Marquiss Wind Power Raises $1.3 Million in Series A Funding Round
Posted on: Thursday, 24 January 2008, 12:02 CST
Marquiss Wind Power Inc., an innovator in developing and deploying wind turbine technology, today announced it has closed its first financing round with $1.3 million.
The company manufactures roof-top wind turbines to help businesses generate affordable clean power and help the environment. The company's patented technology enables businesses to reduce their reliance on fossil fuels and showcase their concern for the environment with a roof-top mounted wind turbine.
"Marquiss is well-positioned to offer a unique product at a time when the public and private sectors are focused on developing clean energy alternatives," said Jack Crawford Jr., General Partner with Velocity Venture Capital, which led the Series A round. "With an experienced management team led by Paul Misso, this Sacramento-area company is leading the way in a multibillion market that is shifting from just centralized wind power generation -- big wind farms -- to distributed wind power generation solutions. The timing is ideal."
In addition to Velocity, Strategis Early Ventures also participated in the round.
Tests of the turbines demonstrate excellent power production compared to other alternative energy sources, providing a quicker payback that can range from two years to seven years, depending on the purchaser's existing utility rates. The wind power ties into utility grids and interacts seamlessly with customer's existing power supply.
"We are very pleased with the reception we have received from the investor community and businesses that want to embrace clean energy," said Paul Misso, CEO of Marquiss Wind Power. "Our technology delivers real savings and allows businesses to meet their power needs while using less fossil fuel."
About Marquiss Wind Power
Based in Folsom, Calif., Marquiss Wind Power manufactures cost effective alternatives to traditional energy sources by using its patented wind turbine technology. Drawing on more than 20 years of design research by founder Stanley Marquiss, the roof-top turbines enable larger businesses, including groceries, hospitals, warehouses and data centers, to reduce their reliance on fossil fuels and significantly lower their electricity costs. More information is available at www.marquisswindpower.com.
Source: Business Wire
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