About Verdant Power
Verdant Power is an Energy & Utilities company based in New York (United States) founded in 2000. It operates as a tidal turbines are developed and manufactured for hydropower projects. Verdant Power has raised $6.75 million across 9 funding rounds from investors including DOE and OSTI.GOV. The company has 10 employees. Its chief executive is John Banigan. Verdant Power offers products and services including Tidal Turbine System and HydroWing Technology. Its focus areas include Energy Tech, Renewable Energy Tech, Marine Energy and Tidal. Its legal entity is Verdant Power, Inc. Its competitors include Minesto, Tocardo, Nova Innovation, Marine Current Turbines and EEL Energy and 4 more; 7 of its 9 listed competitors have raised funding.
Company details
Project developer and manufacturer of tidal turbines. Their technology is based on a kinetic hydropower system, which incorporates turbines with open three-bladed rotors installed fully underwater, invisible from shore. The turbine is designed to self-rotate into the prevailing current so that the blades are optimally aligned to generate energy. This rotation drives an induction generator located within the main body of the turbine to generate electricity, which is transferred to onshore equipment via an underwater cable.
- Headquarters New York, United States
- Employees 10
- SectorsEnergy & Utilities
- Email••••••••
- Website verdantpower.com
- Social LinkedIn
- Legal Name Verdant Power, Inc.
- Annual Revenue$1.56 M (USD)132as on Dec 31, 2019
- Net Profit-$952.42 K (USD)28as on Dec 31, 2019
- Total Equity Funding$6.75M (USD)
in 9 rounds
- Latest Funding Round$3M (USD), Grant
Sep 2018
- InvestorsDOE
& 1 more
- Employee Count10
Products & Services of Verdant Power
Verdant Power offers a comprehensive portfolio of products and services, including Tidal Turbine System and HydroWing Technology.
Technology for harnessing tidal flows to generate electricity
Patented system for deploying tidal energy projects
Funding Insights of Verdant Power
Verdant Power has successfully raised a total of $6.75M across 9 strategic funding rounds. The most recent funding activity was a Grant round of $3 million completed in September 2018. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $6.75M
- Total Rounds 9
- Last Round Grant — $3M
- First Round $1.12M
(Sep 2008)
- Investors Count 2
All 9 funding rounds of Verdant Power with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
2 investors in total: 2 institutional.
Investors in Verdant Power
Verdant Power has secured backing from 2 investors, including institutional investors. Prominent investors backing the company include DOE and OSTI.GOV.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Energy sources and policies are managed by the DOE. | 1977 | energy.gov | - | |
Scientific and technical information is managed and disseminated by OSTI.GOV. | – | osti.gov | Oak Ridge, United States |
Investor details for Verdant Power
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People of Verdant Power
5 people are tracked at Verdant Power (1 in leadership, 4 in board & advisors); the tracked headcount is 10.
| Name | Role | Group |
|---|---|---|
John Banigan | CEO | Leadership |
Mary Ann Adonizio | Advisor | Board & advisors |
Joseph Klein | Director | Board & advisors |
Joseph Helpern | Director | Board & advisors |
Glenn Smith | Advisor | Board & advisors |
Complete people profiles for Verdant Power
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Timeline of Verdant Power
3 dated milestones of Verdant Power across 18 years, from founding to its latest funding, stage changes and deals.
- Founded Verdant Power is founded.
- Funding First funding round of $1.1M.
- Funding Latest funding round, Grant, of $3.0M.
Competitors of Verdant Power
Verdant Power has 9 listed competitors in our database, 7 of them funded. They include Minesto, Tocardo, Nova Innovation, Marine Current Turbines and EEL Energy, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| minesto.com | 2007 | Gothenburg, Sweden | $2.5M | – | Tidal energy is harnessed through an underwater kite with turbine. | |
| tocardo.com | 2008 | Den Oever, Netherlands | – | – | Manufacturer of tidal turbines | |
| novainnovation.com | 2010 | Edinburgh, United Kingdom | $3.72M | 36 | Submerged turbine systems are provided for tidal energy conversion projects. | |
| marineturbines.com | 1999 | Bristol, United Kingdom | – | – | Tidal power generators are developed for marine electricity production. | |
| eel-energy.fr | 2011 | Paris, France | $3.88M | – | Tidal currents are harnessed by the EEL Tidal Energy Converter. | |
| sustainablemarine.com | 2012 | East Cowes, United Kingdom | $11.34M | 15 | Manufactures tidal energy turbines for sustainable marine power generation. | |
| sabella.bzh | 2008 | Quimper, France | $8.47M | – | Submerged tidal turbines for marine energy are developed and deployed. | |
| orbitalmarine.com | 2002 | Kirkwall, Scotland | $11.42M | – | Tidal turbine systems are developed for renewable energy generation. | |
| seaqurrent.com | 2013 | Grou, Netherlands | $4.76M | – | Tidal energy is harnessed via development of tidal kite systems. |
Detailed competitors of Verdant Power
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Web traffic of Verdant Power
The website of Verdant Power (verdantpower.com) receives about 2.5K visits a month.
- Monthly visits2.5K
▲ 24.6% vs previous month
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Silicon-based solar PV modules are manufactured for diverse applications. | 1985 | San Jose, California, United States | USD 171.73 M | USD 300 M | 600 | |
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Iron-air energy storage systems are developed for renewable energy projects. | 2009 | Somerville, Massachusetts, United States | USD 2 B | – | 902 | |
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Producer and supplier of green hydrogen | 2017 | Nantes, Pays De La Loire, France | USD 96.93 M | USD 11.48 M | 199 | |
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Provider of hydrogen production and storage solutions | 1927 | Oslo, Oslo, Norway | – | USD 95.55 M | 409 |
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Related news about Verdant Power
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Frequently Asked Questions about Verdant Power
Verdant Power was founded in 2000 and raised its 1st funding round 8 years after it was founded.
Verdant Power is headquartered in New York, United States. It is registered at New York, New York, United States.
John Banigan is the current CEO of Verdant Power.
Verdant Power is a funded company, having raised a total of $6.75M across 9 funding rounds to date. The company's 1st funding round was a Grant of $1.12M, raised on Sep 2008.
Verdant Power has 10 employees.
Annual revenue of Verdant Power is $1.56M as on Dec 31, 2019.
Project developer and manufacturer of tidal turbines. Their technology is based on a kinetic hydropower system, which incorporates turbines with open three-bladed rotors installed fully underwater, invisible from shore. The turbine is designed to self-rotate into the prevailing current so that the blades are optimally aligned to generate energy. This rotation drives an induction generator located within the main body of the turbine to generate electricity, which is transferred to onshore equipment via an underwater cable.
Verdant Power's top competitors include Minesto, Nova Innovation and Tocardo.
Verdant Power offers Tidal Turbine System and HydroWing Technology.
Verdant Power operates through Verdant Power, Inc..