UpWind spins ahead with $29M |
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Mass High Tech
UpWind spins ahead with $29M
Silicon Valley venture capital firm Kleiner Perkins Caufield & Byers has led a $28.8 million venture round in UpWind Solutions, a Medford, Oregon-based company specializing in operations and maintenance services for the wind generation industry. The company -- founded in 2007 by former GE employee Bo Thisted-- currently manages hundreds of megawatts of wind generation on behalf of utilities.
Its projects include wind farms in Washington, Oregon, California, Montana and other states, with the company providing turbine replacement, turbine mainteance, warranty inspections and other services.
“We are enthusiastic to invest in UpWind at this exciting time in the wind services industry," said Kleiner Perkins partner Michael Linse in a release. "UpWind has established a brand in the wind services industry that stands for quality and top performance. We look forward to helping to grow UpWind’s business and scope of services further.”
In addition to Kleiner Perkins, existing investor MissionPoint Capital Partners invested in the round.
The investment marks yet another win for Oregon's technology industry, which has been in the news a lot recently with new company financings.
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