Vattenfall, ABB Invest in Romo Wind to Increase Turbine Output
Yellow&Blue Investment Management BV, a clean energy investor backed by Vattenfall AB, led a 4.8 million-euro ($6.2 million) investment in Romo Wind to benefit from its development of technology to boost wind-farm output.
ABB Ltd. (ABBN) unit ABB Technology Ventures, b-to-v Partners AG and Romo’s founders also contributed to the investment, Zug, Switzerland-based Romo said today in an e-mailed statement.
Romo sells services to increase farm output 2 percent to 8 percent by improving the operation of turbine rotors, according to its website. Its technology measures the speed and direction of breezes, so rotors can be best aligned with the wind. The company has signed contracts with utilities owning about 18 gigawatts of wind-power capacity, according to the statement.
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