Danotek Motion Technologies receives funding to produce Wind Turbines

GE Energy Financial Services (GEFS) and three other venture capital firms are making a combined $13.2 million investment in Danotek Motion Technologies to bring to market a next generation, permanent-magnet generator for wind turbines.  The investment enables Danotek to expand research and development, install utility-scale load testing equipment, hire and train workers, and launch production of 4,000 permanent-magnet generators annually. The company expects that it will begin production and shipping of utility-scale generators (up to 3 MW) in the third quarter of 2010.  In June Danotek celebrated the opening of its Canton, facility that will produce generators for wind turbines.  The 40,000 sq.ft. facility will be home to 150 professional and skilled jobs.