Phoenix Contact announces investment in Windesco
November 23, 2016 - Phoenix Contact Innovation Ventures GmbH, the venture capital company of the Phoenix Contact Group, completed an investment in Windesco Inc. Windesco provides Internet of Things (IoT) solutions for the wind industry.
Windesco, based in Boston, is a hardware/software solutions provider for wind-power assets. The company uses proprietary algorithms to optimize asset performance and extend asset life, providing a unique value proposition in the wind industry.
“Windesco is seeking to expand its activities and increase its installed base worldwide,” said Jack Nehlig, president of Phoenix Contact USA and Board Observer of Windesco. “Both Phoenix Contact and Windesco understand the many challenges of the wind industry: harsh environmental conditions, remote locations, and long lifecycles.”
This Series A financing round is a co-investment between Phoenix Contact Innovation Ventures and Rusheen-RWE Commercialisation Partners, a joint venture between Rusheen Capital Management and RWE Generation that invests in innovative growth companies in the energy and power generation sector
About Phoenix Contact Innovation Ventures
Phoenix Contact Innovation Ventures is the global corporate venture capital company of the Phoenix Contact Group, a global manufacturer and supplier of components and systems for electrical connection and industrial automation technology.
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