Eocycle

About Eocycle

Eocycle Technologies Inc. operates in the distributed wind energy market, providing wind turbines for on-site electricity generation. Founded in 2001 to commercialize a novel generator technology, the Montreal-based company began selling its first turbines in 2009. A significant shift occurred in 2013 when a new management team of professionals from the "large wind" industry refocused the company exclusively on the distributed energy sector, specifically targeting the 20-30 kW turbine range. This led to a four-year R&D program to create a second-generation turbine. Richard Legault, an engineer with a background in renewable energy and a Master's degree in Project Management, currently serves as President and CEO.

The company's business model centers on the manufacturing and sale of 25 kW and 90 kW wind turbines directly to customers, which include farms, commercial and industrial facilities, schools, and communities. This distributed generation approach allows clients to produce their own electricity at costs significantly lower than utility rates, cutting energy expenses and meeting emission targets. Eocycle's turbines are connected to the power grid, enabling any surplus electricity to be sold back, which prevents energy waste and optimizes economic returns for the owner. The company provides comprehensive end-to-end services, including feasibility studies, assistance with permitting, construction, maintenance, and various financing options. Strategic acquisitions of United Wind (USA), Orenda Energy (Canada), and XANT BV (Belgium) in 2018 expanded the company's intellectual property and market presence in North America and Europe.

Eocycle's flagship product is the EO25, a 25 kW direct-drive wind turbine. A key feature is its patented Transverse Flux Permanent Magnet (TFPM) generator, which allows for a smaller, lighter design that achieves high torque and power at lower rotational speeds without a gearbox. The design's simplicity, which also eliminates blade-pitching mechanisms and uses fixed-pitch blades, enhances reliability and reduces the number of moving parts. The turbine starts operating at a wind speed of 3.2 m/s and has a design life of at least 20 years. Eocycle also offers a combined Wind + Solar + Storage (WS2) solution, providing customers with greater energy autonomy. The company has secured certifications including IEC 61400-2, AWEA 9.1 (U.S.), and MCS (U.K.), which are essential for accessing incentives in these key markets. As of April 2024, Eocycle has raised a total of $47 million in equity financing, with a recent $25 million Series A round led by Export Development Canada (EDC) aimed at fueling expansion in the U.S. and Europe.