IQwind and Guascor Announce Partnership Agreement to Commercialize Innovative Variable IQGearTM Technology for Wind Turbines

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Guascor will manufacture IQwind's high efficiency variable gearbox for the European wind market and directly sell and service IQGears in Spain.

Guascor brings manufacturing and wind expertise, more than 50 years of leadership in the power system industry, and a unique renewable energy strategy. These attributes make the company an ideal partner for IQwind in bringing this unique technology for improving power generation efficiency to the wind energy market

IQwind and Guascor announced today that they will partner to commercialize and bring to market the IQGear, a breakthrough high efficiency variable gearbox for the wind industry. The partnership brings together IQwind's innovative wind turbine technology and the operational and market expertise of Guascor, an international leader in the production and distribution of renewable energy power systems.

Increasing the overall potential and cost-effectiveness of wind as an alternative renewable energy source, the IQwind variable gear can be both retrofitted into existing turbines and utilized as a standard component in newly-manufactured turbines. The high efficiency IQwind technology can reduce the cost of energy (COE) by up to 20% compared to the best existing wind turbines.

Guascor will manufacture the IQGear according to design and specifications provided by IQwind. To support the IQGear production, a new manufacturing line will be established in the Guascor Power facility in the Basque Country (Spain). Becoming part of the company's long-standing tradition of ongoing initiatives for collaborative R&D, manufacturing, distribution, and services, the new production line will form a best-in-class operation in the wind-powered energy system world.

According to the agreement between the companies, the initial ten gearboxes manufactured by Guascor will be used for testing, certification, and initial commercial installations retrofitting currently-operational turbines during 2010. The companies will scale up to bring additional retrofitted and new turbines to the European market in 2011 and beyond. According to the agreement, IQwind will lead the sales, marketing and design activities and shall continue to own any resulting Intellectual Property (IP).

"The partnership with IQwind reinforces Guascor´s vision and its commitment to renewable energy," said Mr. Cesar Fernandez de Velasco, CEO of Guascor. "The IQwind variable gear is an important development in wind-powered energy generation. It addresses the long standing challenge of efficiently turning a variable wind source into stable electrical current, and can make an immediate impact on the economics of wind projects. Guascor is delighted to lend its manufacturing muscle and the operational experience of its executives to advance the establishment of IQGear as the leading gear
design in the wind energy market. We look forward to rolling this exciting technology out to the market as early as 2010."

"Guascor brings manufacturing and wind expertise, more than 50 years of leadership in the power system industry, and a unique renewable energy strategy. These attributes make the company an ideal partner for IQwind in bringing this unique technology for improving power generation efficiency to the wind energy market," said IQwind founder and CEO Gideon Ziegelman.

"Partnering with a prominent player such as Guascor is a resounding validation of the value our variable gear technology brings to the wind energy market," added Ziegelman. "The cooperation with Guascor and the significant investment they have committed to in this agreement will greatly accelerate the introduction of IQGear into the wind energy market. This collaboration is a major step towards the transformation of this new technology into a revenue generating product."

About Guascor

Guascor Group is an industrial corporation specializing in customized energy solutions based on renewable energies and power systems with high know-how in distributed energy. The Guascor Group technologies are spread over a wide range of energy sources, positioning Guascor as one of the few companies that is able to give a complete answer to the changing world of renewable energies, covering a broad spectrum of activities along the value chain, providing holistic solutions to the renewable energy market (solar, wind energy, bio-energy, hydropower), and addressing power system and technology integration demands.

Guascor's presence throughout the entire wind energy value chain, from wind turbine design and manufacturing to wind farm promotion, manufacturing, and operation as a full turnkey solution, makes it uniquely qualified for companies that seek to partner with an established industry player.

Guascor´s total power sold of 2.151 MWe, with 63.00 GWh of annual energy production that avoids the emission of more than 3.5 million tons of CO2 per year, represent the strong commitment to efficient renewable energy exhibited by the company's 1,300 people-talent, located in 30 countries around the world. (http://www.guascor.com).

Currently, Guascor group plans the world's largest wind farm in Argentina. The $2.4 billion project will be located in Pico Truncado, a town in Santa Cruz province, and is expected to take three years to complete.

About IQwind

IQwind's technology advances the efficiency of wind energy production and significantly increases the return on investment for both existing and new wind turbines.
Based on a patent pending technology, IQwind's variable gear solution can be retrofitted into existing turbines to improve energy-generation efficiency. In addition, the IQwind variable gear is expected to become a key component in newly designed turbines, which have reached a record of over 27,000 MW of added capacity in 2008, representing an annual investment of $51 billion and a 42% year-to-year growth.

Consequently, the use of IQwind's technology will have a substantial positive impact on the economic viability of wind turbines as a source for clean renewable energy and the ensuing environmental benefits. IQwind is funded mainly by Terra Venture Partners (http://www.terravp.com) and was recently selected as one of the Top 100 Global Companies on the Red Herring list. For more information, visit http://www.IQwind.com.

Guascor Contact:
Contact person: Vicente Castillo (EUROCOM CONSULTING)
Phone: +34 94.491.53.55
Fax: +34 94.491.43.40
Web: http://www. gr.guascor.com

IQwind Contact:
Contact person: Maya Pascaro
Phone: +972-9-7882270
Fax: +972-9-8648358
Web: http://www.IQwind.com

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Shiri Ziegelman
IQwind
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