Gazelle Wind Power, developer of floating offshore wind platform technology, has secured €11.4 million in funding led by Indico Capital Partners.
Other investors in the round included DST Group, August One, Wah Kwong and E2IN2. The funding is slated to be used to further accelerate the development of Nau Azul, Gazelle’s 2 MW grid-connected demonstrator in Aguçadoura, Portugal.
“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,” says 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.”
The company says that its platform’s dynamic mooring system reduces pitch and balances movement in response to external forces, adding that the design does not use active ballasting systems, and allows for adaptable configurations.
The company recently opened an office near the Nau Azul project site in Viana do Castelo, Portugal.
