Post by
ROUGETRADER719 on Oct 31, 2017 3:07pm
23 million float tiny market cap 100 million spent
In the summer of 2008, the Vermont-based company was acquired by a group of investors who provided over $100 million in financing to Northern Power Systems between 2008 and 2013. During that period, Northern Power Systems introduced an advanced technology permanent magnet direct-drive distributed wind turbine, and has since sold over 400 of these 60 kW and 100 kW units. Starting in 2009, the company also invested in the development of a utility scale wind turbine, and completed a certified design for a 2.3 MW turbine with a 93-meter rotor. Two prototypes of this turbine are installed and operating at a Michigan wind farm, and this utility scale platform has been licensed to partners in Brazil and China.