Danotek Secures Funding From Renewable Energy VC Firms

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Danotek, a developer and manufacturer of permanent magnet generators and related converter systems that deliver wind energy to the power grid, says it has secured $15 million in funding.

Led by four renewable energy venture capital (VC) firms – Khosla Ventures, CMEA Capital, GE Energy Financial Services and Statoil Technology Invest – along with independent contributors, the Series B financing round will help bring to market new technology that will make wind turbines more efficient, reliable and affordable, Danotek explains, adding that the funds will be used to expand research and development initiatives, as well as to launch initial production.

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