Wind Power Holdings, With Big Michigan Footprint, Raises $12.7M
Barre, VT-based Wind Power Holdings, the parent company of wind turbine developer Northern Power Systems, has wrapped up a $12.7 million round of equity-based funding, according to a document filed with the SEC. The filing notes that the money comes from 33 investors, including two from outside of the U.S.
Northern Power, which dates back to the 1970′s and was purchased out of bankruptcy in 2008, has recently been focusing some of its attentions on the wind energy sector in Michigan. The company is aiming to produce its utility-scale wind turbines with the help of Saginaw, MI-based Merrill Technologies Group, and shipped its first prototype to Traverse City, MI-based Heritage Sustainable Energy late last year.
Wind Power Holdings indicated through a regulatory filing in October 2009 that it planned to raise $45 million in equity-based funding. It is unclear whether the most recent financing is related. The company has not yet returned a call seeking comment on the financing, but we’ll update this story if we receive any additional details on the funding round.