(Source: Business Wire)
On the outskirts of the automotive capital of the world, high-efficiency wind turbine generator manufacturer Danotek Motion Technologies on Friday will open a world-class manufacturing center dedicated to a type of industry not normally associated with the region: the production of electric generators for wind turbines. The 40,000 square foot Danotek facility has the capacity to produce up to 4000 generators per year, creating 150 professional and skilled jobs, as well as opportunities for local components sourcing, and other services such as forging, casting, machining, and electronics assembly.
The open house for the new facility in Canton, Michigan will be held Friday, May 29 from 4:00 PM to 7:00 PM with the ribbon cutting ceremony starting at 6:00 PM, and will be attended by representatives from federal and local government, corporate officials and key partners. The facility is in its first phase of operation with plans for expansion scheduled.
"Michigan has the chance to become a leader in wind energy," said Dan Gizaw, president and chief executive officer of Danotek. "The state's existing manufacturing and engineering infrastructure, skilled labor force and national ranking in wind generation capacity make it a perfect location for Danotek operations."
Danotek's patent-pending variable speed Permanent Magnet Generators save more than $1 million per turbine for wind farm developers and wind turbine original equipment manufacturers over the life of a turbine. Their unique design offers high performance at low wind speed. They are significantly more efficient than conventional generators (with efficiency rates topping 98 percent), and they incur lower operating costs. The Permanent Magnet Generators are half the weight of conventional generators and have improved reliability, because they contain no "wear-and-tear" parts. Danotek's generators and electronics power converters have elicited interest from large-scale wind turbine manufacturers globally and several have already contracted with Danotek to take advantage of its innovative product.
In November 2008, Danotek announced that it raised an initial $7.25 million as part of a larger $14.5 million funding agreement from CMEA Capital, StatoilHydro (NYSE: STO) unit StatoilHydro Venture and GE (NYSE: GE) unit GE Energy Financial Services. The balance of the funds are to be provided in a subsequent round. Danotek also was awarded a $1.8 million loan from Michigan 21st Century Job Fund program to be closed by early June.
"Danotek is providing a template for other Michigan companies to follow in developing innovative technologies to supply the rapidly growing renewable energy sector globally and to bring new green-collar jobs to the state," said Kevin Skillern, managing director and leader of venture capital at GE Energy Financial Services, who will be in attendance at the ribbon-cutting.
With the opening of its facility and the creation of new jobs, Danotek strengthens its contribution to a global wind industry that holds significant economic potential. According to the Global Wind Energy Council, wind power will generate up to 2.2 million jobs globally and could save as much as 1.5 billion tons of CO2 every year by 2020. In the US alone, roughly 500,000 jobs could be created by 2030 with more than 150,000 of these positions directly in the wind industry and 100,000 in associated industries. More than 200,000 of these jobs will be created by economic expansion from local spending (Source: 20 Percent Wind Energy by 2030).
About Danotek Motion Technologies
Danotek Motion Technologies, Inc. (Danotek) is a clean technology company that develops high efficiency energy conversion systems for the energy and transportation markets. The company has patents pending on several high energy efficiency products: Permanent Magnet (PM) Generators, electronics integrated pumps, variable speed fans, electric vehicle steering systems, for EV/HEV, fuel-cell, wind turbine, and combined heat and power industries. Danotek was founded in 2001 by an experienced former GE, automotive engineering and management team. Danotek is based in Canton, Mich. http://www.danotekmotion.com
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