20 April 2010

Ampair announces investment from Sigma

Ampair Energy Limited is pleased to announce that the Sigma Sustainable Energy Fund II has committed £1.5m to Ampair Energy Limited (“Ampair”).

Ampair is a new company based in Dorset, which recently acquired the business and assets of Boost Energy Systems Limited, a company that designs and produces wind turbines, currently ranging from 100W to 6kW. Ampair wind turbines have been manufactured in the UK since 1973 and the latest model, the Ampair 6000, is a 6kW device which has been designed for worldwide use in grid-tied applications, commercial off-grid applications and rural electrification. Customers who have bought Ampair turbines include Shell, Cable and Wireless and Scottish and Southern Energy, who have purchased two of the first batch of Ampair 6000 turbines to be produced.

Sigma Capital Group plc, the managers of Sigma Sustainable Energy Fund II, are a specialist asset management and advisory group focused on venture capital, property and the commercialisation of university IP.

The investment will be used to support further development of the Ampair range and the expansion of the company’s existing commercial activities.

Patrick Graham, a Director on Sigma’s investment team, said, “Having looked at a number of compelling opportunities in the small wind sector we were drawn to Ampair due to the fact that the overall performance of the Ampair 6000 is comparable to that of the top manufacturers in the industry but it comes at a lower price point, and hence a lower cost per kWh, making it potentially the most economic small wind turbine on the market. It was also important to us that the Ampair 6000 has been specifically designed as a platform technology that can be used to produce larger turbines at minimal additional cost, thereby further reducing the cost per kWh.”

David Sharman, CEO of Ampair, said, “We are delighted to have Sigma on board as our lead investor, they are clearly committed to the sector and were very supportive throughout the process. We look forward to working together with Sigma as we build Ampair into the world leader in small wind turbines.”

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