Low Carbon Accelerator
Low Carbon Accelerator's investment focus is on businesses in the UK, Europe and North America providing products and services in clean energy, cleaner fuels, energy efficiency and building sectors.
Low Carbon Accelerator increases stake in UK wind turbine maker Proven Energy to 49.83 pct
Wednesday, April 01, 2009
Low Carbon Accelerator Ltd said it has increased its equity holding in Proven Energy Ltd to 49.83 percent through a further investment of £500,000. It has thus invested a total of £7.15 million in the manufacturer of small-scale, high-performance wind turbines in the UK.
Proven's clients include Sainsbury, B&Q, T-Mobile and Shell, for whom it provides marine-grade, explosion proof wind-turbines to power offshore gas platforms in the North Sea.
The new investment will be used to accelerate the product development of the enhanced 6kW and 15kW turbines; upgrade the production quality-control systems to improve yields; and expand the senior management team for the next phase of growth.
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