UK NGenTec gets GBP-2m funding, finds partner to develop direct drive wind turbine

(ADPnews) - Nov 5, 2010 - UK clean energy generators maker NGenTec, has raised GBP 2 million (USD 3.2m/EUR 2.3m) in equity funding and partnered with a major manufacturer to step up development of its direct drive wind turbine technology, CEO Derek Shepherd said on Wednesday.

"We have an industrial partner which is a huge global manufacturing company, which has aspirations in wind but does not have anything in the generator side", Shepherd said.

He added NGenTec was close to sign a memorandum of understanding with with an unnamed industrial partner. The agreement will allow the for the production of a 1 MW prototype direct drive wind turbine as early as July 2011.

After it installs the prototype, NGenTec, which is an Edinburgh University spin-off, can contract the same manufacturer to build a full-size 6 MW demo turbine by 2012, and start the marketing the device probably by 2014.

According to NGenTec, its turbine has a 50% lighter design than other direct drive turbines on the market and can be assembled more easily thanks to the permanent magnets formed into rings that it utilizes.

Earlier this year the company received GBP 800,000 government grant to develop its technology.

Shepherd said he would make further announcements next month.

(GBP 1 = USD 1.619/EUR 1.144)

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