Wednesday, 1 April 2015
Last updated 4 hours ago
Feb 13 2009 | 10:57am ET
ChapDrive, a Norwegian developer of hydraulic transmissions for wind turbines, has raised NOK 52 million ($7.6 million) in new VC funding.
The funding is secured through an industrial research and development agreement (IFU) between StatoilHydro, ChapDrive and Innovation Norway. The finance package includes an equity investment from the existing shareholders NorthZone Ventures, Hafslund Venture and Energy Capital Management of NOK 18 million ($2.6 million).
StatoilHydro contributes NOK 15.6 million ($2.3 million) from their LOOP Industrial Supplier Development program, and Innovation Norway grants NOK 18 million ($2.6 million).
The funding will finance development of a 5MW hydraulic transmission for wind turbines.
The Trondheim-based company’s hydraulic transmissions allow for lighter weight and more cost efficient wind turbines by reducing the weight of the nacelle (cover housing), simplifying installation and reducing operating and maintenance costs.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…