The state is filling the sails of Torrington-based Optiwind with an eye to bringing wind energy to enterprises in places like Connecticut that lack hat-stealing winds on a consistent basis.
Connecticut Innovations, the state”™s quasi-public authority responsible for technology investing and innovation development, has invested in the company.
“We want to help this Torrington company create cutting edge green technology jobs right here in Connecticut,” said Governor M. Jodi Rell. “At the same time, we can help Optiwind to advance its efforts to address climate change. This state investment is a win-win scenario.”
The deal is the second investment to be made from the Connecticut Clean Tech Fund, a partnership between Connecticut Innovations, the Department of Economic and Community Development and the Connecticut Clean Energy Fund.
“We are very excited to be partnering with the state of Connecticut,” said Russel Marvin, CEO of Optiwind. “As we develop the foundation for a global company, we are finding excellent people and resources right here at home and this partnership with CI will clearly help to accelerate our growth.”
The fund makes investments in companies focused on innovations that conserve energy and resources, and that protect the environment or eliminate harmful waste. Charles River Ventures of Waltham, Mass., also participated in the $3 million round of financing.
Optiwind has developed a novel design for mid-sized compact wind acceleration turbine systems, which are ideally suited for installation at commercial, industrial and institutional properties.
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“When you think about wind energy today, you probably think about giant white 3-blade turbines lined up on windswept Western prairies,” said Marvin. “What makes Optiwind different is that we make it possible for you to own your own wind turbine and place it right where you need the power; at your business, school, healthcare facility, residential development or government office.”
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Marvin said Optiwind”™s design consists of an array of six or 12 turbines mounted on a large cylinder that rotates so that the turbines always face prevailing winds. The design takes advantage of the physical property that causes a substance with fluidity to accelerate along the face of a cylinder. He said in the Optiwind system, this acceleration results in an eightfold increase in the recoverable wind energy, making Optiwind”™s technology cost effective in areas with lower average wind speeds.
“We bring the height down to 200 feet,” said Marvin. “We change the blade design, going from one giant, three-blade fan to a series of 5 bladed fans that are less than 10 percent the size, and instead of taking whatever wind speed is available, we funnel the wind into our fan blades, accelerating it and thereby allowing people in lower wind speed areas to potentially enjoy the advantages of wind power, as well.”
Peter Longo, president and executive director of Connecticut Innovations, said, “Optiwind”™s technology has the potential to make wind energy generation a viable, cost-effective option in geographic regions with subpar average wind speeds and that”™s exciting. There are few companies competing in the mid-sized distributed wind energy market, and because of the cost and efficiency advantages of Optiwind”™s technology, Optiwind stands to capture a significant share of this market.”
