Wing Power Energy, Inc. placed $400,000 worth of mezzanine instruments with three investors in a non-brokered financing. The company has raised until now an estimated $1.5 million in seed funding and is looking to raise at least $5 million to fund its expansion. This is the first time the company is offering debt.
The company designs, integrates and installs renewable energy solutions for retail brands, wireless companies and tower companies. The company is focusing for now on micro-wind systems that produce less than 10 kilowatts and is patenting a system and method for efficient wind power generation. The system includes a shaft that rotates around a vertical axis, a plurality of blades, and a plurality of arms that couple the blades to the shaft. The full description of the patent is available at the US Patent & Trademark Office. The company has a relationship with Verizon which is looking for innovations to develop its 4G LTE network and deliver wireless services where traditional power sources are not available.
Wing Power Energy, headquartered in Burlington MA, was founded in July 2010 by Kahoru “Kalu” Watanabe (Business Development). The management team includes Harry Ruda (CEO), Steve Bragg (COO), Dan Wright (CFO), Bob Tomasi (Operations) and Sue Madden Moore (Marketing). The company subcontracts the manufacturing of its wind turbine to Tansei Techno Co., Ltd., Muneyoshi Shibagaki respresents the company on the board of directors. Wing Power Energy has fifteen employees.