It appears that Cleanfield Energy, a Canadian vertical wind turbine manufacturer is running into difficulty. They have triggered an event of default, which basically means the bank is coming after them for money.
According to the news release, Cleanfield’s board voted to either wind-up or liquidate the company.
“Furthermore, because of Cleanfield’s lack of positive cash flows, its inability to secure additional working capital and weakened demand for the Company’s products, the Company is unable to properly operate.”
It’s unfortunate to see another VAWT manufacturer’s operations stop turning, after the well-known failure of Helix Wind several years ago. The energy business is cutthroat and if there’s no customers, there’s no money. Perhaps another wind turbine manufacturer will step in and buy the technology.
Here’s a look at one of Cleanfield’s installations at Durham College in Ontario, Canada: