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Development Fund's investment: in two stages, totalling EEK 3,937,500
Development Fund's holding: 21.37%
Brief introduction and ambition: Goliath Wind OÜ develops a new type of cheaper and more efficient wind turbines. Conventional turbines include gearings, which are the weakest link in their construction, and in the case of turbines with direct drives their shortcomings are massive size and material intensity. The company's goal is to reach wind turbines, which are lighter, more durable and with a starting capacity of 1.5 Megawatts, and would give 15-20% cheaper electricity than is currently available for wind turbines. The new technological development is based on an idea developed by Professor Ed Spooner from Durham University and in the team are key persons with an international outreach. The Development Fund's investment objective is to support the testing of the prototype, and starting production in the international markets. According to a technological audit, this is a feasible and commercially viable invention.
Co-investor: PowerDrive OÜ (owner: Mirjam-Mari Marastu). Contribution 21.37% under the same terms and conditions as the Development Fund.
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See also:
Goliath blogi
Goliath develops wind turbines with half the price
13.01.2009 The Development Fund invests in sustainable energy
10.02.2009 Estonian Company Develops an Enhanced Wind Power Generator
Goliath Wind visualisation
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