Eocycle wind turbines get $25M for US expansion

Apr 18, 2024

By Farms.com

Eocycle Technologies, a leader in compact wind turbines, has secured $25 million to ramp up operations in the US and Europe. This funding will fuel a hiring spree, accelerate product development, and slash delivery times for their innovative wind turbines.

Eocycle's claim to fame is its 25 kW and 90 kW wind turbines designed for farms and businesses. These on-site generators produce clean electricity, significantly reducing energy costs compared to traditional utilities. Excess power gets fed back into the grid, maximizing efficiency and potential revenue.

"Distributed wind," as Eocycle calls it, caters to rural areas where these turbines, despite their size, generate a surprising amount of power. Richard Legault, Eocycle's CEO, highlights the financial benefits: "One turbine can save over $1 million on energy bills over its lifetime."

This investment, led by Export Development Canada, will empower Eocycle to capitalize on a potential $200 billion distributed wind market in the US and Europe. The company plans to double its workforce across sales, production, and customer service, while also boosting R&D efforts to further enhance user savings.

"Eocycle's wind turbines are a key player in the shift to clean energy," said Julie Pottier from Export Development Canada. They believe Eocycle's technology will expedite the global transition towards a low-carbon economy.

With this funding, Eocycle positions itself as a one-stop shop for distributed wind power. They offer a complete solution, from feasibility studies and permitting to construction, maintenance,

and even financing options. This comprehensive approach makes clean energy accessible to a wider range of rural businesses seeking energy independence.

The future looks bright for Eocycle, backed by both market potential and government incentives. The US Inflation Reduction Act offers significant financial encouragement for businesses to adopt on-site wind power generation. With these tailwinds, Eocycle is poised to become a major player in the clean energy revolution.

Video: AgMatters Episode 3: Why Doing The Right Thing Matters

we explore what it means to "do the right thing" in agriculture and how sustainability is shaping the industry. This episode features David McInnes, Former President & CEO of the Canadian Agri-Food Policy Institute, who shares insights into Canada's first Food Sustainability Index—a collaborative effort among over 140 partners to measure sustainability across environmental, economic, and societal dimensions. David highlights the importance of providing sustainable outcomes to stay competitive in global markets.

We also hear from Hailey Jefferies, President and Co-founder of Prairie Fava, as she discusses building a business around Manitoba-grown fava beans. Hailey shares how Prairie Fava is creating new markets for this high-protein, nitrogen-fixing crop while benefiting from Manitoba’s robust entrepreneurial network.