Gazelle Wind Power has raised $4m (€3,400,000) in funding to accelerate the development of its hybrid floating offshore wind platform.
The Gazelle platform aims to unlock the massive deep-water offshore wind market, making this sector a key driver for the worldwide transition to renewable energy.
This investment includes $1.3m in seed funding and another $2.7m in strategic long-term financing which will be used to develop the company’s first grid-connected demonstrator.
Investor participation included 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.
De Torres-Solanot del Pino said: “Gazelle has the potential to completely change the offshore wind industry.
“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.
“The E2IN2 team is delighted to join Gazelle and contribute in its efforts to carry out this invaluable undertaking.”
Costs of construction, installation, and maintenance have hindered the widespread adoption of offshore wind projects, according to Gazelle.
Its model could be a key enabler for floating offshore wind platforms with its disruptive hybrid floating design, which surmounts the current barriers of buoyancy, and geographic limitations while reducing costs and preserving fragile marine environments.
Gazelle Wind Power’s 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, according to the company.