Home Applications & Case Studies Austrian company Greenwood Power receives 5.1 million euros for US production

Austrian company Greenwood Power receives 5.1 million euros for US production

The Austrian company Greenwood Power has raised 5.1 million euros in a financing round. The money will be used to expand the production of current and voltage sensors in the USA.

Greenwood Power manufactures sensors for gas and air substations in local distribution networks. The patented products are designed to compensate for fluctuations caused by renewable energy in the power grid.

According to Greenwood Power, demand for the sensors has increased worldwide. A new production facility in the U.S. is expected to help increase global market share from the current one percent to ten percent. Exports already account for 99 percent, he said.

“Our high-precision sensors were developed specifically for retrofitting and stand out due to a cost-effective 3D printing process,” said CEO Norbert Juschicz. Greenwood Power is also researching automatic detection of grid anomalies.

The investment comes from venture capitalists eQventure and tecnet equity. According to the companies, Greenwood Power has the potential to become a global leader in a fast-growing market.

Subscribe to our Newsletter

3DPResso is a weekly newsletter that links to the most exciting global stories from the 3D printing and additive manufacturing industry.

Privacy Policy*

You can find the privacy policy for the newsletter here. You can unsubscribe from the newsletter at any time. For further questions, you can contact us here.