SCRA Technology Ventures Commemorates Investment
SC Launch Portfolio Company Receives "Big Check"
Charleston, SC - SCRA Technology Ventures' SC Launch program today presented a $200,000 "big check" to Greenville-based BarberWind Turbines, commemorating the investment they received last year. The presentation was made at the Clemson University-ICAR campus during a visit from students and faculty from the University of Pennsylvania's Wharton School of Business, in which BarberWind Turbines CEO will be part of a panel discussion for the group. The school used South Carolina and SCRA as a case study in 2013 for spurring innovation and has returned to the state for additional research.
BarberWind Turbines is a groundbreaking wind technology company that designs, manufactures, constructs and maintains wind energy assets. The company's wind turbine, which will be manufactured in Upstate South Carolina, is highly efficient and among the most cost-effective wind technologies on the market. One 800 kW wind turbine offsets carbon pollution equivalent to taking 700 cars off the road. The entire turbine ships from the manufacturer in five 40 foot containers and does not require a heavy lift crane for assembly or maintenance, allowing the turbine to be used in remote, high-wind locations like the Caribbean and Central America.
The company was accepted into the program in June of 2014, receiving mentoring and support services as a client company.
"We are delighted to recognize BarberWind Turbines and their innovative technology," said SCRA CEO Bill Mahoney. "Through support and investments in our emerging technology companies, we are furthering the technology-based economy of South Carolina and garnering interest from other states and organizations. We look forward to the future contributions BarberWind will make."
About SCRA Technology Ventures
SCRA Technology Ventures enables research commercialization and promotes the development of high tech industries, enhancing South Carolina's technology-based economy. Through its flagship SC Launch program, this SCRA business sector makes investments in and offers support services to South Carolina's early stage, start-up technology companies. Multiple economic impact studies show SCRA's cumulative output on South Carolina's economy to be over $18.1 billion,helping create approximately 15,000 technology-related jobs in the state, with annual wages averaging between $55,000 and $79,000.