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

Guascor Will Manufacture IQwind`s High Efficiency Variable Gearbox for the
European Wind Market and Directly Sell and Service IQGears in Spain
VITORIA, Spain & TEL AVIV, Israel--(Business Wire)--
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.
(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 (www.terravp.com) and was recently selected as one of
the Top 100 Global Companies on the Red Herring list. For more information,
visit www.IQwind.com.

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Guascor
Vicente Castillo (EUROCOM CONSULTING)
Phone: +34 94.491.53.55
Fax: +34 94.491.43.40
Email: vicentec@consultoresdecomunicacion.com
Web: www.gr.guascor.com

IQwind
Maya Pascaro
Phone: +972-9-7882270
Fax: +972-9-8648358
Email: info@IQwind.com
Web: www.IQwind.com

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