Greentech
Lead America: New Wind, a small-wind vertical-axis wind turbine (VAWT) company,
has received more than $1 million in a second round of venture capital.
New Wind has
grown significantly in the past year as VAWTs are proving to have a great
return on investment through new technologies.
The much
needed funding came because investors looked at the growth and potential of the
company. The company is in the process of expanding its product line after
research on practical, affordable, sustainable energy products.
“This
funding is a big deal. It shows how much faith the investors have in us and our
team here at New Wind. After seeing the growth of the company and in the
industry as a whole, the investors have a great deal of confidence in the
direction the industry and country are headed,”=” said Stuart Wiston,
president, New Wind.
According to
Pike Research, the small wind market is to double in size to $634 million by
2015. Small wind power provides cost-effective electricity on a highly
localized level both in remote settings as well in conjunction with power from
the utility grid.
In the past
six months, New Wind has almost doubled in staff, held dealer training in
Nashville where dealers got hands-on time with products, and developed a new
product with the Univerdant Consortium that provides a total energy solution
for telecom through the combined use of wind, solar, and energy storage.
New Wind has
garnered interest from the military to help them with solutions to energy
capability gaps.
“We can make
the world a better place and provide jobs and offer affordable products that
greatly reduce our carbon footprint. Plus we get to work with great investors
and the dynamic people here on the team, and also provide real, viable,
dependable, and necessary products needed both now and in the future,”” Wiston
added.