Grant will enable company to accelerate detailed design and certification process
X1 Wind has secured a €2.5M (US$3M) grant to launch its first commercial floating wind project.
The floating wind technology developer has been allocated funds through the European Innovation Council (EIC) Accelerator programme.
It was named among 38 of the most promising start-ups by the EIC after being shortlisted from 4,200 applications to receive funding to ‘develop and scale-up ground-breaking innovations’.
X1 Wind chief executive and co-founder Alex Raventos said the grant will provide resources to rapidly accelerate the detailed design and certification process of its first commercial large-scale floating wind units.
The company is currently preparing to deploy its ground-breaking 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 installed in a water depth of 50 m at the PLOCAN test site, with full exposure to open ocean conditions.
Mr Raventos said the funding was “a major vote of confidence in our technology, which has matured significantly in recent years, now offering a truly unique and disruptive form of floating wind energy.” He said the company was evaluating potential pre-commercial sites and projects, to continue driving momentum following its current demonstration project in the Canary Islands.
X1 Wind initially attracted the attention of the EIC due to its innovative take on floating wind. The firm’s technology is designed to substantially reduce the current levelised cost of energy 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 which maximises use of passive systems.
“Our next-generation floating wind platform has a unique design that scales up efficiently with increasingly larger turbines, “ Mr Raventos said.
“In addition, the platform’s modular design is highly suitable for mass manufacturing, advancing the industrialisation plans for series fabrication of floating wind.
“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.”