Real Logic has announced that it has come to an agreement with an undisclosed company on the terms that will foresee Real Logic's subsidiary develop a new generation of commercial wind turbines with optional hydrogen production and storage components.
Real Logic said that its partner has completed design, marketing and manufacture of a new wind turbine system, and will be transferring into the new subsidiary the exclusive rights for the intellectual property for the system.
The company’s pro forma summary projections indicate that revenues will be generated from equipment sales, development services and wind farm revenues. The subsidiary’s sales revenues from the second year of operations are expected to be over $125 million and third year sales revenues are expected to be over $350 million. Real Logic will be the majority owner of the firm.
The company’s commercial wind and hydrogen energy innovations are expected to offer the renewable energy market a distinctive power generation system costing less than conventional technology available.