Molycorp and venture capital firm NEA invests US $35 million in Boulder Wind Power (BWP). Molycorp is the Western hemisphere's only producer of rare earth oxides (REO) and the largest REO producer outside of China.
With the investment, Molycorp joins NEA on the board of Boulder Wind Power. It also positions Molycorp to become the "preferred provider" of rare earth magnets and/or alloys for wind generators using Boulder Wind Power’s drivetrain technology. BWP is developing and commercialising a rdifferent direct drive, permanent magnet generator for utility scale wind turbines. The BWP technology will enable manufacturers to deliver wind turbines with a cost of energy 20% to 30% below existing geared and direct drive technologies. The technology also provides a common platform that can be scaled up for larger onshore and offshore wind turbines. Boulder Wind Power's patented technology allows for the use of rare earth permanent magnets that do not require dysprosium, a relatively scarce rare earth. By utilizing dysprosium-free permanent magnets, and other engineering innovations that reduce the use of structural steel and eliminate the use of laminated electrical steel, wind turbines incorporating Boulder Wind Power's technology are expected to produce power at or below US$ 0.04 cents per kilowatt-hour, positioning it to compete directly with fossil fuel-based generation.
With the investment, Molycorp joins NEA on the board of Boulder Wind Power. It also positions Molycorp to become the "preferred provider" of rare earth magnets and/or alloys for wind generators using Boulder Wind Power’s drivetrain technology. BWP is developing and commercialising a rdifferent direct drive, permanent magnet generator for utility scale wind turbines. The BWP technology will enable manufacturers to deliver wind turbines with a cost of energy 20% to 30% below existing geared and direct drive technologies. The technology also provides a common platform that can be scaled up for larger onshore and offshore wind turbines. Boulder Wind Power's patented technology allows for the use of rare earth permanent magnets that do not require dysprosium, a relatively scarce rare earth. By utilizing dysprosium-free permanent magnets, and other engineering innovations that reduce the use of structural steel and eliminate the use of laminated electrical steel, wind turbines incorporating Boulder Wind Power's technology are expected to produce power at or below US$ 0.04 cents per kilowatt-hour, positioning it to compete directly with fossil fuel-based generation.