Alternative Energy Startup Altaeros Energies Closes $7.5 Million

Altaeros Energies completed $7.5 million in financing from SoftBank Group.

Altaeros is developing a patent-pending wind turbine that can deploy out of a standard shipping container anywhere in the world. The company’s turbine harnesses higher altitude winds that are up to eight times stronger than typical wind power by adapting an inflatable shroud from the aerospace sector and using a conductive tether to bring power to the ground. Altaeros offers customers in the $15 billion remote power markets the ability to lower the cost of energy by up to 65 percent compared to diesel generators, while reducing noise and environmental barriers.

In its announcement, the company said the capital will speed up the launch of Supertower, a project that uses Altaeros’ tethered balloons to bring broadband wireless to rural areas.