$3 Million Wind Energy Raising
Renewable Energy Solutions Australia (RESA) is looking to establish and outsource large scale production of its inverter products, expand the manufacture and distribution of its wind turbines, and commence international marketing and distribution of the inverters and turbines in the US, Japan and UK.
The company is raising $3.15 million to fund these activities. The offer values the company on a pre-money basis at $12.6 million.
RESA is best known for its Eco Whisper Turbine, an innovatively designed silent wind turbine that comes in two models. The 650 turbine is 21 metres high and generates up to 20 kW for commercial and industrial applications, the 325 turbine is 19.6 metres high and generates up to 5 kW for smaller or residential power needs. They can also be used off grid.
The 650 in now on sale while the 325 is due for release soon.
The Eco Whisper Turbine has a 30 blade design that is virtually silent and up to 30 percent more efficient than traditional three bladed designs. It also has a smaller footprint.
The Eco Whisper Turbine.
The turbine has been installed on two sites in Victoria and further orders are in the pipeline.
The Eco Whisper has previously received a $250,000 commercialisation grant, and last year won the 2012 Queensland Premier's Sustainability Award for Innovation in Technology.
RESA also makes the VoltLogic Statcom inverter that regulates and improves power efficiency. It is designed for low voltage distribution networks and can export or import power. It was co-developed with two distribution grid operators in response to their problems and need for a more cost effective solution to network augmentation options, and is now marketed to distribution grid operators nationally.
RESA says that Eco Whisper incorporates the Voltlogic inverter. It performs comparably to solar generation but with a smaller footprint and is capable of operating day and night.