Pioneering Energy Technology-Investment Firm Leads
$9M Capital
Raise; Advances Urgent Sustainable Solutions for a
Changing World
IRVINE,
Calif. & HOUSTON, May 22, 2024
/PRNewswire/ -- Rooftop wind energy innovator Aeromine Technologies
announced that it has closed an approximately $9 million funding round to accelerate the roll
out of its breakthrough, motionless, on-site wind energy solution.
Veriten, the energy research, investing, and strategy firm, is the
lead investor in the Series A funding round. Additional investors
in the round include global engineering firm Thornton Tomasetti and
family offices.
Aeromine will capitalize on the latest investment round to
expand its reach through increased production scale and global
market development.
At a time when maximizing on-site generation and transitioning
to clean energy is more critical than ever, Aeromine has created a
patented rooftop wind harvesting platform that utilizes the power
of wind for smaller footprints, including commercial buildings, at
a competitive cost. In doing so, Aeromine is contributing to the
global shift towards renewable energy sources.
Unlike huge onshore and offshore wind farms, the space efficient
Aeromine units are mounted on the edge of a building's roof and
have no external moving parts or blades. Aeromine units capture
wind flowing up and over the building and convert it into on-site
electricity.
Aeromine can help owners of apartment buildings, warehouses,
manufacturing facilities, offices, hospitals, retail centers and
nearly any large building with a flat unobstructed roof produce up
to 100 percent of their energy needs on site. The technology
leverages aerodynamics similar to airfoils on a race car to capture
and amplify each building's airflow to generate around-the-clock
energy. Systems typically consist of 20-40 units installed on the
edge of a building facing the predominant wind direction.
Since its launch in late 2022, when Aeromine was recognized as
one of the year's Top 200 Inventions, the technology has been
featured in numerous media outlets including the Wall Street
Journal, Fast Company, and the Washington Post, and was also named
one of the Top Building Products of 2023 by Building Design+
Construction. Aeromine is also part of AEC Angels' portfolio,
an investment platform made up of industry leaders and technology
investors across the Architecture, Engineering, and Construction
sectors.
Aeromine has received nearly 11,000 inquiries from more than
6,500 companies and currently has a pipeline of 400 qualified
projects. These customers, predominately in the industrial,
logistics, financial (portfolio owners/developers), automotive,
commercial and government sectors, are split evenly between
Europe and the U.S., with
additional interest coming from the Asia
Pacific region, Latin
America, and Australia/New
Zealand.
Designed to produce energy independently or integrate seamlessly
with existing solar arrays, Aeromine's motionless, quiet units
easily adapt to existing electrical infrastructures. Since power is
generated on-site, Aeromine eliminates disruptions in power due to
grid supply and demand instability or the environmental impacts
from extreme weather associated with transporting energy.
"Distributed power is a key and increasingly strategic element
to an evolving 'all the above' energy mix," said Maynard Holt, Founder & CEO of Veriten. "We
believe that distributed power innovation will play a vital role in
helping companies fulfill their need for reliable, reasonably
priced electricity and desire for low-impact power. We're excited
to partner with Aeromine, as its ability to quickly and affordably
help a wide variety of companies meet their energy needs with wind
resources is unique among distributed energy solutions."
About Aeromine Technologies
Aeromine Technologies has
developed a breakthrough scalable renewable energy solution that
harnesses the power of wind in an efficient system. Aeromine units
install on the edge of the building roof, they are motionless,
vibration- and noise-less. System installations are typically 50 kW
or larger. The solution is robust, long-lasting, and requires much
less rooftop space than other options to generate distributed
energy. Ideal for large, flat rooftop buildings – including
warehouses, big box retailers, data centers, office, and apartment
buildings - Aeromine leverages existing financial structures,
installation resources and incentives established by the solar
industry.
About Veriten
Veriten is a research, investing, and
strategy firm that draws from its energy-focused network and
knowledge platform to bring diverse perspectives to the long-term
energy discussion, helping our industry partners and investors
improve strategic decision-making. Veriten leverages its research
and strategy work to inform its investment strategy at NexTen, the
firm's energy-focused investment fund. Independent and
employee-owned, Veriten is committed to truth in energy, strength
through partnership, rigorous analysis and research, and
intellectual honesty.
For more information about Veriten, please visit their web page
at www.veriten.com.
Contact:
Great Ink Communications – 212-741-2977
Roxanne Donovan, Eric Gerard, Francisco
Miranda, Lindsay Church
378087@email4pr.com
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SOURCE Aeromine