Green Angels back new materials to transform wind turbine drives
Green Angel Syndicate announced today that its members are supporting the development of a new generator for wind turbines to replace the current use of unsustainable, environmentally damaging and expensive rare earth magnets.
Green Angel Syndicate is investing in the latest £768,000 raise for Greenspur Renewables, a young engineering company pioneering materials technology in wind turbines.
Greenspur has designed a unique direct drive generator for wind turbines that uses ferrite magnets in place of rare earth materials. The Greenspur design delivers significant savings in capital cost and operational expenditure, as well as removing from these drives the unsustainable environmental hazard of rare earth mining.
Recent Green Angel recruit, Andrew Hall, joins the Greenspur Board. Previously CFO of Siemens Gamesa, world leader in offshore wind turbines, Andrew explains: “I will be working closely with Greenspur to make sure that its technology is as attractive as possible to the main wind turbine manufacturers. I look forward to the challenge that this exciting opportunity represents.”
Andrew Hine, Greenspur CEO, said, “Green Angel Syndicate is an excellent example of how business angel investing should work. Their due diligence process was effective, knowledgeable and to the point. The introduction of Andrew Hall adds great value and is exactly what we were looking for from our investors.”
About Green Angel Syndicate:
- Green Angel Syndicate is the only specialist green angel syndicate in the UK, made up of a network of smart investors who are committed to the transition to a greener economy. We support early stage technology companies developing products and solutions specifically for a more efficient and sustainable use of global resources.
- If you want to find out more about becoming a green angel, contact Nick Lyth at [email protected]
For press information contact Nick on 07802 150053