Southwest Windpower, a US-based renewable energy provider backed by strategic investors, has acquired Deerpath Energy, a provider of wind turbines siting software. No financial terms were disclosed, although the two groups had been strategic partners since 2007.
Last August, Windpower raised an undisclosed sum to help it expand outside of the US and it subsequently hired Kate Sizer to head up its European operations from Germany.
This last round of funding was provided by US-listed industrial conglomerate General Electric’s GE Energy Financial Services division and venture capital and asset management firms PCG Clean Energy and Technology Fund, Altira, NGP Energy Technology Partners and Rockport Capital Partners.
Kevin Skillern, managing director and leader of venture capital at GE Energy Financial Services: "In many applications, Southwest Windpower offers the most economic distributed renewable generation technology, and GE is helping the company accelerate adoption of that technology."
However, four months earlier, GE, Altira, Rockport, NGP and CTTV Investments, the venture capital arm of oil major Chevron, provided $10m.
Windpower’s extended series B round in May 2007 raised $6.5m to add to the $8m invested the year before in a round led by Rockport.
Deerpath has also raised $3.5m from Rockport.