Nov 22 2010
Turnstone Environmental Technologies owned by Turnstone Capital Management, has felicitated ClimateWell its licensor partner on winning the Ecomagination Challenge conducted by GE. The SolarChiller manufactured by ClimateWell is one among the 12 ideas that are chosen for the award. Currently, Turnstone has undivided rights to produce and sell ClimateWell products in India and some select places in the United States.
The SolarChiller offered by Climate Well changes the heat energy received from the Sun to provide cooling for factories, data centers, commercial buildings, hospitals and houses. The SolarChiller seizes the solar energy, stores and releases it when required and offers the required cooling effect even after sun set. The Chillers are incorporated in over 200 installations set all over the Europe and the Middle East. The Chillers also can be utilized in rural areas and off grid locations with low level availability of electric power to program and monitor the functions of the system.
The Ecomagination Challenge valued at $200 million is awarded for innovative research works for developing novel clean energy technologies. For the purpose of identifying the novel technologies GE joined venture capital companies such as Foundation Capital, Rockport Capital, Emerald Technology Ventures, and Kleiner Perkins Caufield & Byers.
Marc La Magna, who leads Turnstone Environmental Technologies as Chairman, congratulated the team members of ClimateWell. He added that his company is aimed at introducing SolarChillers in new markets of India where energy efficiency is considered vital for the economic growth of the country. He elaborated his intentions to work along with developers, builders, solar installers and building owners in introducing the product that save on power and reduce carbon dioxide releases.