South Bend, IN – September 1, 2011 – Space Angels Network, LLC, a national network of seed‐ and early‐stage investors focused on aerospace‐related ventures, today announced that one of its members completed an investment in Sorian, Inc. of South Bend, IN.
Sorian’s plasma actuator technology or ‘Plasma Flap’ uses ionized air, or plasma to create the same aerodynamic effect as the trailing edge flaps on an airplane wing. This virtual shaping capability increases the annual output of utility scale wind turbines by up to 20%. Sorian is currently developing an aftermarket retrofit kit for wind turbines and is working with a leading turbine OEM to demonstrate the technology.
“We are working closely with the OEM and have recently executed a $1M+ contract with a large multi‐ national wind farm developer to conduct a field trial of our system beginning in Q1 2012,” said Sorian President & CEO Chad Barden. “The current financing round from Space Angels Network will augment the funding from the wind farm developer and bring us closer to the full‐scale commercial launch of our innovative product.” Mr Barden is an accomplished entrepreneur whose prior experience includes the successful sale of Nuron to Intel in 2001 as Nuron’s COO.
Joe Landon, Space Angels Network Managing Director commented on the Sorian deal: “‘Plasma Flaps’ will get their start on wind turbines, but it’s only a matter of time before Sorian’s technology can be used for aircraft‐related applications. Space Angels Network members are very excited to be a part of the development of this exciting new aerospace technology.”
The amount of the investment was not disclosed.
About Space Angels Network, LLC
Space Angels Network is a professionally managed national network of seed‐ and early‐stage investors focused on aerospace‐related ventures. Space Angels Network members share a common passion for promoting the development of the aerospace industry and related technologies while also earning attractive returns on private investments. The network allows members to find unique aerospace investment opportunities, to connect with like‐minded accredited investors and aerospace industry experts around the world, and to collaborate on due diligence and deal negotiations. Through its extended strategic relationships with venture capital firms, federal science and technology agencies, state economic development organizations, incubators, research universities, incentive prize organizations, and other partners, Space Angels Network creates a robust ecosystem for both aerospace entrepreneurs and investors to connect for seed‐ and early‐stage financing. For more information, please visit spaceangels.wpengine.com.
About Sorian, Inc.
Sorian, Inc. is developing a retrofit for utility scale wind turbines that will increase annual power output by 10‐20%. Sorian’s technology, plasma actuators, allows for “virtual shaping” of the blade which optimizes their aerodynamic performance over the range of wind speeds experienced in the field. Plasma actuators operate electronically, and thus require no moving parts. The retrofit can be installed without removal of the blades and with minimal turbine downtime. www.sorian‐inc.com