Rooftop wind energy innovator Aeromine Technologies announced that it has closed about $9 million funding round to drive the roll out of its motionless and on-site wind energy solution. And Veriten, the energy research and investment firm is the lead investor of the Series A funding round. Other investors in the round included global engineering firm Thornton Tomasetti and family offices.
Aeromine will use this latest funding 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 are 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.
The space-efficient Aeromine units are mounted on the edge of a building’s roof and have no external moving parts or blades. They capture wind flowing up and over the building and convert it into on-site electricity.
Aeromine is able to 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% of their energy needs on-site. And 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. The systems typically feature of 20-40 units installed on the edge of a building facing the predominant wind direction.
Aeromine received nearly 11,000 inquiries from more than 6,500 companies and currently has a pipeline of 400 qualified projects. These customers, predominantly 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 due to grid supply and demand instability or the environmental impacts from extreme weather associated with transporting energy.
The growth of commercial and industrial on-site solar has driven the increase in on-site generation capacity in recent years, and wind energy harvesting tech such as Aeromine’s solution has been shown to complement solar very well by providing incremental capacity with a complimentary production profile. And volatile energy prices and energy scarcity in Europe in recent years have made energy supply issues a strategic priority at the board level for large multinational corporations. The importance of a stable energy supply cannot be taken for granted, as several countries are already facing energy shortages from the grid that result in frequent brownouts. The grid-redundancy in the form of on-site generation and battery storage is becoming an increasingly critical element of the energy mix.
Many companies are also impacted by national and regional grid constraints and volatile energy prices that may impact their businesses. They have established programs to diversify their energy resources, including significant investments in on-site distributed resources. European Union companies must now report annual ESG improvements and targets, and many large U.S. cities are implementing green energy and carbon reduction goals. Aeromine’s rooftop wind solution handles the increasing demand for dependable, distributed, clean power generation.
KEY QUOTES:
“Distributed power is a key and increasingly strategic element to an evolving ‘all the above’ energy mix. 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.”
– Maynard Holt, Founder & CEO of Veriten
“We are extremely excited about introducing the Aeromine product to the mass market. This latest investment will help Aeromine scale production and global market development activities to capitalize on this multi-billion-dollar distributed energy market opportunity. Aeromine fills a critical market need in providing incremental on-site generation to allow customers and buildings to maximize the power they harvest on their rooftops.”
“As Aeromine Technologies continues to pioneer the future of renewable energy, this significant funding round marks an important step towards our vision to deliver scalable innovation to maximize on-site power generation.”
– Aeromine Co-Founder David Asarnow, a veteran of the climate and property technology industry
