Southwest Windpower - Renewable Energy Made Simple

News & Commentary

Scottrade
August 23, 2009
http://research.scottrade.com

Southwest Windpower, a developer of small wind turbines up to 3 kW, said it has secured additional financing to accelerate its expansion in Europe, Asia, Australia and other new markets and to support additional product development.

PCG Clean Energy and Technology Fund participated in the round for an undisclosed amount. Other current investors that participated are Altira, GE Energy Financial Services, NGP Energy Technology Partners, and Rockport Capital Partners.

"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, based in Flagstaff. "We are expanding rapidly to bring cost-effective, renewable sources of energy to residential, commercial and off-grid customers."

In a release, the Company noted that the funding will help it expand in global markets and enhance its Skystream product, a residential-scale wind generator that produces electricity up to 60 percent cheaper than retail electricity, bringing renewable energy options to residential consumers and commercial outlets. Skystream's 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 percent 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 powering poles street lamps for parking lots or municipalities and multiple unit installations for remote electrification.

"Southwest Windpower has shown impressive growth and great potential to innovatively drive the future development of small wind," said Jasandra Nyker, Senior Vice President at PCG Asset Management. "Not only has the company shown market leadership in small wind, it has focused on providing affordable sources of wind energy to encourage large-scale adoption."