Gazelle Wind Power Limited, an offshore wind developer based in Ireland announced recently that it has raised almost €3.5 million in funding to accelerate the development of its hybrid floating offshore wind platform
Gazelle Wind Power Limited, an offshore wind developer based in Ireland announced recently that it has raised almost €3.5 million in funding to accelerate the development of its hybrid floating offshore wind platform. The Gazelle platform is unlocking the massive deep-water offshore wind market, making this sector a key driver for the worldwide transition to renewable energy.
This investment includes a little over a million euros in seed funding and another €2.3 million in strategic long-term financing which will be used to develop the company’s first grid-connected demonstrator. 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) have joined the enterprise as private investors.
E2IN2 founding partner Valentin 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.”
Offshore wind projects have traditionally lagged behind onshore wind and other renewable energy projects in both investment and implementation. Costs of construction, installation, and maintenance have hindered the widespread adoption of offshore wind projects. Gazelle has emerged as a key enabler for hybrid 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 recently named an elite group of energy industry veterans to its board of directors, including leading global policymakers, government officials, engineers, and CEOs.
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