Massachusetts Green Bubble Alert
March 27, 2011
ALERT: FloDesign Wilbraham, MA
Conspicuously absent in the news since their awards of $11.3 million in federal and state grants is FloDesign wind turbine company.
It should raise eyebrows that FloDesign's Advisor Ian Bowles was simultaneously serving as Massachusetts Executive Secretary of Energy and Environment and Founding Chairman of the Clean Energy Center that granted FloDesign a $3 million dollar ratepayer-funded package.
Secretary Ian Bowles oversees the Commonwealths six environmental, natural resource and energy regulatory agencies. Massachusetts
is the first state in the nation to combine energy and environmental agencies under one Cabinet secretary. He also serves as Chairman of the Massachusetts Water Resources Authority and Chairman of the Energy Facilities Siting
Massachusetts is giving $3 million in grants and loans to FloDesign Wind Turbine Corp. of
Wilbraham to keep the company here after several other states tried to lure it
away. In return, FloDesign has promised to relocate its headquarters to Waltham
and hire more than 100 people. (Full article)
The financial package provided by MassCEC advances three goals Governor Patrick sees
as important to expanding the clean energy industry. It will keep an innovative
clean energy company right here in Massachusetts, it will help public entities
benefit from this advanced renewable energy technology and it will give
FloDesign Wind real-world experience to learn from," said Secretary of Energy and Environmental
Affairs Ian Bowles, who chairs MassCEC's board of directors.
As part of the Patrick-Murray Administration's Massachusetts Recovery Plan,
FloDesign Wind Turbine will expand its operations in Massachusetts. The company
is establishing a new corporate headquarters and product development center in
the historic Waltham Watch Factory in addition to maintaining its aerodynamic
research center in Wilbraham. The company also intends to assemble its first
wind turbines in Massachusetts.
has been recognized for its 'transformative' technology by U.S. Energy Secretary
Steven Chu, and I am pleased to see this innovative Massachusetts company
choosing to stay and grow right here, creating jobs and helping Massachusetts
show the nation and the world the way toward a clean energy economy," said
Massachusetts Governor Deval Patrick.
our Administration continues to position the Commonwealth for long-term economic
growth, we have pulled together attractive resources and tools to offer
innovative companies, who are committed to expanding their clean energy business
in Massachusetts," said Lieutenant Governor Timothy Murray. "We want to see
these companies succeed and grow here, and our strategic investments are helping
companies like FloDesign accomplish these goals."
To help facilitate this expansion, the Massachusetts Clean Energy Center (MassCEC)
has approved a $3 million financing package for FloDesign. The package includes
a five-year $700,000 forgivable loan, contingent on the company maintaining its
corporate headquarters and primary R&D facility in Massachusetts, creating
or retaining 150 jobs in the next three years and maintaining those jobs for an
additional two years. In addition, the package includes a $600,000 convertible
grant, which gives MassCEC an equity stake in FloDesign should the company
receive additional financing, and $1.7 million from MassCEC's Renewable Energy
Trust to defray a portion of the cost of installing the company's first
"shrouded" wind turbines at state or local public entities and non-profit
Boston Globe 6/05/2011
He is also serving as an adviser for Harvest Power, a
Waltham company that produces biogas, fertilizers, and soil products from food
and yard waste, and FloDesign Wind Turbine Corp. of Waltham,
which is developing a new kind of wind turbine. Last year, the state gave
FloDesign $3 million in grants and loans in
exchange for a promise to remain in Massachusetts and gradually create
additional jobs. Bowles said he will not be involved in FloDesign’s work that
was funded with state money. Harvest Power, meanwhile, raised
nearly $52 million in venture capital in March.
In addition, Bowles is working with two stealth start-ups funded by
Cambridge venture capital firm General Catalyst and considering launching a
start-up of his own that would work in energy efficiency. “It’s an interesting
time in clean energy for sure,’’ Bowles said.
receives $8.3 mill stimulus
Updated: Monday, 23 Nov
2009, 8:31 PM EST
Published : Monday, 23 Nov 2009, 8:31 PM
(WWLP) - A Wilbraham company that is developing wind turbines to be used as a
renewable energy source, has received an $8.3 million dollar federal stimulus
Turbine is developing turbines that could lead to breakthroughs in how we
Congressman Richard Neal announced the grant during a
visit this morning.
CFO, FloDesign Wind Turbine Corp
Wind Power Panelist
Matthew Commons is Chief Financial Officer
for FloDesign Wind Turbine Corp.,
which manufactures high efficiency utility-scale shrouded wind turbines. He is
responsible for financial management, business development and strategic
planning. He has worked with renewable technologies since 2001 in positions at
Enron, American Electric Power, LS Power Equity Advisors and The NorthBridge Group.
His experience includes development, financing, and power sales agreements for
over 500 MW of wind resources.
Exactly what public benefit has been realized by our investment of $11.3 million in FloDesign with Advisor Ian Bowles-then MA Energy Secretary and Founding Chairman of the MA Clean Energy Center that kicked in $3 million to FloDesign?