Nordic Windpower Announces Financing Deal

Berkeley, CA, January 5, 2010 – Nordic Windpower announced today that it has raised $38 million in a new financing round led by Khosla Ventures, a premier investor in clean technology companies. Joining Khosla Ventures in the Series C equity financing are New Enterprise Associates (NEA), one of the largest venture firms worldwide, Novus Energy Partners, a US/Europe-based investor in clean technology, and existing investor Impax Asset Management, a London-based fund. Other participants include I2BF Management, an international cleantech focused investment management group, and Pulsar Energy Capital.

“This investment represents a significant achievement for Nordic Windpower,” said Patricia Bellinger, Chairman of the Board of Nordic Windpower. “We are committed to greatly expanding access to our high quality, innovative two-bladed wind turbines to communities across America and beyond. The support of this world class group of investors led by Khosla Ventures will enable us to build and grow Nordic Windpower substantially, while contributing to global efforts to reduce dependence on fossil fuels and President Obama’s goal of energy independence.”

Click here to view the full Press Release from Nordic Windpower

About Nordic Windpower

Nordic Windpower designs, manufactures and sells innovative, two-bladed utility-scale wind turbines for community wind and utility markets worldwide. The company’s N1000 turbine has the lowest installed cost and highest reliability of any turbine in its class. Nordic Windpower’s patented, flexible teeter hub significantly extends mechanical life and lowers maintenance. With headquarters in Berkeley, CA, and a technology office in Bristol, UK, Nordic Windpower operates an assembly plant in Pocatello, Idaho. Visit www.nordicwindpower.com, or contact 322-2080 or (510) 665-9463 in Berkeley, CA.