French floating offshore wind developer Ideol has secured funding from the European Commission to help commercialise and industrialise its technology.
The €2.5m, from the Horizon 2020 SME Instrument programme, will be used for the so-called Leadfloat project.
Ideol said Leadfloat has three objectives. First to mass produce the company’s floating foundation. Second, valorisation of the results obtained from the Floatgen turbine operating off France, and, third, strengthen commercial development in strategic markets, including Japan.
Ideol chief executive Paul de la Gueriviere said: “This grant demonstrates that our company is recognised as one of the jewels of the French and European cleantech industry.
“A few months after raising €15m from leading private investors, this announcement shows that our potential is clear for both public authorities and the private sector.”