Seaforth Energy Secures $2 Million Financing

Seaforth Energy Inc., a wind turbine manufacturer and renewable energy integrator, has secured C$2 million in financing from Innovacorp, the Business Development Bank of Canada (BDC), Seaforth Engineering Group and private investors.

The funds will be used to accelerate the company's export growth in new markets and scale up operations as it delivers on its committed backlog of orders.

Based in Halifax, Nova Scotia, Seaforth Energy manufactures and exports the AOC 15/50, a 50 kW wind turbine. The AOC 15/50 is sized for institutional, commercial, industrial, agricultural and remote applications. In addition, Seaforth Energy's renewable energy systems integration group provides design, engineering, construction, installation and maintenance for renewable energy solutions to residential, commercial, industrial and institutional clients.

‘Given the accelerating adoption around the globe of feed-in tariffs for wind systems like the AOC 15/50 and renewable systems, the market potential for us is growing every day,’ says Jonathan Barry, president of Seaforth Energy. ‘This financing enables us to pursue those opportunities.’

SOURCE: Innovacorp


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