Wind Energy Technology At One-Third The Cost Of Conventional Horizontal-Axis Turbines
Airloom Energy Announces US$13.75 Million Financing To Accelerate Development Of Pilot In Wyoming
Airloom Energy (Airloom) has secured US$7.5 million in financing led by Lowercarbon Capital with participation from Breakthrough Energy Ventures, WYVC, Crosscut Ventures, WovenEarth Ventures, Aduuvans, and the Kutnick Family Office to support its vision of revolutionizing wind energy generation. The company also secured US$5 million in Energy Matching Funds from the State of Wyoming and a US$1.25M non-dilutive contract from the US Department of Defense.
The new funding will support the development of a pilot in Wyoming to prove out power production and system efficiency, while demonstrating that Airloom Energy can build wind for one-third the cost of conventional horizontal-axis turbines. The company will break ground on the project in the summer of 2025.
Just as Horizontal-Axis Wind Turbines (HAWTs) continue to grow in size and complexity, continued cost reductions are hindered by interest rates and supply chain issues. Airloom believes that it takes a fundamentally different approach with its simple, mass-manufacturable design that the company says enables higher energy density and a smaller visual footprint without the massive infrastructure that conventional turbines require.
More efficient, easier to deploy wind technology has been a goal for decades. According to Airloom, previous efforts didn’t succeed in displacing HAWTs because they didn’t have the right combination of high energy production, low capital costs, and system sturdiness. Airloom believes it has solved this challenge with a robust, scalable system architecture that is engineered to withstand the harsh and dynamic conditions wind turbines are exposed to. In addition, Airloom is engineered to utilize common materials, automated manufacturing, and existing transportation networks. The resulting system is not only built to wind industry engineering standards, but achieves exceptional power production at low-cost, according to Airloom.
“As global demand for renewable energy increases, Airloom’s technology offers a breakthrough in reducing the levelized cost of energy while addressing the supply chain challenges that have long hindered the wind sector,” said Neal Rickner, chief executive officer of Airloom. “With a focus on efficiency, scalability, and sustainability, Airloom is positioned to become a key player in the future of renewable energy.”
The Airloom team includes industry veterans from Google X, Boeing, GE, Vestas, Gulfstream, DNV GL, and more. Rickner previously served as chief operating officer of Makani, a wind turbine company owned by Alphabet and Shell.
As Airloom builds its first-of-a-kind pilot project, it has opened dialogue with wind developers, asset owners, and power producers to explore partnerships for its next projects. The company is building a coalition of industry players and early adopters who will get early access as Airloom begins to scale.
