ANNAPOLIS, Md., (http://www.financialnewsmedia.com News Alert -- Clean Wind Energy Tower, Inc. (OTCBB: CWET, the \"Company\") announced today that it has entered into an Investment Agreement with Deer Valley Management, LLC headquartered in White Plains, New York. This Agreement allows the Company to obtain up to $5,000,000 under the definitive financing terms including a registration statement having been declared effective with the Securities and Exchange Commission.



Company President Ronald W. Pickett stated, \"As we continue to move our technology and our project forward, we see vast opportunities within the alternative energy markets for our Downdraft Towers. We are very pleased to be working with a quality investment partner such as Deer Valley Management. We believe this financing will provide a firm foundation for our capital needs and will help to accelerate all aspects of our program and execute our ambitious business plan. We continue to make value engineering progress on our tower structure, incorporating a variety of potential energy enhancing power techniques that will enable our Downdraft Energy Tower to produce abundant saleable power to the grid.\"



About Clean Wind Energy, Inc.

Clean Wind Energy, Inc. a wholly owned subsidiary of Clean Wind Energy Tower, Inc, has designed and is preparing to develop, and construct large \"Downdraft Towers\" that use benevolent, non-toxic natural elements and operate with virtually no carbon footprint, fuel consumption, or residual waste to generate electricity and clean water economically by integrating and synthesizing numerous proven as well as emerging technologies. This technology will generate clean, cost effective and efficient electrical power without the damaging effects caused by using fossil or nuclear fuels, and other conventional power sources.



Abundant, Clean, Inexpensive Electricity

The present Downdraft Tower has a design capacity on an hourly basis of up to 850 megawatt hours, gross. Using a 60% capacity factor, the Tower\'s potential hourly yield would be 510 megawatt hours from which approximately 20% will be used to power its operations, yielding approximately 408 megawatt hours available for sale to the power grid. Currently in California, avoided costs are running approximately $0.11 per kilowatt hour. As an independent...