Xzeres counts a big wind with Skystream purchase
By Andy Giegerich
Sustainable Business Oregon editor
Xzeres picked up the Skystream assets for an undisclosed price.
Wilsonville-based Xzeres Corp. has beefed up its holdings by purchasing an Arizona company’s product line.
Xzeres (PINKSHEETS: XPWR) bought Flagstaff, Ariz.-based Southwest Windpower Skystream line for an undisclosed price. The acquisition gives Xzeres Skystream’s designs, intellectual property portfolio, manufacturing assets and other inventory.
Xzeres makes 2.5 to 10 kilowatt wind powered, distributed energy turbines and other renewable energy products. Southwest makes and distributes small wind systems, some 8,000 of which, under the Skystream name, have been installed worldwide.
Skystream works with residential and rural markets, a sector that includes off-grid applications such as remote cell phone towers and remote micro-grid applications.
Manufacturing assets acquired by Xzeres include tooling and fixtures, production line and testing equipment. The IP portfolio includes five issued patents and five patents pending in the U.S. and internationally. Those pending patents include designs larger wind turbines.
“Southwest Windpower had been a dominant industry leader for sub-five kilowatt turbines, particularly with its iconic Skystream brand,” said Frank Greco, Xzeres’ CEO, in a release. “The acquisition of these assets and supporting IP perfectly complements our existing world-class 10kW system, as we continue to build Xzeres into a global renewable energy company.”
The Renewable Power Resources group, a Xzeres financing partner, provided funding for the transaction.
Xzeres reported $4.4 million in revenue last year. The company’s stock traded at around 80 cents a share late Wednesday afternoon.
Xzeres reported it had procured a $6.5 million credit facility earlier this year.
If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.