NewNet News - FloDesign raises $34.5m and appoints new CEO

FloDesign raises $34.5m and appoints new CEO

20th January 2010

Wind turbine developer FloDesign Wind has raised $34.5m in a Series B financing round and appointed the former president of wind turbine maker Vestas as its new CEO, according to reports.

Kleiner, Perkins, Caufield & Byers was joined by a Goldman Sachs managed investment fund, Technology Partners and VantagePoint Venture Partners in the funding round.
Lars Andersen, former president of Chinese wind turbine maker Vestas, has also stepped into the role of CEO.

Reports suggest that the company intends to also make the transition from being and research and development company to manufacturing turbines. The company’s prototype 150KW wind turbine has been undergoing testing for several months.

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FloDesign raises $34.5m and appoints new CEO

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