Northern Power Systems, Inc.

Northern Power Systems, Inc. designs and manufactures advanced wind energy solutions, focusing on high-performance wind turbines to enhance energy efficiency and sustainability for various industries. Northern Power Systems, Inc. specializes in wind energy solutions, providing reliable wind turbine products.

Founded in 1974 in Barre, US, the company has undergone strategic pivots to focus on sustainability in energy. CEO Reinout Oussoren leads a team recognized for their extensive industry experience. The company has received significant investment, with a Series A funding round in 2009 raising USD 37. 00 mn, co-led by Allen & Company and RockPort Capital Partners.

Northern Power Systems has completed a total of 3 deals, with the latest funding round marking the total amount raised. Northern Power Systems specializes in high-performance wind energy solutions, providing a range of tailored products designed to enhance energy efficiency while reducing operational costs for diverse industries. The company’s core product offerings include advanced wind turbines engineered for maximum reliability and performance in various environments, including commercial, agricultural, and remote off-grid applications. With over 40 years of industry expertise, Northern Power has developed turnkey solutions that encompass planning support, installation, and ongoing maintenance services.

Their geographical market spans multiple regions, including North America, with notable projects in Alaska, Kentucky, and participation in events such as the World Dairy Expo, where they showcase the advantages of wind energy to agricultural businesses. The company serves a client base that includes global businesses and local enterprises seeking sustainable energy solutions. Northern Power Systems operates through a business model that emphasizes direct sales and partnerships with clients across various sectors, including agriculture and commercial industries. The company generates revenue primarily through the sale of its wind turbines, as well as comprehensive service packages that include installation, operation, and maintenance support.

Pricing structures for their products and services are aligned with current market demands, reflecting the advanced technology and reliability of their flagship wind turbines, such as the Arctic turbine designed for extreme cold climates. Revenue transactions typically occur through direct contracts with businesses, facilitating long-term partnerships focused on sustainability and energy cost reduction. These arrangements are structured to provide clients with both initial sales and ongoing operational support, ensuring optimal performance and efficiency of their wind energy systems. Northern Power Systems aims to advance its product offerings by launching new wind turbine models designed for enhanced performance in various climates.

The company plans to expand its market reach into international regions, specifically targeting Europe and Asia, by 2025. The funding raised in the recent Series A round will support these growth initiatives, allowing for further development and marketing of their technologies, especially considering the strategic investment by Cobepa, which contributed USD 15 mn in November 2009.