Michigan-based start-up Danotek Motion Technologies has scored $15 million in Series B funding, the company announced yesterday.
Danotek, develops converters and permanent magnet generators (PMGs) for wind turbines. Investors include Khosla Ventures, CMEA Capital, GE Energy Financial Services, and Statoil Technology, among others. All four were also investors in the company's previous $50 million Series A funding.
The company claims the efficiency rate of its PMGs exceeds 98 percent, that they are half the weight of conventional generators, and that they contain no "wear-and-tear" parts, making them extremely durable.
"At Khosla Ventures we invest in technologies with the potential to disrupt their industries. The latest round of orders Danotek has received for its permanent magnet generators is just the beginning," Khosla founder Vinod Khosla said in a statement.
The company already has contracts with with turbine manufacturers and plans to install its first systems "up-tower" within the coming year, according to Danotek CEO Don Naab.