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United States

DELAY IN GOING PUBLIC

Zond's Initial Public Offering (IPO) has not been issued. It was filed with the Securities and Exchange Commission in July, 1994, but the company is now delaying its move to become publicly-traded.

Zond Systems Inc will manufacture its first Z-40 turbines, to be installed in Texas, at its plant in Tehachapi, says the company's Bob Gates. At least 100 of the 500-kW turbines should be made over the next five years and Zond has signed deals to install projects in the US (60 MW near Storm Lake, Iowa), UK (22 MW in Wales) and India. There are also reports that the company is planning a larger turbine than the 500 kW Z-40 and has been negotiating deals in Oregon, Minnesota, and at least 15 countries including China, Mexico and in Central and South America. Zond's $50 million Initial Public Offering (IPO), however, has not been issued. It was filed with the Securities and Exchange Commission in July, 1994, but he company is now delaying its move to become publicly-traded.

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