SOURCE: Endurance Wind Power Inc.

Endurance Wind Power Turbine Distributed Renable Cleantech

September 05, 2014 15:23 ET

Endurance Wind Power Secures USD10 Million Credit Facility

Follows Recent Appointment of Bradley Bardua, CA as Chief Financial Officer

VANCOUVER, BC--(Marketwired - September 05, 2014) - Endurance Wind Power Inc., the leader in distributed wind solutions, announced today that it has recently closed a USD 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 is also pleased to announce the appointment of Bradley Bardua, CA as CFO at Endurance Wind Power in June 2014. Mr. Bardua has held a number of senior financial positions in companies in a variety of industries, ranging from resources to entertainment to technology, and brings a wealth of financial expertise to Endurance. Over his 20 plus year career he has been responsible for raising significant amounts of debt and equity capital, in both public and private markets, to support company growth and he is well-respected in financial markets. Most recently, Mr. Bardua was CFO for Avigilon Corporation, a leading designer and manufacturer of high-definition surveillance systems, where he was part of the team that grew the company from a market capitalization of approximately $125 million at IPO to over $1 billion within 2 years.

"I am excited to be part of Endurance. The team has done an excellent job building a great business with high levels of momentum, scale and success," says Bradley Bardua. "This is a great time for Endurance and I'm really looking forward to moving us to the next level of financial growth."

About Endurance Wind Power

Endurance Wind Power Inc. is the leader in distributed wind energy solutions. Our vision is to create a global wind network to deliver localized, affordable clean energy.

Founded in 2007, Endurance is headquartered in Surrey, British Columbia, with offices in Canada, UK, Italy, Denmark and the United States and manufacturing facilities in Canada and the UK. Our 50 kW E-Series and 225 kW X-Series turbines are designed in-house to meet the needs of the small to midsize wind power applications deployed by farms, dairies, institutions and light industry. Today, the Endurance wind turbine fleet boasts 750 installations worldwide and has cumulative fleet operating time in excess of 13 million hours.

Endurance began as a manufacturer of wind turbines, which were sold through a network of third-party dealers, and developed a global reputation for product quality and customer service. Endurance has recently begun to transition into a distributed energy generation company by directly owning and operating wind turbines in its major markets. This transition enables Endurance to capitalize on the large and growing global market for renewable energy generation.

A leader in Canadian Clean Tech, Endurance has received many accolades, including winner of the 2013 Ernst & Young Cleantech Award and Endurance CEO, Glenn Johnson, being named the 2013 Ernst & Young Entrepreneur of the Year, Pacific Region.

Contact Information

  • Media Contact
    Bill Bishop
    Director of Marketing
    Endurance Wind Power Inc.
    +1 604 579 9434