Published: 01 September 2011 01 September 2011
Danotek, a company that develops and manufactures permanent magnet generators (PMG’s) and related converter systems that deliver wind energy to the power grid, has announced that it has secured US$ 15 million in funding.
Led by four renewable energy venture capital firms, Khosla Ventures, CMEA Capital, GE Energy Financial Services, and Statoil Technology Invest, along with independent contributors, the Series B financing round will help to bring new technology to the market that will make wind turbines more efficient, reliable, and affordable. The funds will be used to expand research and development initiatives, as well as launch initial production. This latest round of venture capital brings the total private funding invested in Danotek to US$ 41 million.