UK venture capital firm DFJ Esprit has partnered with wind industry fund AIFCL to finance the spin-out of a radar company whose technology averts danger to aircraft from wind farm turbines.
Aveillant, which has spun out from technology start-up creator Cambridge Consultants, produces technology that the company says will remove the concerns about aviation safety and air defence that are holding back growth in the wind energy industry.
Alan Duncan, Managing Partner at DFJ Esprit, said, “The demand for renewable energy is a global one, with governments around the world setting ambitious renewable energy targets. Aveillant provides us with an opportunity to invest in an industry-leading 3D radar and a services business capable of unlocking the global potential of thousands of wind turbines, and the millions of units of renewable energy they will produce.”
DFJ and new investor Cipio Partners recently co-led a $15m Series D funding round for US technology company DisplayLink. The company develops integrated circuits and software that connect monitors to laptops and PCs using standard interfaces such as USB, WiFi and Ethernet.
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