"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."
The funding will help Southwest Windpower 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 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 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."
Over the last four years, Southwest Windpower has grown at a compound growth rate of nearly 37%.
About Southwest Windpower
Flagstaff Arizona-based Southwest Windpower is the world's largest producer of small wind generators (400-3000 watts). The 22-year old company has been a pioneer in the development of wind technology and has produced over 160,000 generators that provide power to residential homes, remote cabins, telecom transmitters, offshore platforms, water pumping and sailboats. Southwest Windpower distributes in more than 88 countries.
On the Web: www.windenergy.com
About PCG Clean Energy and Technology Fund
The PCG Clean Energy and Technology Fund is a commingled fund-of-funds and direct investment vehicle dedicated to investing across the spectrum of the global clean energy and technology value chain. The fund is managed by a dedicated CleanTech investment team within PCG Asset Management, which oversees more than $15 billion of private equity commitments through a combination of fund-of-funds, separate accounts and advisory relationships and is located in La Jolla, California.
About Altira Group
Altira Group LLC is a Denver based private equity and venture firm that has profitably invested in energy technology companies for over 12 years. Their portfolio includes companies in both the traditional and renewable energy sectors. Altira pursues opportunities to commercialize transformative technologies that drive efficiency and productivity gains throughout the energy value chain while reducing the carbon footprint. Altira is currently investing out of its fifth fund. The typical initial investment in a portfolio company is in the $5-$15 Million range, with follow-on investments as warranted. Altira seeks investment opportunities led by experienced and dedicated management teams who are commercializing new energy technologies with high growth potential.
On the Web: www.altiragroup.com
About GE Energy Financial Services
GE Energy Financial Services' experts invest globally with a long-term view, backed by the best of GE's technical know-how, financial strength and rigorous risk management, across the capital spectrum, in one of the world's most capital-intensive industries, energy. GE Energy Financial Services helps its customers and GE grow through new investments, strong partnerships and optimization of its more than $22 billion in assets. In renewable energy, GE Energy Financial Services is growing its portfolio of more than $4 billion in assets in wind, solar, biomass, hydro and geothermal power. GE Energy Financial Services is based in Stamford, Connecticut.
On the Web: www.geenergyfinancialservices.com.
About NGP Energy Technology Partners
NGP Energy Technology Partners, L.P. is a Washington, D.C -based $148 million fund investing growth equity capital in companies providing technology-related products and services to the oil and gas, power and alternative energy sectors. The fund is managed by investment professionals with extensive experience investing in virtually all types of energy technologies and a strong track record of helping companies grow, create value, and establish strategic partnerships. NGP Energy Technology Partners is an affiliate of NGP Energy Capital Management, a $4.2 Billion firm based in Irving, Texas that invests in all sectors of the energy industry.
On the Web: www.ngpetp.com
About Rockport Capital Partners
RockPort Capital Partners is a venture capital firm based in Boston that invests energy and power technologies, advanced materials and process and prevention technologies. The firm is committed to companies with breakthrough technologies that deliver significant economic value to large potential markets.
On the Web: www.rockportcap.com
Source: Pitch Engine