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Endurance Wind Power Secures $10MM Credit Facility From Comerica

September 08, 2014, 07:19 AM
Filed Under: Energy

Endurance Wind Power Inc., the leader in distributed wind solutions, announced today that it has recently closed a $10 million senior revolving credit facility with Comerica Bank, and supported by Export Development Canada under its Export Guarantee Program. The new credit facility more than triples the previous credit available to Endurance through Comerica and will be used to provide working capital support to the company as it continues its growth internationally.

"This is a big win for Endurance and for distributed wind energy," says Endurance CEO Glenn Johnson. "To our knowledge, this new line of credit is the largest lending commitment of its type to date within the distributed wind industry. It demonstrates a tremendous level of confidence in distributed wind energy generally, and in Endurance specifically. We are very pleased with the support that we have received over the years from both Comerica and EDC. We consider them to be partners in our growth."

"Endurance is a great success story. They have a strong vision to guide them and strong management that's getting things done. We are very pleased to create this new facility and be part of their success," says J. P. Michael, Senior Vice President and Regional Managing Director for the Technology and Life Sciences Division at Comerica.

"For Export Development Canada, our partnership with Endurance goes back to the beginning when it was acquiring technology and opening factories. We see this as the beginning of another exciting chapter in a Endurance's clean tech success story," says Rod Lever, Strategic Accounts, Cleantech Lead at Export Development Canada.

Endurance Wind Power Inc. is the leader in distributed wind energy solutions.

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