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Danotek Motion Technologies announced that it has raised US $14.5 million from CMEA Ventures, StatoilHydro Venture and GE Energy Financial Services.
"The capital infusion from top-tier, long-term investors will allow us to expand manufacturing and support our entry into the wind turbine original equipment manufacturers' market with generators capable of producing up to three megawatts."
-- Dan Gizaw, CEO, Danotek
The company said that its patent-pending variable speed Permanent Magnet Generators could save wind developers more than US $1 million per turbine. According to Danotek, its generators can spur the wind equipment market by increasing wind turbines' efficiency, while reducing their maintenance and operating cost.
"The capital infusion from top-tier, long-term investors will allow us to expand manufacturing and support our entry into the wind turbine original equipment manufacturers' market with generators capable of producing up to three megawatts," said Dan Gizaw, CEO of Danotek. "We will also scale up generator development for larger direct drives and offshore units."
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