PR – RWE Innogy GmbH in Essen, Germany, is taking a minority shareholding and making a £6m GBP (EUR 7.5m) capital injection into Quiet Revolution Ltd, an innovative small wind turbine company based in London UK. The company specialises in the develop-ment and manufacture of small-scale wind power units. Their flagship product, the 6 kilowatt QR5, is a vertical axis wind turbine especially suited for local energy production in built-up areas which can be installed either on buildings or as a stand-alone turbine.
"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," says Prof. Fritz Vahrenholt, Chief Executive Officer at RWE Innogy. "The purpose of our involvement," adds Crispin Leick, head of the Ventures Division, "is to take this promising technology towards mass production, so that it will become commercially usable." Around 30 turbines have to date been produced and installed at clients’ sites around the UK, and a further 45 have been sold and are at the manufacturing and installation stages. Robert Webb, Chief Executive Officer and co-founder of Quiet Revolution says: "We are delighted to be working with RWE Innogy to deliver efficient local wind energy. This investment will allow us to rapidly expand our production capacity to meet demand, and develop a range of new products to satisfy needs in a global marketplace.”
The triple-helix-shaped wind turbines are five metres high and just over three metres wide. The turbines are vertical in orientation and generate electric power by turning around their own axis. They can be installed on roofs and even in clusters. This investment is the second one involving a young technology company as part of RWE Innogy’s venture capital activities.
Being a driving force in future technologies, RWE Innogy is planning through its Venture fund to invest in a large number of promising young technology firms, thus providing a major boost to such forward-looking technologies in Europe. The main emphasis of the venture area is on the funding of young companies during their start-up or growth stages by providing such businesses with equity capital or similar funds. The total budget that has been earmarked for this purpose is EUR 50m per year.