A Japanese boutique appliance maker has its eyes on a new challenge amid the energy transition trend: developing a small-scale wind power generator.
(Bloomberg) — A Japanese boutique appliance maker has its eyes on a new challenge amid the energy transition trend: developing a small-scale wind power generator.
Balmuda Inc. — the manufacturer of products including a $300 toaster that has a cult following — said it will begin trials this fall of a small wind power generator it’s been developing. The company said it is seeking to expand into “making” electricity as well as “using” it, according to a statement Monday.
Shares of the company jumped as much as 6% intraday following the announcement, the most since June 2022. Balmuda, which has a market capitalization of about $106 million, has seen its stock decline more than 30% this year.
A Balmuda spokesperson didn’t disclose details such as when the product will be available, and what kilowatt-hour capacity the generators would have.
Balmuda, whose toaster became a hit in 2015, has expanded its product line to include sleek rice cookers, speakers, lamps and room fans. The company recently faltered with developing its own smartphone, and ceased those operations in May.
The company is seeking a patent for its “modern multi-blade turbine,” a technology that originated from its “GreenFan” room fan. Compact wind power systems could be a cost-effective way to power homes with renewable energy, according to a US Department of Energy website.
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