Gazelle Wind Power Limited, a European floating offshore wind platform developer, has completed a €11.4 million funding round led by Indico Capital Partners.
The funding will support the development of Gazelle’s 2 MW grid-connected demonstrator, Nau Azul, located in Aguçadoura, Portugal. Other notable investors in the round include dst group, August One, Wah Kwong, and E2IN2.
“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,” said Gazelle Wind Power CEO Jon Salazar.
“The Nau Azul project will serve as an example of how to design, build, install, operate and therefore enable cost-competitive floating wind energy generation.”
Gazelle’s floating offshore wind platform is designed to tackle key industry challenges such as high production and installation costs, complex logistics, limited suitable installation sites, and the environmental impact on marine ecosystems.
The company’s platform features a patented dynamic mooring system that balances movement and reduces pitch in response to wind, waves, and tides. Its lightweight, modular design, which does not rely on active ballasting systems, enables scalable and adaptable configurations, facilitating cost-effective production and assembly near installation sites.
Stephan de Moraes, Co-Founder and Managing General Partner at Indico Capital Partners, noted: “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.”
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