Danotek Motion Technologies, a Canton, MI-based company that develops and manufactures advanced generators and components to supply wind energy to the power grid, has raised $13.2m in a second funding round.
The round was co-led by existing investors GE Energy Financial Services, CMEA Capital, Energy Capital Management, as well as new investor Khosla Ventures.
The company, which also produces motors, drives, pumps and other accessories for electric and hybrid vehicles, will use the proceeds to expand research and development activities, install utility-scale Mega Watt load testing equipment, hire and train workers and launch production of permanent magnet generators with an annual capacity of about 4,000 in approximately three years.
FinSMEs
14/12/2009