Daniel Gizaw founded Danotek Motion Technologies knowing that renewable energy would play a key role in addressing environmental concerns about the world’s depleting natural resources. However, that wasn’t initially his mission for his company.
While Gizaw launched the company to improve energy efficiency in transportation and energy conversion, renewable energy was only a part of the focus. Yet when he saw the value of wind turbine energy in meeting an increasing energy demand, his vision evolved. By expanding on his company’s fuel-efficiency solution, Gizaw innovated the wind turbine industry and transformed Danotek Motion Technologies into the leading developer and manufacturer of permanent magnet generators for wind turbines.
Investing in wind turbine technology was not without risk. As Gizaw and his team approached wind turbine companies with Danotek’s innovative solution for improving the reliability, efficiency and weight of turbines, some initially resisted the change. But Gizaw knew wind turbines were capital intensive and their operation required significant financial sacrifices before there would be progress and stuck with it, even borrowing money from friends to finance Danotek’s payroll.
His determination to see the idea through eventually gained Danotek the support of private equity and venture investors, and he began winning large turbine companies over with his vision and enthusiasm for harnessing the full potential of wind energy in a cost-effective and sustainable way. Before long, Danotek Motion Technologies had secured financing, and the company was well on its way to building a state-of-the-art company, and in 2008, several major wind turbine companies signed a contract to develop up to three of Danotek Motion Technologies’ three megawatt generators.
The market growth, coupled with the profitability of the business, has led Gizaw to focus his business plan on renewable energy and transportation.
How to reach: Danotek Motion Technologies, (734) 426-5976 or www.danotekmotion.com