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Ryse Energy, a renewables company based in Abu Dhabi's Masdar City, has acquired US micro wind turbine maker Primus Wind Power.
The acquisition opens up the door for Ryse Energy to opportunities in North America and fast-tracks American manufactured Ryse Energy wind turbines, the company said in a statement on Wednesday.
Ryse Energy provides wind and solar as standalone technologies, offering either grid-connected or off-grid options with energy storage.
The acquisition adds Primus Wind Power's AIR turbines to Ryse Energy small turbine portfolio and "unlocks strategic synergies", the company said.
It didn't disclose the financial terms of the acquisition.
In April 2023, Ryse Energy raised $15 million in a funding round led by RWE Energy Transition Investments, an investment vehicle of RWE Supply & Trading GmbH, the energy trading arm of the Germany-based global renewable energy company RWE.
(Writing by Brinda Darasha; editing by Seban Scaria)
