Xzeres opens European subsidiary
By Christina Williams, Sustainable Business Oregon
Sustainable Business Oregon
Xzeres Wind Corp. announced Wednesday that the company opened a wholly owned subsidiary in Dublin.
Wilsonville-based Xzeres formed Xzeres Wind Europe Ltd. at the same time it landed its first European order, which will be delivered to a customer in the United Kingdom. The company also achieved its CE Mark, also known as Conformite Europeene, a certification for the European market having to do with workplace and consumer safety.
"We have high expectations for this geographic area," said Frank Greco, Xzeres CEO, in a press release.
According to research firm Frost & Sullivan, the market for smaller wind turbines has lagged in Europe behind the larger-format wind farms, as it has in the United States. But the United Kingdom has policies in place to encourage small wind development.
Xzeres, which is traded over the counter under the symbol XWND, raised $4 million in May. Last month, the company rolled out a new rent-to-own option for wind power that gained attention in the industry.
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