Small is Beautiful: Helix Power’s Weinbrandt Sees a Small Wind Turbine On Every Rooftop

7/8/09Follow @bvbigelow

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wind companies, Weinbradt says, “We see a consolidation happening. The small mom and pop outfits out there that have technology but no management are falling by the wayside.”

Gardner and Morgan founded the company in 2006, using private funding, and Helix Wind became public through a reverse merger in February with an inactive shell corporation that had no specific business plan. Gardner, who holds a 36 percent stake in the company, continues to serve as CEO and a board member, according to SEC filings. Morgan is no longer involved in Helix Wind, although he continues to hold a 31 percent stake in the company.

Scott Weinbrandt

Scott Weinbrandt

Weinbrandt says he also sees opportunities in using Helix Wind’s turbines to power wireless communication base stations that may or may not be connected to local power grids in remote areas of South America, Africa, and the Middle East. The company says its wind turbines also are ideally suited for pumping water in developing nations, and could be used in conjunction with compressor technology for injection pumps used by the petroleum industry to increase oilfield yields. Helix said last month it had signed a joint development agreement with a Marrero, LA, company called CheckPoint Fluidic Systems to develop an advanced wind turbine pneumatic pumping system for the oil and gas industry. Helix says it has developed a unique wind turbine rotor and CheckPoint has certain technology in precision chemical injection pumping systems.

Weinbrandt tells me it’s been easy to raise capital for Helix Wind among green investors, but the company’s financials look more like a briar patch. In financial results for the first quarter that ended in March, Helix disclosed a working capital deficit of $827,193 (excluding a $15.2 million liability) and an accumulated deficit of more than $25 million. That’s enough, the filing adds, to “raise substantial doubt about the Company’s ability to continue as a going concern.”

Helix also estimates it will need $3 million for operations over the next year, and the company “presently does not have any available credit, bank financing or other external sources of liquidity.” To raise additional capital, the company says it may need to sell additional shares of its common stock or borrow funds from private lenders. The company notes in its SEC filings it is authorized to sell 1.75 billion shares of its common stock. As of May 4, Helix says it has about 37.4 million shares outstanding.

Despite such ominous language, a couple of recent announcements suggest a brighter outlook for Helix:

—Helix said on June 25 it is acquiring Venco Power, a German maker of so-called Darrieus turbines, which often resemble giant egg-beaters. In a later regulatory filing, Helix says it’s paying 2.8 million Euros (about $3.9 million at current exchange rates), with 33 percent paid in shares of Helix stock. Helix says it will immediately begin selling three Venco models, which range in price from $4,000 to $250,000, and which range from a small 300-watt unit to a 50-kilowatt unit, capable of generating enough electricity for scores of homes.

—Helix unveiled new “smart grid” technology on June 30 with the introduction of a wind turbine monitoring system capable of recording and reporting a variety of performance metrics, including a wind turbine’s speed, energy output, inverter data, generator frequency and other variables. Weinbrandt describes the system, which reports data to Helix Wind’s network operating center, as “the first phase of smart grid technology solutions to come from Helix Wind.”

With its stock currently trading at about $3 a share, Helix has a market valuation of roughly $100 million and Weinbrandt says, “It’s all been good news. We’ve just added three new products and our business continues to ramp.”

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788 Follow @bvbigelow

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  • http://NONE AR MARIN

    HOW MANY KWH/YEAR HAS THIS TURBIN PRODUCED?
    WHERE IS IT LOCATED?

  • http://NONE AR MARIN

    HOW MANY KWH/YEAR HAS THIS TURBINE PRODUCED?
    WHERE IS IT LOCATED?

  • Stan Kaplan

    Can you give me a rough idea of cost versus savings for a domestic installation?

  • Pingback: Wind Turbines For Urban Areas? | Yes We Can Do This | Mostly (New) Media - Definitely Digital

  • Harris Sobin

    What is approx. price for a small unit, installed, for a single family residence?

  • marc robinson

    Our non-profit is working on a project in jackson county oregon. A monolithic concrete dome lodge that will, demonstrate and showcase green technologies to it’s residents, and to the public as well.
    It will use the power of a 4 apt. multi-family home. How many turbines would we need, and about how much per

  • http://centurionenergy.net Bracken

    I like the roof top VAWTs. I think savionous (including your helix) are very attactive. I hope these become more available for private residences.

  • Greg Reiva

    As a physics high school science teacher, I have involved my students with scientific analysis of blade wind turbines and even the Helix type turbine. Wind energy is one of the most tried and true methods to harness clean energy out of the environment. It is proven, dependable free energy courtesy of mother nature.

    I believe that if public institutions such as libraries, museums, city hall and other public utilities began to incorporate this new technology within their established energy operating systems, then it would help to raise awareness in our communities to more quickly bring new wind energy paradigm into existence within society as a whole.

    Today, these new alternative energy technologies must be quickly integrated as a fundamental and core source of energy for our needs. Public awareness is crucial to help fuel the political debate to move quickly as a country and make great strides in bringing forth a green revolution in our economy and in our society.

  • Stu Pidaso

    The Helix turbines break all the time and wouldn’t run a vibrator

  • http://jasinskiai@aol.com D.Jasinski,A.I.A.

    I would like to put 4 or 8 identical helix turbines connected in series on my home facing in different directions to make the most of the available wind and for aesthetic effect.
    Is this technically feasible?
    Do I get a cost break for quantity and/or for creative use of your products?

  • Bill Doe

    Does Stu there have a point? Do these break.. everything I’ve been reading so far seems bias and positive. Balance sheet is a ghost town, stock has lost like 99% of its market cap practically since this ‘featured’ article. Can anyone explain why that is?

    I bought 10k at half a penny so I can dream how sweet it would be if this stock went back to a buck. $50 to dream is pretty cheep

  • Charles H. Briggs Jr.

    What environmental testing has ben done on a production run version of which models?
    I would be particularly interested in long term exposute to Sea spray and vapors (mists).
    I would also be interested in how the bearing life would be affected if ynits were installed on top of a telephone pole. Vibrating in the wind. What likely resonant frequency in the wind on pole might be.
    Another question would be how the aluminium would survive in a constantly sea spray & mist. I have 53 poles as possible sites for aplication.

  • Pingback: In a Requiem for Helix Wind, Critics Come to Bury More Than Praise | Xconomy

  • http://www.facebook.com/clive.roux Clive Roux

    Lots of questions of course but we need a breakthrough in affordability and performance to get some volume. We’re cheering for you to succeed and show the way with domestic wind energy to help people Live Green! http://www.livegreen.cc