Wind turbine blade maker TPI Composites has landed $20 million in a second round of funding — and one of the leading investors, GE, is also a customer.
The Scottsdale, Ariz.-based company announced the funding Thursday at the Cleantech Investor Summit in Palm Springs. Investors included GE Equity and GE Energy Financial Services, Landmark Growth Capital Partners, NGP Energy Technology Partners and Angeleno Group. TPI, which started out as a fiberglass boat maker but now makes composite materials for wind power, military and transportation markets, raised $22 million in 2007.
TPI sells its wind turbine blades to GE Energy as well as to Mitsubishi Power Systems, meaning that GE...