Irish-based Gazelle Wind Power Limited has raised $4 million in funding to accelerate the development of its hybrid floating offshore wind platform.
The investment includes $1.3 million in seed funding and another $2.7 million in strategic long-term financing which will be used to develop the company’s first grid-connected demonstrator.
Investor participation included distinguished Spanish businessman and E2IN2 founding partner Valentin de Torres-Solanot del Pino, along with Peter Murphy and Zach Mecelis, co-founders of Covalis Capital and leading investors in the energy transition, the company said.
“Gazelle has the potential to completely change the offshore wind industry,” said E2IN2 founding partner Valentin de Torres-Solanot del Pino. “By combining the best features of tension-leg and semi-submersible platforms—while eliminating their drawbacks—Gazelle’s technology will be at the forefront of tomorrow’s energy landscape. "
Gazelle claims its solution's "disruptive" hybrid floating design surmounts the current barriers of buoyancy, and geographic limitations while reducing costs and preserving fragile marine environments.
"Gazelle Wind Power’s innovative, stable, hybrid attenuated mooring platform is designed and engineered by leading naval engineers to enable floating offshore wind production in deeper waters farther out at sea. The patented design allows for a 70% reduction in the weight of steel, while delivering a highly stable platform with a tilt of less than 1° together with a 30% cost reduction compared to other floating wind platforms," the Dublin-based company said, without sharing info on when the first wind turbines featuring its tech could be installed.