X1 Wind Gets Funding for Floating Wind Project

Tuesday, June 22, 2021
Credit: x1 wind

Spain-based floating wind technology developer X1 Wind said Tuesday it had secured a €2.5 million ($2,97 million) grant to launch its first commercial floating wind project.

The floating wind technology developer has been allocated the grant through the European Innovation Council (EIC) Accelerator program.

X1 Wind was named among 38 of the most promising start-ups by the EIC after being shortlisted from 4200 applications to receive funding to ‘develop and scale up ground-breaking innovations.’

The company, based in Barcelona, is currently preparing to deploy its PivotBuoy technology at 1:3 scale in the Canary Islands after successfully completing the assembly and load-out. 

The fully functional (X30) prototype is equipped with a Vestas V29 turbine and will be stationed at a 50m water depth at the PLOCAN test site with full exposure to open ocean conditions.

X1 Wind CEO & Co-Founder Alex Ravento said the cash injection would be specifically used to fast-track the detailed design and certification of the company's first large-scale floating wind unit. 

"We are currently in the process of evaluating potential pre-commercial sites and projects, in order to continue driving momentum following our current demonstration project in the Canary Islands," he said.
According to X1 Wind, its technology is designed to substantially reduce the current Levelized Cost Of Electricity (LCOE) of floating wind through reduced floater weight, a faster and cheaper installation process, and a more reliable operation. 

The system is connected to a single point mooring system in a downwind configuration – creating a ‘weathervaning’ solution that maximizes the use of passive systems, per X1 Wind.

As well as the financial support, the benefactors of the EIC Accelerator program also have access to coaching, networking and business acceleration services to help build their businesses.

“Our next-generation floating wind platform has a unique design that scales up efficiently with increasingly larger turbines. In addition, the platform’s modular design is highly suitable for mass manufacturing, advancing the industrialization plans for serial fabrication of floating wind,” said Raventos. 

"This will enable us to meet the considerable demand and fuel ambitious targets set out for the global expansion of the industry. X1 Wind’s final commercial-scale design will draw on knowledge and expertise from experienced fabricators, shipyards and ports to automate and streamline processes, which will ultimately help drive down costs.“

Categories: Offshore Energy Industry News Offshore Wind Activity Europe

Related Stories

Fugro Secures Offshore Wind Site Survey in German North Sea

Scottish Floating Wind Farm Secures Onshore Planning Consent

Equinor and Gwynt Glas Secure Rights to Build Floating Wind Farms off UK

Current News

Aibel to Provide Maintenance Services for Two Vår Energi’s Oil and Gas Fields

MDL Assists Saipem to Deliver Offshore Campaigns in West Africa

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Strategic Marine Delivers Fourth Fast Crew Boat to Thai Firm

Subscribe for OE Digital E‑News

Offshore Engineer Magazine