Clean energy solutions developer Leviathan Energy Inc. has signed a $4.5 million contract for wind turbines in Luxembourg, and is on the verge of contracts in Canada and Texas.
Leviathan Energy CEO Dr. Daniel Farb founded the company in 2006, and he has personally financed the company to date.
Leviathan Energy applies physics of fluid dynamics Leviathan has created wind, hydro, and wave-powered products. The company has three products: Wind Energizer, which boosts output of large wind turbines by 20-30%; Wind Lotus, a small wind turbine that generates 2-5 kilowatt/hour for home use; and the Benkatina hydroelectric turbine, generates 2-5 kilowatt/hour. The Benkatina is named for a High Priest of the Second Temple, who found a way to bring water from the Gihon Spring to the Temple Mount.
Leviathan Energy's current deal is with Luxembourg NGO Center of Excellence for Urban Renewable Energies (CENURBE), which will buy 200 Benkatina turbines and 200 Wind Lotus turbines, which will be provided to African villages. CENURBE is working on a program to replace polluting diesel generators with renewable energy sources, and hooked with up Leviathan for this purpose.
Leviathan Energy will deliver the turbines during 2010. As far as the company is concerned, deal is a pilot project for its Benkatina and Wind Lotus turbines.
Leviathan Energy is in talks to set up pilot projects for its Wind Energizer product in Canada and Texas for the generation of 1 megawatt of electricity. The company says that the product can boost the energy output of a 13,000-one megawatt and larger turbine wind farm (producing 13 Gigawatts altogether) to 20-30 Gigawatts - two to three times Israel's total electricity output.
Leviathan Energy is in talks with a large Canadian public company, and expects to close a deal in November.
In Texas, the company is in talks with several parties, including academic institutions. The Texas deal is partly dependant on Leviathan Energy raising at least $1 million to set up the pilot and obtain the necessary licenses. The company is in talks with investors, mostly foreign investors, to raise between $500,000 and $50 million.
Leviathan Energy VP business development Joe Van Zwaren said that the CEO of one of the world's largest wind turbine manufacturers, India's Suzlon Energy Ltd. (BSE: 532667) made an acquisition offer for the company, but was turned down. Van Zwaren said, "We aren’t seeking an exit, but to become a large and active company."
He added that while Leviathan Energy is seeking investors, Farb intends to keep control. He owns 85% of the company, with the rest vested in employee options. The company has six employees.
Published by Globes [online], Israel business news - www.globes-online.com - on October 12, 2009
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