Gazelle Wind Power Ltd. has raised $4 million in funding to accelerate the development of its hybrid floating offshore wind platform. The Gazelle platform 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.
Gazelle Wind Power’s hybrid attenuated mooring platform is designed and engineered 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 degree together with a 30% cost reduction compared to other floating wind platforms.
Investor participation included Spanish businessman and E2IN2 founding partner Valentin de Torres-Solanot del Pino, along with Peter Murphy and Zach Mecelis, co-founders of Covalis Capital.
This post appeared first on North American Windpower.