04.20.2010 – RENO, NEV – Windspire Energy, Inc. (formerly Mariah Power, Inc.), developer of the Windspire® vertical axis wind turbine, announced it has successfully raised additional capital. The latest round of financing was led by current investors Noventi Ventures, Greenhouse Capital Partners and Big Sky Partners. These funds will be used primarily for general corporate purposes, continuing research and development efforts and underwriting the international launch of the Windspire later this year.

This announcement follows recent major announcements from the company, including a name change from Mariah Power, a new solutions-based website (WindspireEnergy.com), and the execution of a new long-term supply agreement with a Michigan manufacturing company.

“We continue to see great potential for the Windspire,” said Giacomo Marini, Chairman of the Board of Windspire Energy and Managing Director of Noventi Ventures. “There is a tremendous market opportunity, especially internationally, for this innovative small wind product. “

“From the beginning we believed that Windspire Energy would significantly expand the small wind market,” said Pete Henig, Board Member of Windspire Energy and Managing Director of Greenhouse Capital Partners. “We are excited by the market acceptance of the Windspire and pleased to continue our commitment with this latest investment. “

“This new round of financing is a great vote of confidence from our current investors,” said Walt Borland, President and CEO of Windspire Energy. “We will now be able to accelerate the execution of our current strategy and aggressively enter the international market later this year. “

The Windspire is a vertical axis wind turbine designed for use in urban, suburban and rural areas. The unique design of the rotor enables the turbine to generate energy silently while standing just thirty-feet tall. The thin profile of the Windspire allows customers to easily scale-up the number of turbines to meet higher energy needs.

Hundreds of Windspires are currently powering homes, businesses, schools, and museums across the United States. Recently the company announced the installation of twenty Windspires at the headquarters of leading software company Adobe Systems in San Jose, California.

About Windspire Energy
Windspire Energy, Inc. (formerly Mariah Power, Inc.) is the developer of the innovative Windspire wind turbines. Made in the USA, Windspires are designed for use in urban, suburban, and rural settings. The propeller-free, vertical-axis design enables silent operation and features patented technology that maximizes energy conversion from wind into electric power, regardless of changing wind speed and direction. The Windspire has been featured in The New York Times, Fortune, Popular Science, and on “20/20”, CNN and NPR. For more information, visit WindspireEnergy.com

About Noventi Ventures
Noventi Ventures is a Silicon Valley-based, early stage venture capital firm focused on building successful companies through partnerships with entrepreneurs. Noventi leverages the operating experience of its principals, a global network of resources, and a proven record in venture investing to focus on opportunities at the convergence of technology, energy, and the environment. Noventi past investments include Bitfone (acquired by HP), EasyMarket (acquired by TUI), Sygate (acquired by Symantec) and M7 (acquired by BEA). For more information visit noventivc.com

About Greenhouse Capital Partners
Greenhouse Capital Partners is a Sausalito, Calif.-based early stage venture capital firm focused on funding exceptional startups at the earliest stages of company formation. The fund maintains a broad investment approach across a range of select emerging technologies, with a specific interest in cleantech and alternative energy innovations. The firm’s approach is a return to the roots of venture capital, where it will take early stage risk right alongside entrepreneurs and help build companies that will last for years to come. Greenhouse investments include Windspire Energy (formerly Mariah Power), Solaicx, Lifefactory and Linkage Biosciences. For more information visit greenhousecapital.net

About Big Sky Partners
Big Sky Partners is a Los Angeles, Calif.-based early stage venture capital firm that invests across a range of high tech startups and select emerging growth companies. The firm, led by Managing Director Michael Schwab, specializes in seed and Series A technology financing, applying a multi-sector investment strategy with a particular focus on the cleantech and alternative energy sectors. The firm has extensive expertise in, and can offer entrepreneurs significant strategic contacts across the clean energy, photovoltaic, next-generation Internet and global financial services industries. Michael B. Schwab currently sits on the Board of Directors of Solaicx and MongoNet, and the firm’s practice is expanding into investments at the earliest stages of biofuels, green transportation, social networking analytics and the penetration of solar integration, installation and distribution into the consumer and enterprise markets. For more information visit bigskyvc.com

Two residents in this neighborhood have recently installed twin Windspire generators on their property to take advantage of this abundant alternative energy source.

Who: The Sousa family

What: Twin Windspire wind turbines

Where: 1 acre residences in Spanish Springs, Nevada

Why: Sousa was convinced to get his Windspire wind turbines after seeing his next-door neighbor’s spinning in the breeze. Sousa and his neighbors are each expecting to save more than 50% off their energy bills with clean and renewable energy.

Tax Credit: Applied for 30% federal tax credit for small wind appliances

Local Rebates: $3000 rebate for each Windspire from the NV Energy WindGeneration Program

Testimonial: “I used to hate the wind when I lived in California,” said Lou Sousa, proud new owner of two Windspire wind turbines. “Now I wake up every day and think- I hope it’s windy today!”

Who: The Howell Family

What: Two Windspires

Where: Pleasant Valley, Nevada

When: September 2009

Why: The Howells decided to take advantage of the robust wind resource in their neighborhood by installing twin Windspires. They believe in tapping into renewable energy resources to help future generations including their grandchildren. Their neighbors have also installed the vertical wind turbines, making six total Windspires in this gusty Washoe Valley neighborhood.

Video:

To date, we have no reported bird incidents with the Windspire wind turbine, and actually have one story of a bird who built a nest below the generator housing.  We believe the slow speed in which the Windspire turbine’s blades spin in comparison to the wind speed, also known as Tip Speed Ratio, allows birds to see the blades so they can fly clear of them.  We don’t have a specific bird safety study to cite, but we think this picture says a whole lot (maybe even 1000 words) on the subject.

A car wash in Oklahoma that recently installed a Windspire wind turbine

Last week the US Treasury and Energy departments made a major announcement regarding incentives for businesses that install renewable energy, including Windspire wind turbines.  $3Billion dollars will now be made immediately available to reimburse businesses, which is a change from the former tax credit model.  Treasury will pay reimbursements within 60 days of receiving an application if the project is complete. If the project is not complete, Treasury will pay within 60 days of completion.  This will make installing Windspire wind turbines even more affordable.

The Windspire is included in the program based on this definition:

Qualified small wind energy property: Qualified small wind energy property is property that uses a qualifying small wind turbine to generate electricity. A qualifying small wind turbine is a wind turbine that has a nameplate capacity of not more than 100 kilowatts.

Here are some excerpts from the press release posted on the Department of Energy EERE News website.  According to Treasury Secretary Tim Geithner the direct payments are available for both large and small companies. The major change in the program is that businesses will forgo tax credits in favor of immediate reimbursement.

As part of an innovative partnership aimed at increasing economic development in urban and rural areas while setting our nation on the path to energy independence, the U.S. Department of the Treasury and the U.S. Department of Energy today announced an estimated $3 billion for the development of renewable energy projects around the country and made available the guidance businesses will need to submit a successful application. Funded through the American Recovery and Reinvestment Act, the program will provide direct payments in lieu of tax credits in support of an estimated 5,000 biomass, solar, wind, and other types of renewable energy production facilities.

The Recovery Act authorized Treasury to make direct payments to companies that create and place in service renewable energy facilities beginning January 1, 2009. Previously, these companies could file for a tax credit to cover a portion of the renewable energy project’s cost; under the new program, applicants would agree to forgo tax credits down the line in favor of an immediate reimbursement of a portion of the property expense. This direct payment program allows for an immediate stimulus in local economies.

They are not yet accepting applications, but there is a website available with more information http://www.treas.gov/recovery/1603.shtml.

Here are links to a guidance document and a sample application:

Guidance document

Sample application