Chapdrive raises €6m in funding for wind turbines

12 February 2009

Norwegian technology firm Chapdrive has raised NOK52m (€6m) in additional funding to finance a 5MW hydraulic transmission for wind turbines. The money was raised through an industrial R&D agreement between StatoilHydro, ChapDrive and Innovation Norway.

The package covers an equity investment from existing shareholders NorthZone Ventures, Hafslund Venture and Energy Capital Management of NOK18m (€2.1m). StatoilHydro added NOK15.6m (€1.8m) from its LOOP Industrial Supplier Development programme, while Innovation Norway granted NOK18m (€2.1m).

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Tags: wind

This story was published on Thursday, February 12th, 2009 at 5:40 pm and is filed under Europe, deals, wind. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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