Who is your customer?
Our customers are wind power plant developers, power generation companies and high-energy consuming companies (industrial, military and retail).
SheerWind's INVELOX technology has applications in venues ranging from onshore and offshore utility-scale wind farms, to small wind farms, to rooftop wind turbines, to micro-power generation systems, to military and emergency applications. The INVELOX products are even more attractive to investors because of its broad range of applications and scalability in power industry. This means the total market for INVELOX power plants will be as big as the total power market (traditional and renewable) that is about $250 billion in USA and exceeds $1 trillion globally.
What problem does this idea/product solve or what market need does it serve?
Today’s wind power systems have incrementally improved wind turbines, but the gains have come from building turbines with ever-larger blades, perched on ever-taller towers, and built at ever-increasing expense. The cost of wind-generated power still exceeds the cost of power from coal and natural gas, and harms environment and people.
INVELOX is a deep rethinking of the problem, and it is based on a concept of elegant simplicity: instead of a pinwheel snatching bits of energy from the wind as it passes through the blades of a rotor, INVELOX begins with a scoop that channels the wind from multiple collection funnels to a single, ground-based generator, concentrating it so the power output rises almost exponentially. We create positive economic, environmental and social benefits of appreciably increasing power output while significantly lowering capital/maintenance costs, as well as substantially reducing negative impacts on wildlife, public health, and FAA/military radar. INVELOX’s low cut-in speed of about 2 mph improves wind power reliability and allows wind power installations in more locations near people and buildings where electrical power is needed.
What attributes will make this idea/product successful? Why do you believe that those features will create success?
SheerWind turns wind power on its head by taking the blades and turbines out of the sky and placing them at ground level creating positive economic, environmental and social benefits.
SheerWind's INVELOX, named for INcreased VELocity of wind, captures wind as a fluid to provide hydroelectric economics from accelerated air flow to produce electricity cheaper than natural gas and a cut-in wind speed as low as 2 mph transforming wind energy into a reliable, baseload power source.
INVELOX is a true game changer that reduces the cost of generated electrical power by 16% to 38% with 3x improved performance on 50% shorter towers placed on 90% less acreage, is operated and maintained at 40% to 45% lower costs, and uses 84% shorter turbine blades than traditional wind power generation systems.
Explain how you (your team) will execute to make this idea/product successful? What gives you (your team) an advantage over others already in the market or new to this market?
SheerWind is led by a successful serial entrepreneur, Dr. Daryoush Allaei, Founder, CEO and CTO, a strong management team and board of directors, as well as several strategic partners and an esteemed technical and business advisory board.
Management Team: Dr. Daryoush Allaei, Founder, CEO and CTO - successful serial entrepreneur; Cyndi Lesher, CAO - former President and CEO of Northern States Power Company; Col. Steve Hill (Ret.), COO – former Chief of Staff for the U.S. Army Corps of Engineers; Mark Borman, CFO - financial executive and board member of startup, private equity, IPO, and publicly traded companies.
Board of Directors: James Howard III, Chairman - former CEO/Chairman of Xcel Energy; Craig Mataczynski - CEO of Gradient Resources, former CEO of RES Americas; Dr. Jamshid Vayghan - CTO for IBM’s internal sales transformation; Joseph Lawyer - former US Steel Executive and board member of private and public companies; Jay Novak - Advisor at Aethlon Capital; former Publisher and Editor of Twin Cities Business; Dr. Daryoush Allaei.
Technical Advisory Board: Dr. Ali Sadegh, CUNY; Dr. Yiannis Andreopoulos, CUNY; Dr. Sheila Widnall, MIT; Dr. Bob Crowe, Former DARPA Program Manager; Dr. David Porter, Senior Scientist, Minnesota Supercomputing Institute, University of Minnesota.
Business Advisory Board: Daniel Tenenbaum, Corporate Counsel, Gray Plant Mooty P.A.; Nazie Eftekhari, President, HealthEZ; Jeff Robbins, Partner, Messerli & Kramer P.A.; Paul Seppanen, former President - EMS / Services at Broadwind Energy; Clay Parker, CEO of Sciogen Holdings.
Business Model: Our business model is based on licensing the INVELOX technology to wind power plant developers and power generation companies. We assume a sales cycle of 2 years for new customers and 1 year for repeat customers. The fees and royalties that customers pay as per megawatt hour (MWH) of energy sold are built into the costs of our value proposition that provides a cost reduction of 16% to 38% per MWH of energy generation. This savings will directly improve their bottom line profit.
Traction: SheerWind has two patents granted and four pending. We are working with an industrial company and U.S. military to formulate a pilot program. During the formulation of the pilot programs, we have addressed manufacturing, construction, permit and regulatory matters, grid connectivity, community perspectives, and other applications/issues. We have also started to work with our strategic partners/alliances from planning stage to implementation phase to maintenance/operation. With this experience, we will develop a sales model to be replicated and scaled.