Foley Hoag Represents Altaeros Energies in Series A Financing
December 10, 2014
Foley Hoag LLP recently represented Altaeros Energies, Inc. in its Series A financing, which will support the continued development and commercialization of its Buoyant Airborne Turbine (BAT) technology.
Founded at the Massachusetts Institute of Technology in 2010, Altaeros leverages proven aerospace technology to lift wind turbines into high altitude winds beyond the reach of traditional wind towers. Operating up to 2,000 feet above ground, the Altaeros BAT generates over twice the energy of similarly sized tower-mounted wind turbines. The BAT is transported in standard shipping containers and does not require a tower, crane or large underground foundation for installation, eliminating many logistical challenges faced by traditional wind turbines.
Funds for the financing were invested by Tokyo-based SoftBank Corp., a leading global carrier offering a comprehensive range of advanced mobile communications, fixed-line communications and Internet services around the world.
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