Eocycle Technologies, a promoter of energy production through distributed wind turbines, has received $25 million in financing to expand its operations in key markets throughout the U.S. Midwest and Great Plains, as well as in Europe. The deal was led by Export Development Canada, and also backed by the Fonds de Solidarité FTQ, which each invested $10 million. This investment has been complemented by a $5 million loan from Investissement Québec.

The company manufactures 25 kW and 90 kW wind turbines designed for on-site production of clean electricity at rates significantly lower than utilities can provide. This model is ideal for farms, or commercial and industrial facilities looking to cut their energy costs and meet emissions targets. The term ‘distributed wind’ indicates that the turbines are connected to the power grid, meaning any excess power they generate will be sold into the grid, ensuring no power is wasted, and optimizing the user’s revenue and savings. These small turbines are designed primarily for rural area, and provide a surprising amount of electricity relative to their size.

Source: Eocycle TechnologiesSource: Eocycle Technologies

“Global energy production continues to pivot towards renewables not only because of strict regulations to cut emissions, but also because products like Eocycle’s wind turbines can save customers significant cost on their energy bill. Just one of these devices could cut energy costs by over $1 million over the life of the turbine,” said Richard Legault, president and CEO of Eocycle Technologies. “Now, these visionary investors have seen the business case for our products as well, and decided to provide the financing necessary to accelerate our expansion in the American and European markets, where the combined total market potential is estimated to be $200 billion.”

The financing will be used to increase staff by more than 50%, bringing on new people in sales, production and customer service, as well as ongoing R&D to further optimize financial returns for users. Eocycle forecasts this will more than double sales next year, and significantly cut the time it takes to deliver operational turbines to customers from Minnesota to Belgium and from Scotland to Colorado.

Following this investment, Eocycle now stands alone in distributed wind power generation, serving multiple markets with its full range of end-to-end services and offering multiple power generation options tailored to meet the needs of customers with a range of diverse requirements.

In 2022, the U.S. Department of Energy’s National Renewable Energy Laboratory estimated that in the U.S., distributed wind ‘’has the potential to profitably deploy nearly 1,400 gigawatt of energy capacity. This amount equates to more than half of the nation’s current annual electricity consumption.’’ This may be the reason the U.S. Inflation Reduction Act offers financial incentives of up to 80% for users to make the switch to on-site wind power generation.

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