Ideol Secures EUR 3 Million to Advance Its Floating Foundation

Ideol has raised more than EUR 3 million in the latest fundraising round, including capital from Tertium investment fund.

The newly secured finances will be used to speed up the development of Ideol's floating wind foundation.

Ideol's floating foundation can be constructed in concrete or steel. It is designed to be compatible with existing commercial offshore wind turbines without modifications, and competitive with seabed-fixed technologies at water depths of 35-40 meters, according to the company.

In early 2015, Ideol signed its first commercial contract with Hitachi Zosen (Hitz) for the design and engineering of the foundation as well as the subsequent installation of two floating demonstrators, one in steel and the other in concrete, in Japan.

Also, in November 2015, Ideol and Group China Steel Corporation (CSC) have agreed to collaborate on floating offshore wind projects in Taiwan.

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