(OTTAWA) – June 9, 2009 – Export Development Canada (EDC) today announced that it guaranteed $750,000 in private-sector financing for Endurance Wind Power Inc. (Endurance), a British Columbia company that manufactures wind turbines.
“EDC actively supports green technology wherever we can, so the opportunity to apply EDC’s domestic capacity towards Endurance Wind Power was very appealing,” said Stephen Poloz, Senior Vice-President, Financing Group, EDC.
EDC provided a guarantee to HSBC Bank Canada facilitate a $1.5 million term facility that will support Endurance’s acquisition of Energie PGE.
Glenn Johnson President and CEO of Endurance added “the relationship with EDC and HSBC Bank Canada has not only allowed us to grow organically, it has enabled the acquisition of Energie PGE which sets the stage for Endurance to be the market leader in the 0-100kw space in North America.”
EDC underwrote more than $450 million in business volume in the green technology sector in 2008.
Endurance Wind Power Inc. is a North American producer of a complete line of small to mid size induction generator, grid-connected (inverterless) wind turbines. They are one of the only manufacturers in the world to offer a suite of products that are built to safety and performance standards of large utility-scale multi-MW turbines. Through their extensive North American distribution network, Endurance can provide best in class wind machines to both US and Canadian markets. For more information visit www.endurancewindpower.com or call 1-888-440-4451.
EDC is Canada’s export credit agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business. EDC’s knowledge and partnerships are used by more than 8,300 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining, a recognized leader in financial reporting and economic analysis, and has been recognized as one of Canada’s Top 100 Employers for eight consecutive years.
Media contact:
Phil Taylor
Export Development Canada
Tel.: (613) 598-2904
Blackberry: ptaylor@edc.ca
