TwingTec closes financing round

TwingTec uses a wing on a tether to harness the kinetic energy of the wind. After three years of basic technology development, the start-up enters now into the pilot phase. The goal is to demonstrate the long-term reliability the technology. A financing round and new grants enable the TwingTec to start the pilot phase.

TwingTec has closed a financing round end of May. Current investors and new angel investors have contributed. Having recently reached the key power production milestone with a small scale prototype, the new funds will enable TwingTec to scale up their system and to demonstrate long term reliability. CEO Rolf Luchsinger says: “After more than three years of basic technology development this financing round together with financial backing from new grants allows us to start phase II we call the pilot phase. Our main goal in this phase is to demonstrate the long term reliability of our technology. This is the key to a successful execution of the first customer projects which we are currently lining up. With our excellent partners and our great team we are now perfectly lined up to achieve this goal”.

TwingTec is developing a new kind of wind energy technology. By using a tethered wing or Twing, the stronger winds at higher altitudes can be harvested. Without a tower or foundation the system is easy to transport and can be setup or demobilized without a crane, a key advantage for remote off-grid locations.

TwingTec’s first product, the TT100 is a containerized mobile wind energy system producing clean electricity cheaper than fossil fuels. Fully autonomous and easily deployed, the TT100 offers significant diesel savings as well as uninterruptible power supply (UPS) functionality.

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