in News Departments > Projects & Contracts
print the content item

Tower Tech Holdings Inc., a Manitowoc, Wis.-headquartered supplier of fabricated towers to the wind industry, has signed a supply agreement with Clipper Turbine Works Inc., a division of Carpinteria, Calif.-based Clipper Windpower Inc., for the production of wind towers.

In addition, Tower Tech has sold 10.26 million shares of its common stock to Tontine Capital Partners and its affiliates for $1.50 per share - totaling $15.4 million.

"We are extremely pleased to become a partner with Tower Tech," says Jeffrey Gendell, a representative of Tontine Capital Partners. "We look forward to the production increase at the company's Manitowoc site and the expansion of the company's capabilities to further assist its wind turbine customers in the pursuit of their growth plans."

According to Tower Tech, the proceeds from the stocks will be used to purchase additional equipment to expand the current manufacturing capacity, modernize the plant, reduce existing debt and provide the necessary working capital to meet customer demands.


Trachte Inc._id1770
Latest Top Stories

Yahoo Inks Contract To Buy Kansas Wind Power

The Internet company plans to log in to the Alexander wind project, which is being built by community developer OwnEnergy.


Could Initial Offshore Wind Projects Crash New England's REC Market?

Some are concerned that the first offshore wind projects could negatively impact pricing of renewable energy credits (RECs) in New England.


Catching Up With The DOE's Down-Select Offshore Winners

The three recipients of key U.S. Department of Energy (DOE) funding provide updates on their offshore wind demonstration projects.


Texas Comptroller Attacks Wind Power, And Industry Fights Back

Texas Comptroller Susan Combs recently released a report calling for an end to wind power subsidies. The Wind Coalition has responded, saying the report is riddled with misinformation.


How To Mitigate Blade Issues And Costly Downtime

Routinely inspecting your turbine's blades can help identify problems early on, ultimately cutting down unscheduled maintenance costs.

Canwea_id1984
Renewable NRG_id1934