Southwest Windpower, a producer of small wind generators, announced completion of an $8 million Series-B equity investment led by RockPort Capital Partners. CTTV Investments LLC, the venture capital arm of Chevron Technology Ventures and existing shareholder Altira Technology Fund IV LP of Denver also participated in the financing.
This funding follows two years of solid growth by Southwest Windpower, as sales of small wind generators have increased 50 percent per year for the past two years.
The capital will support SWWP’s efforts to launch a new, lower cost, residential wind technology later this year. It is anticipated that this new technology will make it significantly cheaper – by up to 60 percent – to produce wind energy on a residential scale.
Said Hap Ellis, general partner of RockPort Capital Partners, “We believe Southwest Windpower’s new technology will make inexpensive wind power available to consumers throughout the country and will revolutionize the distributed generation marketplace.”
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