Connecticut-based United Technologies had previously owned 49.9% of the stock in Clipper Windpower and apparently has purchased all remaining shares. “Its acquisition by UTC creates the long-term financial stability necessary for Clipper’s continued growth, while enabling Clipper to fully leverage UTC’s management capabilities, operational expertise, and world-class technology in blades, turbines, and gearbox design,” read a statement by UTC.
Clipper Windpower has headquarters in Carpinteria, California and manufacturing facilities in Cedar Rapids, Iowa. It produces the 2.5-megawatt Liberty wind turbine. Since June 2006, it has had orders to provide 2,240 units of the Liberty machine. The company also has a presence in the UK, where it is developing a much larger wind turbine for offshore wind farms, the Britannia, which is to have a nameplate capacity of 7.5MW and eventually 10 MW.
United Technologies Corp.
Filed Under: Financing, News