Because of its scale and maturity, the wind energy sector has lagged other clean technology sectors in tapping into the huge upsurge in venture capital
investment in alternative energy, drawing only
about 1.4% of the $2.5 billion in renewable energy VC deals last year. But with the success the solar industry has had nurturing an array
of competing technologies for small stand-alone power generation, wind developers
are increasingly finding equity investors for different approaches to making small turbines
for residential and business installations.
The latest is TechnoSpin Inc., which just announced a Series
A financing round of $8 million led by 21Ventures, that will help the
Israeli-born company expand research and development, and boost its visibility
in the U.S.
market. 21Ventures is based in New York, but has specialized in seed- and early-
stage technology companies from Israel, concentrating on deals in the physical
security, clean energy and mobile software markets.
Like other small turbine developers Marquiss Wind Energy and Southwest
Windpower Inc., TechnoSpin is aimed not at reaping maximum
generation out of optimum wind sites, but at more effectively harnessing power in low-
and medium-wind areas, which it designates as more than 80% of the Earth's ground surface. The company also believes its manufacturing
process can lower production costs versus other renewable power sources, and
it is aiming its products at both remote users seeking to initiate their own
power source and at grid users seeking to augment purchased power and sell
back excess capacity. -- Clifford Carlsen
See March 28 story from TechConfidential
See April 28 press release from TechnoSpin Inc.
For more see Israel startup news
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