ReDriven Power Inc. has closed a $5 million investment that will significantly increase its operations and help clear its sales backlog of almost 100 wind turbine systems as well as support the expansion of sales globally. ReDriven Power Inc. is a three-year-old wind turbine manufacturer that already has dealers in seven countries and on three continents and is positioned as the 6th largest small wind manufacturer worldwide based on kW of sales.
ReDriven has come a long way toward its goal of offering world-class wind power systems in the 50 kW and under space. With a unique patent pending hydraulic tower and controller system, that encompasses a common design across the product line, ReDriven Power Inc. enables homeowners, farmers, manufacturers and business owners to generate eco-friendly electricity through the use of wind turbines.
The investor is a private equity fund based in the U.S. Virgin Islands. The investor is a retired lawyer and businessman, a graduate of Princeton, Harvard Law School and Loyola University XMBA, who had a successful career as a securities attorney and also has invested in several other small successful technology companies. According to this investor, "We are excited about the work being done globally by ReDriven Power Inc. The use of small wind turbines is pivotal in renewable energy generation."
The closing of this financing is the beginning of many exciting developments on the horizon of this global Canadian company as it advances as a world leader in small wind power systems.