$1 million investment helps grow Canadian manufacturer and developer of
wind turbines
TORONTO, June 26, 2014 /CNW/ - The International Energy Agency has been
very clear in its forecasts - global demand for energy will continue to
grow, which means more greenhouse gas emissions and increased risk of
destabilizing our climate. But the forecast is not entirely bleak. One
bright light is the global renewable energy market, which is
experiencing rapid growth as environmental and geopolitical concerns
drive governments around the world to create ambitious targets for
renewable energy generation. Innovators like Endurance Wind Power Inc.
(Endurance) are finding ways to help drive down the cost of renewable
energy, expand its use, and reduce climate-changing emissions.
Today, RBC announces that it is investing $1 million in Endurance
through the RBC Generator, the investment arm of RBC's Social Finance initiative. This investment
is a part of RBC's multi-million dollar social finance initiative,
designed to help drive social and environmental change through private
investment activity.
Endurance is a designer, manufacturer and owner of small and
medium (50-225kW) wind turbines, designed specifically for distributed
generation applications. Since 2007, Endurance has focused on the
creation of advanced induction-based small and medium wind turbines,
which produce energy at an industry-leading levelized cost of energy.
In 2012, the company expanded into Distributed Energy Solutions (DES)
by owning and operating its own highly efficient turbines on leased
land. RBC's investment will go towards expanding this high growth
business segment.
"This is the fifth investment made by the RBC Generator," says Sandra
Odendahl, Head of RBC's Social Finance initiative. "We are pleased to
know that it will help grow an innovative Canadian company that is
reducing greenhouse gas emissions created from electricity generation."
"This level of institutional investment in distributed wind power not
only demonstrates the market leadership of RBC's Social Finance
Initiative but it underscores the growing confidence in, and
bankability of, the market segment," observes Glenn Johnson, CEO of
Endurance Wind Power Inc. "This investment in Endurance enables us to
advance our distributed energy solutions model, create jobs and
continue expanding our business in global markets."
About Endurance Wind Power
Endurance Wind Power is a Canadian-based manufacturer/developer of
advanced medium sized wind turbines, both 50kW and 225kW in size,
designed specifically for distributed wind power applications. Their
line of modern, induction-based wind turbines brings efficient,
reliable, safe and quiet, renewable energy within reach of homeowners,
farmers, businesses and institutions.
Founded in 2007, Endurance is headquartered in Surrey, Canada and
privately held. At its head office in Surrey, BC and at its UK plant in
the West Midlands, Endurance manufactures its 50 kW E Series and its
larger X-Series 225KW turbine. Key markets for Endurance include the
United Kingdom, the United States, Italy and the Province of Nova
Scotia.
Endurance wind turbines back rural economies by generating reliable
revenue to farmers, land owners and communities from owning or hosting
wind turbines and enabling them to invest in their businesses, creating
jobs and supporting their local economy. Unlike the massive
utility-scale wind farms, Endurance turbines are much smaller and are
typically installed either individually or in pairs per farm, where
they better blend with the landscape while providing clean energy to
farms, homes and nearby communities.
About RBC Social Finance
The RBC Social Finance initiative, launched in 2012, is a multi-million
dollar commitment to help ignite social and environmental change
through investment activity. This commitment includes the $10-million
RBC Generator, a pool of capital dedicated to financing enterprises
addressing social and environmental challenges; a significant
investment of RBC Foundation assets into socially responsible
investments; and strategic partnerships to catalyze the growth of
social finance in Canada. RBC is recognized among the world's
financial, social and environmental leaders and is listed on the 2014
Dow Jones Sustainability World Index, the DJSI North American Index,
the Jantzi Social Index and the FTSE4Good Index. RBC is one of Canada's
Greenest Employers, and one of Canada's 50 Most Socially Responsible
Corporations. For more information, visit www.rbc.com/socialfinance.
SOURCE RBC
