Pentalum Tech gets strategic investment from GE Ventures
Jul 10, 2013 - Israeli wind measurement systems developer Pentalum Technologies Inc said on Tuesday it had received a strategic investment from the venture capital unit of US conglomerate General Electric Co (NYSE:GE).
The exact amount of the investment was not given.
Pentalum develops a light detection and ranging (LiDAR) system for remote sensing of wind, called SpiDAR. The technology has the potential to cut the cost of wind energy by boosting energy capture and mitigating mechanical loading due to extreme wind events.
The firm plans to spend the proceeds on supporting the continued development and market penetration of its systems for wind turbine control.
GE is active in many areas, wind turbine making included. According to data by BTM Consult from earlier in 2013, GE outstripped Danish wind turbine maker Vestas Wind Systems A/S (CPH:VWS) as the number one turbine original equipment manufacturer (OEM) globally in 2012.