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

Renewables Make Up Over 50% Of New U.S. Power In First Half Of 2014

According to a recent government report, renewable energy sources, such as wind and solar, continue to dominate new electric generating capacity.


Suzlon Facility Lends Key Assist In Developing 'The Wind Technicians Of Tomorrow'

The turbine manufacturer’s Elgin, Ill.-based training facility is the culmination of a program that puts a new twist on a proven method of instruction.


Having Their Say: CanWEA Clarifies True Source Of Canadian Wind Success

The Canadian Wind Energy Association (CanWEA) takes issue with a recent report summary regarding various renewable energy policies in North America.


FWS Issues Landmark Eagle Take Permit: What Does It Mean For Wind Projects?

The U.S. Fish and Wildlife Service's (FWS) recent decision has far-ranging implications for operating wind farms, as well as for those under development.


'Significant' Opportunity Exists Within Wind Energy's O&M Services Market

An increasing number of wind turbines are nearing the end of their warranty period, creating significant revenue-generating opportunities within the wind turbine operations and maintenance (O&M) sector.

Renewable NRG_id1934