COLUMBIA, S.C.--(BUSINESS WIRE)--SCRA Technology Ventures’ SC Launch program today announced its $200,000 investment in Greenville-based BarberWind Turbines . The company was accepted into the program in June, receiving mentoring and support services as a client company. This investment now makes the company an SC Launch Portfolio Company.
BarberWind Turbines is a groundbreaking wind technology company that designs, manufactures, constructs and maintains wind energy assets. The company’s wind turbine, which will be manufactured in Upstate South Carolina, is highly efficient and among the most cost-effective wind technologies on the market. One 800 kW wind turbine offsets carbon pollution equivalent to taking 700 cars off the road. The entire turbine ships from the manufacturer in five 40 foot containers and does not require a heavy lift crane for assembly or maintenance, allowing the turbine to be used in remote, high-wind locations like the Caribbean and Central America.
“We congratulate BarberWind Turbines on this investment funding,” said SCRA CEO Bill Mahoney. “SCRA’s SC Launch program continues to invest in technology-based companies that are helping to further South Carolina’s Knowledge Economy, and we look forward to a successful partnership with the BarberWind team.”
About SCRA and SCRA Technology Ventures
SCRA Technology Ventures helps innovative companies grow and develop new technologies, creating jobs and advancing the Knowledge Economy throughout South Carolina. This SCRA business sector provides support and mentoring to early stage, start-up technology companies through its flagship SC Launch program. Since 2006, SCRA has deployed over $83 million in funding for entrepreneurs and infrastructure to support over 300 high-tech, early-stage enterprises. SCRA has directly invested over $19 million into the program’s top 71 South Carolina start-ups, attracting over $301 million in add-on private investment. The sector also supports commercialization and growth by facilitating the transfer of intellectual property and accelerating the transition of inventions to the marketplace. Additionally, SCRA Technology Ventures invests in more established technology companies through its Stage 2 affiliate.
Multiple economic impact studies show SCRA's cumulative output on South Carolina's economy to be over $16.6 billion, and that the company has helped create approximately 15,000 technology-related jobs in the state, with annual wages averaging between $55,000 and $77,000.