TwingTec closes financing round28.12.2015 08:38
TwingTec announces the closing of a financing round in December. Current investors and new angel investors have contributed.
After successful demonstration of autonomous power production earlier this year, the equity will allow the optimization of the power production of their novel wind energy technology. To this end, TwingTec gets support from ETH, EPFL, Empa, FHNW and ZHAW. The teams join forces in a new CTI project which will start January 1th 2016.
CEO Rolf Luchsinger adds: “ I am very happy that this financing round was closed before Christmas. Everything is now lined up for next year. We have demonstrated the key technical challenges during 2015. Now it’s the time to optimize the system and set up the stage for the first full scale pilot project. With our excellent partners we are in a perfect position to achieve our goals.”
TwingTec is developing the next generation of wind energy technology: TwingPower. By using a Twing, short for tethered wing, wind energy up to 300 meters above the ground can be efficiently harnessed. No tower or foundation is required, so more than 90% of the material of a conventional wind turbine can be saved. A unique launching and landing solution using on-board propulsion has been demonstrated that enables a compact and mobile system to be realized. The culmination of more than 5 years of R&D in leading academic and research institutes in Switzerland, the TT100 offers a flexible and scalable mobile wind energy system for off-grid power supply applications.