Gazelle Wind Power, a developer of floating offshore wind platform technology, has secured an €11.4M round led by Indico Capital Partners, a premier investor in ocean related sustainable technologies. Other investors in the round included DST Group, August One, Wah Kwong, and E2IN2. The funding will further accelerate the development of Nau Azul, Gazelle’s 2MW grid-connected demonstrator in Aguçadoura, Portugal.
Gazelle’s floating offshore wind platform addresses critical industry challenges like high mass production and installation costs, complex supply chain logistics and limited suitable installation sites. The platform’s revolutionary patented dynamic mooring system reduces pitch and balances movement in response to external forces, including wind, waves, and tide.
“Indico’s reputation for backing pioneering, sustainable technologies speaks volumes about the potential they see in our floating wind platform technology unlocking the offshore wind industry globally,” commented Gazelle Wind Power CEO Jon Salazar. “The Nau Azul project will serve as an example of how to design, build, install, operate and therefore enablecost-competitive floating wind energy generation.”
Stephan de Moraes, Co-Founder and Managing General Partner at Indico Capital Partners stated: “Offshore renewables will be a fundamental contributor to a more sustainable energy production mix. For costs to be competitive we need new ways to build, install and operate these mega structures.
“Gazelle offers a solution for that pressing problem of cost competitiveness with a “lego” type of structure that will bring costs down dramatically and enables the installation of deep-sea wind farms all over the world.”
Gazelle investment was made through the Indico Blue Fund—a €50 million fund dedicated to supporting the blue economy.
By Tech.eu
Source: Tech.eu