Breakthrough Technology For Wind Farms Begins New Crowdfunding Campaign
After raising nearly $2M on Wefunder, Wind Harvest has opened a new crowdfunding offering with the goal of raising $1 million.
Davis, California: This week, Wind Harvest, developer of an H-type, vertical axis wind turbine, has launched a new Crowdfunding campaign on the SEC- approved platform, PicMii. After raising nearly $2M on Wefunder, Wind Harvest has opened a new crowdfunding offering with the goal of raising $1 million.
"Our first Reg CF offerings funded us to move our Wind Harvester turbine through Technology Readiness Level 7 (full-scale testing in industrial conditions)" said CEO and Co-Founder Kevin Wolf. "With the value of our shares rising, this offering is a unique opportunity for non-accredited investors to invest in a company whose products will be the first to open mid-level markets to development."
According to its crowdfunding page, the company's near-term goal is to bring its technology through product certification (TRL 8) and set the company up to sell turbines to the projects it has in development.
"With the passage of the Inflation Reduction Act, tax credits will be locked in for ten years. Certification allows Wind Harvester projects to qualify for the 30% tax credits and additional US manufacturing subsidies,," stated Mr. Wolf. "Being in this environment and less than a year away from certification and sales is a great time to be raising capital for a company with a future as bright as ours."
Wind Harvest turbines are designed to capture turbulent mid-level wind that traditional horizontal axis turbines cannot harvest. The company estimates that if H-type vertical axis wind turbines are installed in California's existing wind farms and resource areas, they will produce 17%-41% of the green energy needed for the state to reach its carbon-neutral energy goal by 2045, and at a lower cost than other options.
"Our project sites in California, Wyoming, and Barbados have great wind resources and power purchase agreements available that cannot be realized with traditional turbines, but can with our compact Wind Harvester turbines," said Alana Steele, Wind Harvest's General Counsel and COO of the Company's soon-to-be wholly owned subsidiary, Wind Harvest Renewables (WHR), which is dedicated to project development.
Wind Harvest International, Inc. is a California-based renewable energy technology company, founded in 2006. The company makes, sells, and develops projects for its Wind Harvester brand of H-type turbines, the only known product designed to harvest the highly energetic, turbulent wind that blows 15-80 feet above the ground. Wind Harvest's wholly-owned financial subsidiary Wind Harvest Pilot Project Inc. raises funds and loans it to the parent company.
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