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ZOND PLANNING TO GO PUBLIC
1 September 1994
Zond Systems Inc of Tehachapi, California, filed registration papers in late July with the Securities and Exchange Commission (SEC), the first formal and public step that a company take when it plans to go public. The wind power developer and turbine manufacturer filed for an Initial Public Offering of some $50 million, the company confirms. The SEC must approve the filing before shares in Zond can be sold publicly. Zond unveiled its new turbine, the 500 kW Z-40, at the Windpower '94 conference in Minneapolis in May. It is the largest wind turbine produced in the United States. Zond said in May that it expects to have up to 40 MW of Z40s installed in California by early next year. Only two other wind companies are publicly traded, Kenetech Corp and New World Power Corp.
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