HOME > NEWS & PRESS > NEWS ITEM Southwest Windpower Secures Additional FundingShare Clean Tech Brief Arizona-based Southwest Windpower is not disclosing the amount, but says it has secured another round of funding to accelerate its expansion and support development of its small (up to 3kW) wind turbines. Investors in this round included PCG Clean Energy and Technology Fund, Altira, GE Energy Financial Services, NGP Energy Technology Partners and Rockport Capital Partners. Southwest says it will use the funds to accelerate its expansion in Europe, Asia, Australia and other new markets and to enhance its Skystream product, a residential-scale wind generator that produces electricity up to 60% cheaper than retail electricity. Skystream’s unique plug-and-play design allows the user to connect directly to the electric grid. For a residential home, Skystream can provide anywhere from 30-80% of a home’s electricity, depending on its consumption and wind resource. Southwest Windpower is developing new applications for the Skystream system, including commercial uses such as street lamps for parking lots or municipalities and multiple unit installations for remote electrification. “Clean, reliable energy sources continue to be a critical component of the world’s energy mix, and small, more affordable wind energy will be a key new energy alternative,” said Frank Greco, CEO of Southwest Windpower, in a statement. “We are expanding rapidly to bring cost-effective, renewable sources of energy to residential, commercial and off-grid customers.” |
