Windflow Technology’s annual report was lodged today, 10th November and highlights that the company’s previous financial year was one of progress across all core operating and business areas.
“The achievements of the previous 12-months have been hard fought and have created shareholder value that unfortunately seems to have been undermined or eclipsed by the recent upset in relations with our key customer,” says CEO Geoff Henderson.
Our annual report however makes it clear that we consider there were several highlights in the year to June 2009 that endorse our overall operational performance and future earning capacity:

• the unconditional order for 32 turbines to complete stage 4 of the Te Rere Hau wind farm
• the successful production, delivery, installation and commissioning of 45 turbines for Stages 2 and 3 of the Te Rere Hau wind farm
• the exercising of the Options (raising $3.5 million) and additional equity ($7.1 million) that came from new cornerstone shareholder Mighty River Power
• managing the resource consent process for the proposed Long Gully wind farm
• substantially completing the calculations and other documents required for IEC Type Certification for the Windflow 500. These are now being reviewed by Lloyds Register.

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