TPI Composites, Inc., a manufacturer of large-scale composite structures for the wind energy, transportation, and military vehicle markets, announced it closed $22 million in Series A Convertible Preferred equity financing from new and existing investors.
NGP Energy Technology Partners led the investment round and was joined by Angeleno Group and return investor, Landmark Growth Capital Partners. Said TPI President and CEO Steven Lockard, “We expect our wind business to continue its dramatic growth in North America and China over the next couple of years. We are gaining significant traction in our military and transportation businesses as well.”
“TPI is an exciting company with a strong management team and a proven ability to produce high-quality, large-scale composite structures in volume,” said Philip Deutch, Managing Partner of NGP Energy Technology Partners.
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