Release
SheerWind, the developer and licensor of the patented INVELOX wind funnel technology,
is seeking growth funding to meet expanding global demand for its clean, affordable electricity systems
MINNEAPOLIS, Dec. 1, 2015 /PRNewswire/ — As SheerWind, Inc. is nearing completion of a 200 kW INVELOX(™) pilot project for Army National Guard-Michigan and is breaking ground for another in Florida for Tampa Electric, the Company is seeking qualified accredited Investors for growth funding. Funds will be used to meet increasing global demand for commercialization and delivery of its INVELOX technology. SheerWind is successfully executing its strategy of licensing its patented INVELOX technology worldwide. 5 global distribution Hubs have been licensed to date: China, Denmark, the Netherlands, New Zealand and the Middle East. Each with multiple INVELOX projects in development for 2016–17 totaling over 337MW. The China Hub for example, is focused on community and utility scale INVELOX systems in 2016 with plans for 300MW the following year. The Netherlands Hub is developing roof-top units with plans for producing a 25MW utility-scale wind power plant within the next two years.
Recent headlines put the quest for renewable energy to help climate change at the forefront. Demand for wind power installation solutions has been on the rise around the globe. Traditional wind power systems have limitations due to massive equipment, inadequate winds and safety issues. Siting has been limited to farmland, desolate high wind regions (often in bird migration paths) and off shore. All requiring complex infrastructure and machinery with a huge cost to produce, construct, maintain, and link to unstable power grids to get the power where it is needed.
We believe SheerWind has a valid piece to add to the renewable energy solution by capturing, concentrating, accelerating, and harvesting wind power in a funnel system called INVELOX (for INcreased VELocity). Its multi-patented INVELOX technology turns traditional wind power systems upside down by first using a funnel to collect wind, channeling that wind to increase its speed, and then delivering it to multiple high-efficiency turbines safely covered on the ground. This means wind energy can be produced from record low wind speeds of 2 meters per second in locations close to the end user—even on rooftops in urban areas—eliminating complex power and grid systems. Shrinking the size of the turbine blades, eliminating complex systems, and harvesting at ground level all equate to cost savings, environmental safety, and profitable output. INVELOX has an exceptional capacity factor of 70–90% (compared to 20-40% for traditional systems) by utilizing both low and high-wind speeds that tower-mounted wind systems cannot operate with.
SheerWind’s strategy includes licensing INVELOX technology rights to qualified companies to sell, manufacture, construct, and commission using local resources. "The idea is to distribute our power generation system to the globe as quickly as possible. By allowing regions to sell and produce a product with local human resources, supply chain and materials it is a win for local people, economy, global climate, SheerWind, and our stakeholders. We are inviting people around the globe to join us to realize our vision of affordable electrical power for all," Dr. Daryoush Allaei, founder of SheerWind said. "With growth funding, we intend to accelerate conversion of global demand into sales and increase the number of Hub licensees deploying INVELOX systems."
The International Energy Agency reports that over 1.3 billion people globally are without access to electricity and 2.6 billion people are without clean energy cooking facilities. Reliable, cost-effective energy is key to improving the quality of life in developing nations where there is little or no access to electricity. SheerWind’s INVELOX has the potential to provide wind energy in regions previously limited by low wind speeds, land space, or funds for the required infrastructure of traditional wind systems. Accessible power provides potable water, safe food, health care, communication and transportation options, all creating economic development and enhanced quality of life.
With a goal to add 8–10 more licensed distribution Hubs in 2016, SheerWind expects to play a significant part in the global push for climate friendly energy. "With 20–30 global inquiries a week, with the proper funding, we see this goal as readily attainable," said Steve Faber, Chief Sales Officer. "We look forward to signing global partners with the common goal of providing clean, affordable energy to those who need it most."
"We get inquiries weekly from talented people wanting to work with us on our mission to provide sustainable, affordable energy to anyone, anywhere. The growth funding will help us hire the best engineers, project managers and sales team to optimize, design and deliver INVELOX systems to our licensees worldwide, while converting our growing global demand to sales," added George Manos President.