Blade Dynamics, a UK-based maker of wind turbine blades founded by sector veteran Paul Rudling from SP systems, has raised an undisclosed amount of funding from Dow Ventures, the corporate venturing division of US industrial company Dow Chemical.
Blade has also sold a quarter of its shares to American Superconductor (AMSC), a US-listed power technologies company, for $8m.
Rudling said: "Our wind turbine blades provide compelling performance and efficiency advantages for wind turbine manufacturers.
"Blade Dynamics will now be able to utilize AMSC’s wind turbine design capabilities and business model as well as Dow’s global reach and composite materials."
Greg Yurek, AMSC founder and chief executive, said: "Many wind turbine manufacturers, including our own AMSC Windtec licensees, [are expected] to quickly migrate to Blade Dynamics. AMSC Windtec and Blade Dynamics engineers have already been working in close collaboration to optimize blades for AMSC Windtec turbine designs."
Monty Bayer, global business director of Dow Ventures, said: "This investment is another example of Dow’s commitment to supporting and accelerating the development of innovative technologies and alternative energy solutions."
Separately, US state agency Louisiana Economic Development said it would provide $30m to Blade Dynamics to set up a manufacturing facility in New Orleans’ National Aeronautics and Space Administration’s (NASA) Michoud Assembly Facility.