Thanks for pledging! - Share this with your friends
Thank you for your pledge! We'll be in touch once the campaign meets its goal, and again when it closes, so you know we'll be charging your card.
Powerhouse Wind Limited
By Tim Mepham
I want to embed this investment somewhere
119 people pledged
Pledges will only be confirmed if the target is reached by: 25/06/2015 at 11:00 PMMake a Pledge
Powerhouse Wind Limited
Powerhouse Wind have spent the last 5 years completing research and development. We have designed and built a 2kW wind turbine for use in on or off grid applications, called the Thinair 102.
We are now production ready with off tool component parts, utilising local suppliers and developed assembly processes.
Our turbine is already out there being tested in a number of different locations in the South Island from the French Pass to Clinton. We are gathering valuable information from these sites that we are using to make the Thinair wind turbine the most cost efficient, energy efficient and reliable small wind turbine yet designed. Our market is the world.
Research and development is a costly exercise. We have spent close to a $1m so far excluding endless hours of enthusiastic but voluntary labour.
For the Thinair 102 to take on the world we need to complete the testing and improvements so we can gain international certification. We also have plans to add another model, a 5kW version.
We also need to start marketing the turbine, initially in New Zealand and then once internationally certified overseas.
At the moment we have no paid staff. We need to create a staff infrastructure that can market our product, make mechanical, electrical and software improvements, provide technical support in the field and in the workshop and pursue commercial opportunities in New Zealand and overseas.
We already have traction and opportunities with aid organisations, lines companies, off grid lifestylers and on grid enthusiasts.
We are offering a minimum of 69,325 ordinary shares (to close the offer) and up to a maximum of 155,979 shares at $5.77 each. This represents between 14.3 and 27.3% of Powerhouse Wind Limited, with between $400,000 and $900,000 raised.
Each ordinary share gives the holder the right to one vote at a meeting of shareholders.
The constitution (linked in the details tab) sets out other terms that will apply to any shareholding in Powerhouse Wind Limited. You should read the constitution before pledging for shares.
About our Team
The team at Powerhouse Wind is committed to achieving their vision to build the best domestic
scale wind turbine in the world and are passionate in their belief in the potential that wind generation offers for renewable energy.
Based in Dunedin, New Zealand and combining a wealth of product design, engineering and manufacturing experience with an innovative design philosophy are the following people:
Richard Butler. A graduate of Auckland University, Richard brings a passion for combining electronics with innovative mechanical engineering – particularly in the renewable energy field. Richard trained as an electronics engineer and joined Fisher & Paykel where he held numerous roles including Electronics Manager, Technical Functions Manager and Engineering Manager. Richard was also part of the DishDrawer team and is currently the Site Manager of the Fisher and Paykel Whiteware product Development Division in Dunedin
Bill Currie. Bill has a strong personal interest in a great wind turbine solution, he lives in an off-grid house and has a long standing interest and belief in local energy solutions. After mechanical engineering training, Bill worked for New Zealand Electricity for 4 years. Following some time working overseas, Bill did an MBA at Otago University, including a project for Fisher & Paykel Appliances which evolved into 18 years of employment with the company. He worked on a number of roles starting with design engineering on the DishDrawer team, and concluding with responsibility for Engineering Services for all sites.
Tim Mepham. A graduate of Otago University with a B.Com and a Chartered Accountant with broad experience in export markets, manufacturing, HR management, Information systems, corporate strategy, change management and governance. With experience in construction (Downer), whiteware manufacturing (Fisher and Paykel), forestry re-manufacturing (SCFP), film and media (Natural History NZ Ltd). Tim operates in an advisory role to PHW and has been involved for the last 3-4 years.
Other Directors are Peter Shaw and Wayne O'Hara. Both Wayne and Peter were involved in the early development days and Peter has continued to be involved with software improvements.
What we've done so far
The Thinair wind turbine has been develped over the last five years with significant progress being achieved with the assistance of Callaghan Innovation, the Otago Polytechnic and seed funding from early investors. The engineering and design team have proved the concept with initial prototyping and testing. This was followed by second generation design, tooling, electronics design and testing.
Sales of 12 protype turbines have helped the funding and kept the continuous improvement process going. Valuable information is coming back from these field turbines.
We have completed phases one and two of our development, and with the funding gained through this campaign initiate phase three below.
Specifically, investment is needed to hire key technical staff to continue the improvements to the turbine and to commercialise the turbine with the support of a sales and marketing team. A marketing campaign needs to be initiated targeting off grid and on grid lifestylers and rural properties.
International certification is needed to export the turbine and to participate in aid projects. International interest needs to be followed up paticularly in Australia and the Pacific.
Model variations need to be developed for high alpine exposure and increased kilowatt output.
Our goal is to establish a design and manufacturing facility in New Zealand. We'll start small but within five years aim to be manufacturing up to 300 units/year for New Zealand and export markets.
The renewable energy market is evolving and Powerhouse Wind is aiming to compliment off grid solar systems with a cost effective product that will generate power when the sun is not shining.
Dividends and capital growth are the financial targets. The company would also consider opportunities to sell and license the technology to a large player in the renewable energy sector.
Risks and Challenges
The biggest risk that we face is being undercapitalised. We need capital to move into the growth phase, support sales and create a commercial infrastructure to take advantage of this exciting technology in the equally exciting and neccesary renewable energy sector.
Key support staff are important. Currently Bill Currie is the only full time engineer involved in the company, and we need to employ and retain more people. Our full risks (and mitigating factors) are outlined below:
We have tested this technology since 2008, and are confident in what we have created. If there are any issues we will keep communication open with customers, implementing changes as we can. We will work through technical issues systematically. We will look to employ additional technical know-how and a field engineer to speed the 'fix' process.
We have a managed process of continuous improvement and issue resolution. With the capital raised we are looking to hire more technical resource.
Insufficient working capital
We are running this equity crowdfunding campaign to mitigate this risk. We will look to fund future growth through revenue.
Not achieving forecasted sales volumes
With the money raised in our equity round, we will start marketing activity and pursue commercial applications with telcos, utility companies as well as off grid rural lifestylers. Expenditure can be controlled to a minimum if sales take longer to achieve. Currently we have very low financial overheads.
Loss of key staff
There is shared knowledge amongst the team of each others roles. Specialist support would need to be hired for technical and accounting support if Tim or Richard left the business. This risk will be mitigated with funding to pay key staff and by growing the team.
Another developer of small scale wind turbine in New Zealand
It has taken us 5 years to get this far, so there is a technical barrier to entry. We have a New Zealand patent protecting the key aspects of our turbine design
Imported Wind turbines gain traction in New Zealand
Imported turbines are more expensive than our turbine. We need to focus on a New Zealand Inc approach with all commercial customers and lifestylers, and continue to improve, develop, and commercialise our product.
Solar panels become the renewable energy of choice
Solar panels continue to decrease in price and increase in efficiency. We see wind turbines as a complimentary product where wind is a resource and when there is a smaller footprint. Wind generates power at night and in the dark days of winter, when solar is less efficient. We will work to partner with solar suppliers and sell a renewable package.
Note from PledgeMe
We have completed a Veda check on the company and their directors, as well as a google check. There were no adverse findings.
You need to pledge to see this update.
+$300,000 invested into Powerhouse Wind
01:57PM Sat 20/06/15 on Powerhouse Wind Limited
We cracked another milestone today - $300,000 invested!
We hit a pretty significant milestone today and are now over 75% funded.
As equity crowdfunding is an 'all-or-nothing' form of capital raising, we must achieve our minimum target of $400,000 to close this investment round. So although it's a nice feeling to be inside of six figures to go, we still have a gap to close over the next few days!
Thank you all to our investors. It's been incredible to see the support for our company and for this offer.
As always to those campaign followers: our team is here to chat if you have any questions.
- Email: [email protected];
- Call: Tim (021 999 828) / Bill (021 280 6725), or;
- Ask us a question on our campaign page.
Also, if you missed our update yesterday, take a look at our Dunedin News feature from Thursday night. It was great being able to showcase our proud Otago business discuss this equity crowdfunding campaign.
Cheers again from the Powerhouse Wind Team!
Comment on this update:
You need to pledge to see this update.
Eight days left to join the Powerhouse Wind Team!
08:28PM Wed 17/06/15 on Powerhouse Wind Limited
It's pretty incredible. We're now over five weeks into our equity crowdfunding campaign trail and have more than $270,000 of pledged investment towards Powerhouse Wind's $400,000 target.
(Step 1 Prototype)
So in the next 8 days we have a little less than $130,000 of investment to achieve this goal
We’ve noticed other equity crowdfunding campaigns tend to spike in investment once they’ve hit target and right before closing off.
We appreciate your help in sharing our investment offer with anyone in your crowd might be interested in our company and in this opportunity.
Where we're at:
We’ve spent five years working through supply stages one and two. We’re now ready to move towards the third stage of the Powerhouse Wind journey.
With money raised, we are going to grow our team to:
Commercialise production capabilities - allowing us to grow faster and reduce our costs per unit
Establish sales & domestic distribution - create a national distribution network
Foster current client relationships - work with our current partners to grow the opportunities we already have in place
Build partnerships - develop a network of ancillary service people and services regionally around NZ and internationally to aid in the uptake, use, and general maintenance of our Thinair 102 units, along with any other technology Powerhouse Wind develops in the future
In this final countdown we need your help:
For those who have followed our campaign and are considering joining our team as an investor - feel free to connect and chat. You can call us: Bill (021 280 6725) or Tim (021 999 828) or send us an email [email protected]
For those who have invested already - consider passing on our campaign page to people in your network who may not have heard about us yet but who may find interest in value in our business and this investment.
Thanks from the Powerhouse Wind Team!
Comment on this update:
Week Five: Solomon Islands enquire
10:30AM Tue 16/06/15 on Powerhouse Wind Limited
Help us reach our equity target
And with aid agency Caritas Aotearoa we can commit to trialling two wind turbines in the Solomon Islands at a site located within the Bishop Koete Rural Training Centre, which trains 150 young people in trades and skills such as agriculture, building, carpentry and mechanics.
· The training centre is a residential facility, which means that the 150 students and 12 staff all live on-site. The training centre is off-grid, and most of its 24 buildings have no electricity.
· The only power sources at present are a 6.5 KV/A diesel generator, which is switched on for just 3 hours each evening. As with many Pacific Island nations, fuel costs are high, and in the provinces can reach twice or even three times the prices we pay here in NZ.
· The centre currently uses around 100 litres of diesel each month, which makes a significant dent in their limited financial resources.
Powerhouse’s ThinAir has the potential to dramatically improve access to a basic necessity - affordable power in this context. This centre is only one of a network of 47 dotted around the country. If a turbine can be proved to be viable in this environment – the impact on power generation in training centres, schools, and small communities around the country will be immense.
To everyone who has made a Pledge to date, Thanks. We are getting close to the minimum. As of today we have received pledges totalling $258k from 54 pledges
We are now $144k away from going live with our plans that include:
· Employing some engineering and electronics resource to support field testing and also to focus on continuous improvement so we can move into commercial production with a bullet proof machine.
· Work on the Caritas opportunity in the Solomon Islands
· Establish a distribution network in New Zealand to market, install and support our New Zealand customers
· Develop international partnerships.
Who took the ‘ad’ away from ‘venture capital’?
Comment on this update:
Whoa, we're half way there!
04:55PM Wed 10/06/15 on Powerhouse Wind Limited
We hit a milestone today:
We now have had over $200,000 of pledged investment into Powerhouse Wind's equity crowdfunding campaign.
This is no small feat and we look forward to hopefully welcoming these 48 investors into our Powerhouse Wind family.
With that being said, we've still got another ~50% to raise in the coming two weeks.
We've been watching equity crowdfunding campaigns closely for the past few months and have noticed that investment spikes twice towards the end of campaigns. First, once a target is hit, and second, as the campaign closes off.
To bridge that gap from now-to-then we need your help:
- For those who have followed our campaign and are considering joining our team as an investor - feel free to connect and chat. You can call us: Bill (021 280 6725) or Tim (021 999 828) or send us an email [email protected]
- For those who have invested already - consider passing on our campaign page to people in your network who may not have heard about us yet but who may find interest in value in our business and this investment.
Thanks once more from the Powerhouse Wind Team!
Comment on this update:
Week Four: $200k Crowdfunded + a turbine for Christchurch
09:48AM Wed 10/06/15 on Powerhouse Wind Limited
The crowd keeps coming to the party while we continue to grow the business. This week we've secured Christchurch's first Thinair wind turbine when Orton Bradley Park ordered their first unit as we close in on the final fortnight of our campaign.
Based on Banks peninsula, Orton Bradley Park is a park available for the enjoyment of all people. It has picnic and barbecue areas, heritage buildings, agricultural relics and extensive walking tracks through protected and regenerating native bush.
The park has a long tradition of using renewable energy and recognises the benefits of using wind energy to complement solar and hydro generation.
We have been talking with Orton Bradley Park for several months and they have undertaken a thorough ‘due diligence’ comparing our turbine with the imported Kingspan. It was great hosting Sam in Dunedin a couple of weeks ago and having the opportunity to show him our machines on the hills of Dunedin.
As well as generating electricity, they plan to use the turbine to help educate the many school groups that use the park the value in using renewable energy. There is more information on their project here.
PledgeMe campaign update
With 16 days to run we have received $201,000 of investment from 48 people. We still have work to reach our $400,000 minimum target which will allow us to move from a development company to a company with the support infrastructure to supply and distribute the Thinair in NZ and around the world.
For those that have pledged, thanks heaps. If you are still considering and have any questions or would like to chat - we would love to talk shop! You can call either Bill (027 280 6725) or Tim (021 999 828) or reply to this email and we'll tee up a time to connect.
If you have anyone in your network who may be interested in what we're doing please share. You can forward this email to them, show them our campaign page or get them in touch with us directly (details above).
Cheers from the Team at Powerhouse Wind!
Comment on this update:
Week Three: What a great week for testing wind turbines!
10:59AM Fri 29/05/15 on Powerhouse Wind Limited
What a great week for testing wind turbines! We set a record with our machine on Saddle Hill, Dunedin. This machine generated 15kWh over a 20 hour period. Over the same period of time we had two machines stop completely, with what seems like a faulty transistor on the control board. This is a good example of where we are at the moment and why we are raising investment. We need a ‘bullet proof’ turbine and the only way we are going to get there is putting the turbine out there, pushing the limits, and allowing the wind to have a go! With every known fault fixed we are getting closer to our goal.
Talking about goals, we have received just under $150k of pledges from 34 amazing people. The campaign has 27 days left to run, so if you have decided to come on board but haven’t pledged then now would be good. Thank you to those that have come on board already.
Our event in Wellington last week went really well. We have two Directors based in the capital, Wayne and Peter, who hosted this event held in the Biz Dojo with PledgeMe. The turn out was great with around 30 attendees, and we had some good questions.
So why invest in Powerhouse Wind?
Renewable energy systems are developing based around solar panels. Electricity will be generated, stored, and used close to where it is generated. In developing countries without an established grid infrastructure, distributed generation (localised energy generation) will be the energy equivalent to the evolution of the cell phone network.
Solar panels are good but they don’t generate power at night, they are limited in the middle of winter and during heavy rain events. Small scale wind turbines compliment solar systems where there is a good wind resource.
Powerhouse Wind is a development company that is already involved in this exciting and evolving sector and profits are forecast in FY2017 if our targeted market volumes are achieved.
Comment on this update:
Another week on the equity campaign trail
03:38PM Wed 20/05/15 on Powerhouse Wind Limited
We are nearly two weeks into the crowd funding campaign with almost $110k pledged so far. The campaign finish date is the 25th June so still plenty of time to go.
We now have 26 pledgers and 17 followers with plenty of good questions posted. A question recently asked was in regard to the operating wind speeds.
One of the features of the Thinair turbine and the single blade is that it can be programmed to operate within a wind band. The turbines we have made to date have been programmed to operate in wind speeds that are between 3.5 metres per second (mps) and 20 mps.
If the wind exceeds 20mps, which is potentially damaging, the turbine will stop spinning and the blade will fold back with the wind acting like a wind sock. The teetering hub and the single blade allows this to happen and is a significant protection feature built in to the turbine. When the wind drops within the operating band again the controller will record the wind speed for a full minute before re-engaging the blade.
We are currently talking with the Caritas aid agency, who is involved in development projects in the Solomon Islands. They are keenly watching the updates and our equity campaign and sent us this message below. Success in raising the equity we need will mean that we can install a turbine as an alternative power source for their training centre at BP Koete VRTC. Initially this would be a test site with further opportunities at other centres in the Solomons and the other aid projects that Caritas are involved in.
Hope the equity raising is going well, and good to see the progress made already in your latest update.
Just sending you the message we received below – not to put pressure on you – but to show how badly needed innovations like ThinAir are all across the Pacific – and how eagerly anticipated!
Best wishes, Caritas Aotearoa New Zealand
We are looking forward to holding our Wellington function this Friday at the Biz Dojo, this is a good opportunity for us to meet anyone interested in becoming an investor in Powerhouse Wind.
We will be there from 5.30pm - it would be great to see you there if you live in Wellington!
Where: 115 Tory Street, the Biz Dojo, Wellington
When: 5:30-7pm, Friday 22 May
Who: any Powerhouse Wind supporters and potential pledgers
Comment on this update:
03:26PM Wed 13/05/15 on Powerhouse Wind Limited
Well it's almost been a week since we kicked off this PledgeMe campaign, and already we have $80k pledged and from what I am told we are trending very well to achieve the minimum target. We're definitely hoping we’ll get to our $600k stretch goal, and would be over the moon to reach the maximum of $900k. So far, we have had articles in the NBR, Otago Daily Times, and on the National Radio around our launch.
For those of you who have pledged already a big thanks for your commitment and vote of confidence. We'd love to share your stories of why you pledged, so get in touch if you're up for a chat.
The vision that we have at Powerhouse Wind is that in the near future electricity will be generated locally from renewable energy: from solar panels but also from the abundant wind resource that is out there.
So it came as no surprise that last week Tesla announced a revolutionary battery pack that will help to make the ‘distributed generation’ or localized energy systems a reality. Have a look at this:
So what are we doing this week?
Well we are preparing to build a couple of turbines for installations planned in mid-June for two Dunedin sites.
Bill is visiting Marlborough where we have a couple of turbines being tested by the Marlborough Lines Company, one of these test sites is particularly extreme and is a valuable source for identifying improvements that we can make to the turbine.
Next week we are running an event in Wellington for potential (and current) investors. If you’re Wellington based, and keen to meet the team, come along to the Biz Dojo (115 Tory Street) at 5:30pm on Friday 22 May. RSVP here
We've done a lot of work to get this far and with your help we want to become a serious player in the renewable energy sector. Remember the advent of the PC and laptops and what they did to the computer industry? How about cell phones and what that did to communications?
It’s time for the renewable energy revolution.
Comment on this update:
|Maximum Shares Offered||155,979|
Explanation of valuation:
The original share issue and investment was based on 1165 shares at $1000 this recognized the initial input of the founders and also raised $439,100 from new shareholders.
Our current valuation is based on this initial valuation but now recognising that the project development has essentially been completed and a lot of risk taken out of the concept. We now have a proven product, that can be manufactured for export markets or internationally under licence or a technology that can be sold.
On the 30th March at our AGM the Directors approved a share split that reduced the share valuation to $5.77 per share.
|Prev Year||Current Year||Est. FY 2020||Est. FY 2021|
Company Name: Powerhouse Wind Ltd (registered as POWERHOUSE WIND LIMITED)
Company Number: 1907272
Companies Office URL: http://www.business.govt.nz/companies/app/ui/pages/companies/1907272
Incorporation Date: 14 Feb 2007
Company Status: Registered
Entity Type: Registered
Constitution Filed: No
Annual Return Filing Month: March, last filed 12 Mar 2015
Level 13 Otago House
481 Moray Place
|Address for Service||
Level 13 Otago House
481 Moray Place
|Richard Butler||Electronics Engineer||http://www.business.govt.nz/companies/app/ui/pages/companies/1907272//||✔|
|Bill Currie||Founder and CEO||https://nz.linkedin.com/pub/bill-currie/9/21/3a4||✔|
|Peter Shaw||Software Engineer||http://www.business.govt.nz/companies/app/ui/pages/companies/1907272||✔|
Ask a Question (You must login to ask a question)
Your target market is clearly rural homesteads. What are the consenting requirements in more urban environments. While I dont expect people to errect them in residential areas (like David Cameron did: http://www.dailymail.co.uk/news/article-443686/Up-roof--Camerons-wind-turbine-arrives.html), is there possible applications in industrial areas were noise and tall poles aren't such an issue (ie. how easy would it be to get consent for Hubbarbs to supplement their solar with some wind generation: https://www.sunnyportal.com/Templates/PublicPageOverview.aspx?plant=731068a5-f622-4168-b5ae-b0845be107f6&splang=en-US)?Posted on 08-05-2015 by First Heritage Ltd
Hi thanks for your question.
There doesn't seem to be a coordinated consenting approach throughout the country. We have only had to deal with the Dunedin City Council for resource and building consents for our rural lifestyle installations. The DCC in their new energy plan are making the installation of a wind turbine a permitted activity on a rural residential section although their are large areas of landscape reserves and coastal reserves that would still require a resource consent. the current situation while we wait for the new energy plan is that a resource consent is required this costs $500. We have been preparing and submitting these applications for our customers. The building consent is required to establish the concrete foundation pad and tower (costs $600). Once again we have prepared and submitted these applications, we have established a template to follow for both consents and are in discussions with the Dunedin City Council Planning people to simplify this process and at least establish a wind turbine category, for building consents.
Once we have established this process with the DCC we can refer to it with other councils. But in the meantime will be subject to the consent rules across the country, one thing in our favor is the support for renewable energy that most councils if not stated in their long term plans, agree to in principle.
Our rural installations and utility installations have been a breeze! with no complexity with consents.
give me a call if you would like to discuss further 021999828
Answered on 08-05-2015 by Tim Mepham
Based on the info presented, your turbine definitely looks competitive compared to other turbines in the market. However, when considering the options, the first comparison will be to solar generally, not to other turbines.
The installed cost of 2kw turbine is ~$20k which over an average year, generates similar power to a 3kw PV system which can be installed for approximately half the cost (have I got the average generation and costs right??). Clearly their are benefits from a generation diversification perspective but this must only be cost effective for those that aren't grid tied?
Further to the question/concern above, PV solar is constantly dropping in price, as are battery storage solutions. Is there much scope to reduce the cost of manufacture (other than that detailed on p26 of the IM) to match the expected reductions in solar?Posted on 08-05-2015 by First Heritage Ltd
We are very conscious of not trying to compete with solar panels but to compliment them.
In our forecasts we are only assuming that 3% of lifestyle and rural situations will be suitable for a wind turbine and represent the available market,then we have assumed a smaller % will be interested in wind as an energy source. Suitability involves having a good wind resource 5 metres per second or more, their are large incremental gains with more wind exposure. We estimate that an average wind speed of 5 m/s will generate 3250 kWh and that 6 m/s will generate 5835 kWh.
As you mention off grid applications have almost an immediate payback due to the cost of establishing grid power connections, we are really interested in this segment.
To make the most of renewable energy we are recommending a solar/ wind combination this is essential in winter, and allows energy generation at night when it is needed the most.
Re your question about cost; the thinair turbine still has a lot of opportunity to shed cost as volumes increase, component parts are few and the manufacturing process has been considered in the design. As we mention in the video the turbine has been designed to be manufactured in large volume, so the more we make the less cost per unit.
The other thing to consider is that the turbine market is an international one and most of the opportunities for localized energy generation exist outside of NZ particularly in developing countries.
Answered on 08-05-2015 by Tim Mepham
Your IM shows you have a NZ patent 531341 and "copyrights". How do you propose to protect your IP outside NZ?Posted on 09-05-2015 by Rick Wakelin
We expect that we will be copied at some stage, the best approach is to continue improvements to the turbine electronics and software and stay ahead. We haven't had the capital to secure international patents nor would we have the resources to defend them. We also know that none of our turbines to date have been available to anyone who can copy them. We are also confidant that it would take a lot of time and effort to reproduce the turbine and control system.
Answered on 09-05-2015 by Tim Mepham
Hi I live in the north island in the Waihi beach area & have pledged $1154 for 200 shares & and are thinking of buy a Thinair102 can I have a more detail cost structurePosted on 11-05-2015 by Trevor L ane
Hi Thanks for your pledge.
We are selling the turbine, 10 metre tower, controller and either battery charger or Inverter for $17,250 (incl GST)+ freight from Dunedin.
You will need to meet the costs of installation that will include constructing the concrete pad and wiring to the meter/house these additional costs vary depending on how much you do yourself but could add another $4,500 to the turbine cost
Answered on 11-05-2015 by Tim Mepham
If you invest $10k in Powerhouse Wind and you also want to buy a wind turbine then we will drop the price of the wind turbine from $17,250 (incl gst) to $15,000 (incl gst) a discount of $2,250 equivalent to deducting the GST from $17,250
Answered on 11-05-2015 by Tim Mepham
With 1 month to go do you think you will make the min $400k.
Its hard to tell, their is a lot of information on this campaign page to digest and most people will take time to read and discuss this before committing to an investment. We also have an event planned in Wellington next Friday where we are inviting potential investors to come and meet us.
Answered on 12-05-2015 by Tim Mepham
How do you expect to compete with one of these ?
Is the wind turbine technology becoming a commodity and a race to the bottom in terms of price and margin ? And, if I have one of these making electricity, and I'm not home to use it, what happens to the generated power ?Posted on 13-05-2015 by Michael
Also their doesn't seem to be a price for the inverter or tower and no indication as to how it is controlled or what sort of protection systems it has.
the most similar turbine to the Thinair out of the US is the Skystream.
We are very keen to take cost out of the turbine at the same time maintaining a good margin and bringing the price down for the customer, to help with the NPV calculations.
If you are not using power then it can be diverted to your hot water system or if their is no other way of using it or storing it then feeding it back into the grid, if you are grid tied.
If you are not grid connected then power is stored in the batteries.
Answered on 13-05-2015 by Tim Mepham
Hi first up very good luck to you. Some product questions, what warranty is offered/possible? What is expected turbine and inverter life? What is the required maintenance and cost of that? ThanksPosted on 13-05-2015 by Michael Thomas
We will be offering a 3 year warranty on our commercial turbines and our engineers predict a 20 year life for the turbine, tower and controller. We use enasolar inverters that have a 5 year warranty and we expect the same product life as the turbine.
The only parts that will need checking and possibly replacing are the bearings it would be worth looking at these every 3-5 years. The main maintenance cost would be labour, it would probably take a maximum of 4 hours for one person to lower the tower and replace bearings if needed, then their is travelling time to consider.
Answered on 14-05-2015 by Tim Mepham
I am thinking of investing in this venture because of strong belief in sustainable energy and application in less developed countries etc. However, please: (i) summarise what are the advantages of the turbine (apart from being one blade, less noise produced, less running cost etc.) (ii) how can the home owner have electricity when there is no wind, (iii) how can one convert the power generated from the turbine into household consumption, do you provide batteries and (iv) lastly, how much power generated so that a normal household can use without having to rely on the main grid supply. Victor
Hi Victor, thanks for your interest.
The advantages you mention are our 'point of difference' or our competitive advantage. As a whole we see wind turbines as part of the renewable energy package that may include solar, hydro, wind and also batteries. The real advantage of this combination is where their is no power infrastructure or it is really expensive to bring in, so totally off grid. NZ is well served with electricity infrastructure for most of the population however their are plenty of people in more remote areas that are being quoted amounts like $85k to get the power lines to where they want to build. NZ is where we want to kick off but it is in developing countries where new local renewable energy systems will provide electricity to households that don't have it at the moment.
The wind turbine is only suitable where their is a good wind resource, if you dont have a site with good wind exposure then a wind turbine is not useful, solar systems or micro hydro will be the power sources for off grid renewable systems, in that situation.
Electricity generated by the wind turbine is rectified by a battery charger, batteries are charged and the house draws power from the batteries, excess electricity if batteries are fully charged can be diverted to the hot water system.
We don't provide batteries, at the moment we are focusing on establishing a manufacturing facility that will produce a quality product. If we are able to raise the equity we need we will establish a network with renewable energy installers in NZ who will supply the full package.
Household electricity consumption is a huge variable, however if the home is well designed to maximise thermal gain, is double glazed and uses energy efficient products then a combination 3kW solar array and a 2 kW wind turbine system should be able to generate 7000-8000 kilowatt hours per year, all very dependent on peak sun and wind speeds. But enough to live on..
Answered on 15-05-2015 by Tim Mepham
Hi, What are the cut in and cut out wind speeds?
What is the survival wind speed?
It would be good to see a picture or video of it furled.
Thanks, JohnPosted on 20-05-2015 by John wilson
Had to check with Bill re the survival speed, which is the same as the tower rated at 70 metres per second.
The cut in speed is 3.5 mps and the cutout speed is 20mps both speeds can be adjusted if needed by our controller.
Answered on 28-05-2015 by Tim Mepham
Very concerning that you don't include any regulatory risk in your RISKS section of the page - big issues with councils not allowing these turbines as a permitted activity. Your thoughts please?Posted on 24-05-2015 by Hamish McConnochie
Our experience so far with councils has been limited to Dunedin and Nelson and we have not had any problems, you have made a valid comment as we have not approached other councils to see where they stand regarding small scale wind turbines although we are aware of a positive trend that is encouraging renewable energy. It is important to remember that, for NZ, our target market is rural residential and rural (off grid and on grid) where in some cases resource consent may not be needed, The turbine is not suitable for a quarter acre section in the middle of a town or city with neighbors close by.
NZ is where we need to start selling and distributing the turbine however we have designed this turbine for global applications such as in developing countries where their is no existing grid infrastructure or consenting issues.
Answered on 25-05-2015 by Tim Mepham
Hi Tim, I would like to forward your company's prospectus and documents to my friends/investors overseas to invite them to buy the company's shares. Pls. advise how I can forward your documents to them via e-mail. ThanksPosted on 25-05-2015 by Vu Diem
A couple of questions,
1. Does the Enasolar inverter have a grid tied option for say future grid feed use.
2. Could a handyman/woman lower the tower themselves to service the unit.
3.From a technical perspective, why just one blade and not say 2 where swept area could be reduced etc.
Yes the Enasolar inverter is designed to be grid tied. The tower can be lowered by a competent person, On one of the turbines that we have installed an electronic winch is connected, this allows the lowering and raising of the tower to be done at the press of a button. In all the other situations the tower is raised and lowered by a gin pole and block and tackle.
The single blade is all about the tip speed ratio (TSR) and width of the blade. The thinair turbine with one blade has an optimum TSR of 7 (the tip travels 7 times the speed of the wind), energy is taken from the turbine without slowing down the TSR. The more blades you have the slower they turn so its important that a single blade turbine maximises the tip speed ratio.
Answered on 11-06-2015 by Tim Mepham
Your IM mentions in Stage 3 international manufacturers and distributors in the USA. Have you already developed and field-tested a 60Hz model, or do you have a timeline for that?
Our AC power system operates at 50 cycles per second or 50 Hz and the US system operates at 60 Hz.
The off grid model is not affected - it is no different for battery charging.
As far as a 60 Hz inverter model goes, I think we would probably have to go with an inverter other than the Enasolar, as I don't think they have plans for a US model. It would be relatively quick and easy to come up with a voltage table driven inverter (as most are for wind turbines), but it will take some development to get something going that works similarly to the integration we have with the Enasolar unit.
We do need to have 60 Hz on the immediate timeline
Answered on 15-06-2015 by Tim Mepham
I'm keen to invest, but can't find any research into the danger posed to birds by single-blade turbines. I don't want to invest in a product that could kill endangered species in New Zealand (or elsewhere). Could you please provide a link to research you have conducted into this issue?Posted on 15-06-2015 by Steve Cosgrove
We have no research to refer to, just experience from the 12 turbines we have currently installed. We are not aware of any bird kill, the blade is highly visible and rotates quickly, unlike the large turbines that create an appearance of gaps between blades, we suspect that windows will be the biggest cause of bird kill around our turbines.
Answered on 15-06-2015 by Tim Mepham
Hi there. I have an off-grid solar array using Outback Power charge controller and inverter. Does the 102 'play nicely' with other systems like Outback?
If the system is based on a 48 V battery it would be very easy to integrate a Thinair system- we would connect our controller and battery charger directly to the 48V battery bus. This is how our current off grid sites are set up and they work well with different inverters and solar charge controllers.
It is best if there is a useful place to dump excess energy if the batteries are full such as a hot water cylinder with an electric element.
Answered on 16-06-2015 by Tim Mepham
Are you able to indicate timing for obtaining AWEA certification?Posted on 16-06-2015 by Jenny Sutton
Not yet, this is one of the things in our business plan that we will do if we are successful with this crowd funding campaign
Answered on 17-06-2015 by Tim Mepham
Can you please explain to me the advantage/reason for having just one blade on your turbine? Why is this better than multiple blades?Posted on 16-06-2015 by Raphael Nolden
One blade is enough,It is all about the tip speed ratio (TSR) and width of the blade. The thinair turbine with one blade has an optimum TSR of 7 (the tip travels 7 times the speed of the wind), energy is taken from the turbine without slowing down the TSR. The more blades you have the slower they turn so its important that a single blade turbine maximises the tip speed ratio, and this is what the thinair does.
Another benefit of the single blade, and a design feature, is that at damaging wind speeds over 20 metres per second the controller will shut the turbine down allowing the blade to blow back and act like a windsock, protecting it from damage.
Answered on 17-06-2015 by Tim Mepham
A follow on question, You say TSR is important which is good. Would this be worse if you had more rotors? Why is it a problem if it rotates slower? That would be quieter right?
You say 1 blade is enough, enough for what? surely there is value in being able to make more power from a single installation rather than having to use an array?
I can see the advantage in high wind conditions but surely you could just lock the blades and rotate it so the blades are in line with the direction of the wind and dont get much force?
Hi, sorry if this question has already been asked. BUt how can I pull out my equity in the future if i invest now? From my understanding as thisis not going to be publicly listed i cannot jsut simply sell the shares on the market. Any light shed on this would be great. thanksPosted on 22-06-2015 by John Desmond Hussey
When you pledge you become a shareholder in PHW Ltd, there are no restrictions on you selling or transferring these shares to someone you know. Their is no facility for trading our shares and if you do sell your shares you will need to advise us so we can update the register.
Answered on 23-06-2015 by Tim Mepham
Who own the founder shares and in what quantities and percentages?Posted on 24-06-2015 by Martin Ough Dealy
There is a table on page 24 of the business plan document, that can be downloaded from this web site under the 'details' tab .
This table shows the founding shareholders and percentages prior to the Pledgeme issue
Answered on 24-06-2015 by Tim Mepham
thank you for identifying the founder share owners. Next question is that it looks as if none of the founder shareholders will have enough shares to elect a director under the 20% rule once the present share sale is complete. So how will the Directors be elected?Posted on 24-06-2015 by Martin Ough Dealy
According to the company constitution the maximum number of Directors is 5. The constitution allows the founder class shareholders to appoint a maximum of four directors to represent the founding shareholders with one additional Director appointed to represent the Pledge me investors
Answered on 25-06-2015 by Tim Mepham
Thank you for that but the constitution says that "a founder shareholder is entitled to appoint 1 Director for each 20% of the shareholding held by it". So, am I correct in saying that a founder shareholder with less than 20% of the shares cannot appoint a Director? That situation would seem to apply to most if not all the founder shareholders.Posted on 25-06-2015 by Martin Ough Dealy
The founder shareholders as a group can appoint 4 directors. If a founder shareholder has 20% or more they can appoint a Director to represent their shareholding within the 4
Answered on 25-06-2015 by Tim Mepham
The Constitution does not mention anything about founder members being able to vote as a group. There seems to be some ambiguity. Para 6 specifically mentions only founder shareholders holding 20% having appointed a director only have the right to dismiss that director, otherwise it allows investor shareholders to have a say. So presumably investor share holders have a say in the appointment of directors where the 20% rule does not apply?Posted on 25-06-2015 by Martin Ough Dealy
Followers of Powerhouse Wind Limited
2015-06-25 22:25:03 +1200
2015-06-25 21:29:51 +1200
2015-06-25 21:07:36 +1200
2015-06-25 21:04:28 +1200
2015-06-25 20:13:07 +1200
"Pleased to support innovative NZ technology applied to renewable energy generation"
2015-06-25 14:38:16 +1200
2015-06-25 14:15:43 +1200
2015-06-25 11:39:59 +1200
"My name is Bill Dacker. I am secretary of Initial Volco Trust and our properties are in a good position to benefit from this proposal."
2015-06-24 23:27:02 +1200
2015-06-24 22:07:41 +1200
"My first speculative investment- I agree with the concept and think these guys look legit, still no real knowledge!! Good luck!! Sell!!"
2015-06-24 20:47:58 +1200
2015-06-24 17:54:37 +1200
2015-06-24 16:59:47 +1200
2015-06-24 16:56:37 +1200
2015-06-24 16:27:52 +1200
2015-06-24 12:41:47 +1200
2015-06-24 10:45:48 +1200
"What a team, and the Pope is on your side!"
2015-06-24 09:06:45 +1200
"Looking forward to be involved and seeing this opportunity grow."
2015-06-24 05:59:45 +1200
2015-06-23 23:01:34 +1200
"Congratulations guys; great to see you funded! Exciting to be able to invest in tomorrow's technologies, developed right here in GodZone ..."
2015-06-23 21:47:04 +1200
"Appreciate the opportunity to support home grown excellence"
2015-06-23 21:00:53 +1200
2015-06-23 20:14:42 +1200
"Wind Power Rules....."
2015-06-23 16:31:00 +1200
2015-06-23 13:23:09 +1200
2015-06-23 12:10:59 +1200
2015-06-23 10:48:37 +1200
2015-06-23 10:06:47 +1200
"We always thought this was a good design, made locally in Otago, good for producing power sustainably."
2015-06-23 09:28:28 +1200
"Very excited about investing in NZ CleanTech"
2015-06-23 08:50:32 +1200
This campaign has closed, but this company may choose to do more equity raises on PledgeMe in the future. If you're interested in investing in Powerhouse Wind Limited, you can sign up to be notified when a new equity campaign from this company is published.