UK-based business with a patented, radical new wind turbine system, which dramatically improves efficient power output, required significant proof-of-concept funding. New Model arranged the necessary funding through a US investor and potential JV partner for a design and development programme.
This required positioning the finance offer for an investor partner with a ratcheted equity incentive. In total £7.6m of equity-linked finance was raised.
Final commercialisation of the energy system is targeted for 2017/18, focusing on the US, European and Middle Eastern markets.