WORCESTER, Mass., May 23, 2023 (GLOBE NEWSWIRE) -- Mass Megawatts Wind Power, Inc. (OTC: MMMW) www.massmegawatts.com launched today an incentive program of cash bonuses and equity incentive awards to solar account acquisition and production team members. The incentives reflect the commitment and encouragement of Mass Megawatts toward its team members. Milestones and objectives can be achieved in a timely manner with the incentive program. One of the objectives is profitability before the end of the second fiscal quarter ending October 31, 2023. The most important sales program is related to the patent pending solar tracker which can produce 35 percent more solar power for less than ten percent additional cost.
The company’s Solar Tracking System (STS) is a new patent pending product that significantly reduces the payback period for solar power investments. The projects can pay for itself in less than five years at many locations like Massachusetts. It is designed to automatically adjust the position of solar panels to directly face the sun as it travels from East to West throughout the day. Unlike other solar tracking technologies, the Mass Megawatts Solar Tracker utilizes a low-cost framework that adds stability to the overall system, while improving energy production levels.
Mass Megawatts has less than 155 million shares issued and outstanding with a market capitalization under $2 million. Only about 80 million shares are in the free trading float. The Company has very little debt and no toxic debt.
The global demand for solar tracking is anticipated to be a $3 billion market by 2025, with demand being fueled by the growing need for clean, renewable energy sources.
Product information and sales inquiries can be made through the company’s contact page at www.massmegawatts.com.
This press release contains forward-looking statements that could be affected by risks and uncertainties. Among the factors that could cause actual events to differ materially from those indicated herein are: the failure of Mass Megawatts Wind Power (MMMW), also known as Mass Megawatts Windpower, to achieve or maintain necessary zoning approvals with respect to the location of its 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 (MMMW).
Source: Mass Megawatts Wind Power, Inc