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Danotek raises $13.2 million for energy technologies

The Canton Township-based Danotek Motion Technologies  has received $13.2 million of investment to push wind turbine technology.

Excerpt:

Four of the world's leading renewable energy venture capital firms are partnering for the first time with co-investments to bring to market new technology that will make wind turbines more efficient, reliable and affordable.

GE Energy Financial Services, CMEA Capital, Khosla Ventures  and Energy Capital Management will invest a combined $13.2 million in Danotek Motion Technologies, a company that develops and manufactures advanced generators and components to supply wind energy to the power grid. The company also produces motors, drives, pumps and other accessories for electric and hybrid vehicles.

The investment enables Danotek, based in Canton Township to expand research and development, install utility-scale megawatt load testing equipment, hire and train workers and launch production of a projected 4,000 permanent magnet generators annually.

"We are gearing up to support the rapid growth of the global wind market," said Dan Gizaw, president and CEO of Danotek. "Wind turbine manufacturers and wind farm developers are significantly expanding operations worldwide, particularly in Europe, China and the United States. We design and manufacture advanced permanent magnet generators and power conditioning systems that enable those business ventures to dramatically improve energy efficiency, cut costs and increase revenue."

Read the entire article here.
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Related Company

  • Danotek Motions Technologies
    8680 N. Haggerty Road
    Canton, MI 48187 Website
    Danotek Motion Technologies, Inc. (Danotek) is a clean technology company that develops high efficiency energy conversion systems for the energy and transportation markets. The company has patents pending on several high energy efficiency products: ...