed at the University of Arizona, and has the capability of producing 50% more energy than a conventional wind turbine.
AquaStar said SUTIMCo has also signed a venture acceleration agreement with Capwave Sensor valued at $2.8m.
The alternative energy company is a maker of a revolutionary technology designed to harness wind power.
