Leviathan Energy Inc., a developer of products for the renewable energy industry, recently split its activities on behalf of its large wind turbine enhancement product line into a strategic joint venture that will market its wind energizer in major markets. According to the agreement, Leviathan will also provide the new company with services such as research and development and manufacturing at cost plus 10%.
The first phase of the partnership will focus on Europe and North America. A European investor is providing the capital and management. In the initial phase, Leviathan Energy will be paid for marketing activities on behalf of the new company, which has not yet been named.
‘While there is a waiting period of three years to obtain a new wind turbine, this invention enables wind farms to increase their productivity immediately,’ says Daniel Farb, CEO of Levithan Energy. ‘This partnership will enable us to make worldwide sales in 2009.’
According to Leviathan, the wind energizer enables large turbines to improve their power output by 20% to 40%. It has been successfully tested at the company's experimental wind park.
SOURCE: Leviathan Energy