XZERES, a clean energy solutions company, signed a license agreement to manufacture, market and sell Argosy Wind Power’s 50 KW wind turbine system.
The turbine will join the XZERES series of wind turbine products, Skystream 2.4KW and XZERES 10KW. They will be branded as XZERES 50KW, positioning the company as a wind turbine solutions provider in the market.
The new XZERES 50KW features the same gearless technology and engineering as other turbine generators available in the market.
The 50KW turbine offering expands XZERES’ batch of wind powered, distributed energy systems.
Jeffrey B. Milbourn, president, CEO, Argosy Wind Power, said the decision for the partnership with XZERES to expand 50KW system by the company was based on their field deployments andfurther benefit received from their distribution capability.
The partnership with XZERES helps the company support customer needs as well as deploy systems all over enhancing the probability of turning $30 million in project pipeline into sales, added Milbourn.
XZERES anticipates Gale Force Infrastructure Fund, financing partners for the project, will incorporate the larger turbine into distributed wind investment plans for UK and EU market, providing XZERES significant sales opportunity.
The licensing transaction is supported by Renewable Power Resources (RPR), the company’s senior lender and investment partner.
As in the acquisition of Skystream, RPR plans to capture additional assets, integrate them into the XZERES infrastructure and drive performance. The XZERES anticipates finishing Argosy’s 20KW system project over the next six to nine months.