In 2009 a small company called Makani Power was in trouble. It had developed a high-altitude wind turbine, designed to soar 1,000 feet in the air, where consistently high winds make it cheaper to generate power. After several years the company faced a classic startup problem: It still wasn't close to producing revenue and had spent almost all its initial seed money. To cross the so-called Valley of Death, Makani would need fresh capital, but there were no offers on the table.
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