Arizona, United States [RenewableEnergyWorld.com] Southwest Windpower has secured additional financing to accelerate its expansion in Europe, Asia, Australia and other new markets and to support additional product development. PCG Clean Energy and Technology Fund participated in the round for an undisclosed amount. Other current investors that participated are Altira, GE Energy Financial Services, NGP Energy Technology Partners, and Rockport Capital Partners.
The funding will help Southwest Windpower expand in global markets and enhance its Skystream product. The company said that it 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.
Over the last four years, Southwest Windpower has grown at a compound growth rate of nearly 37 percent.
“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.”