Germany-based power utility RWE Innogy has become an exclusive regional distributor of small wind turbines maker Quietrevolution two years after taking a minority stake in the UK-based business through its corporate venturing unit.
RWE Innogy has agreed to sell up to 100 units of the wind turbine in Germany by the end of next year.
In September 2008, RWE’s corporate venturing unit, now called Innogy Venture Capital, invested £6m ($9m) in Quietrevolution as part of a £7m round.
In June this year, Crispin Leick, head of Innogy Venture Capital, became a board member of Quietrevolution and at the time of its investments said: ""The purpose of our involvement is to take this promising technology towards mass production, so it will become commercially usable."
Fritz Vahrenholt, chief executive at RWE Innogy, in 2008 added: "The local supply of electric power to individual buildings from renewable energy will become increasingly significant. Small wind power units on roofs can make a major contribution to this goal, especially in places with insufficient sunshine, so that photovoltaics would not be efficient enough."