Sauer Energy Inc., a technology developer in the renewable energy market, announced the signing of a non-binding Letter of Intent to acquire City Windmills Inc., a Delaware Wa-based windmill company. The Newbury Park-based company specializes in developing technology for the use of wind capture in residential and small office buildings. According to the terms of the LOI, Sauer Energy Inc. and City Windmills Inc. intend to discuss the full purchase of the company and its Government contract for the wind power sector, Sauer Energy officials said. Although the transaction is still subject to a definitive agreement form both parties, fulfillment of the contract will aggressively expand Sauer Energy’s operations. In a prepared statement, Dieter Sauer, CEO and President of Sauer Energy Inc., said the company is pursuing the acquisition as a way to open up new channels of sales that will enhance the company’s bottom line. “We are very excited about the opportunity that has been placed before us,” Sauer said.
