Gazelle Wind Power raises $4 million for offshore platform

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Gazelle Wind Power Limited has raised $4 million toward the development of its hybrid floating offshore wind platform. The investment includes $1.3 million in seed funding and $2.7 million in long-term financing that will be used to develop Gazelle’s first grid-connected demonstrator.

Investors include Spanish businessman Valentin de Torres-Solanot del Pino, as well as Peter Murphy and Zach Mecelis, co-founders of Covalis Capital.

Gazelle Wind Power Limited’s hybrid floating platform surmounts the current barriers of buoyancy and geographic limitations while reducing costs and preserving fragile marine environments. (Courtesy: Gazelle Wind Power Limited)

“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,” said de Torres-Solanot del Pino.

The Dublin-based company’s hybrid mooring platform is designed and engineered by naval engineers to enable floating offshore wind production in deeper waters farther out at sea. The patented design allows for a 70 percent reduction in the weight of steel, while delivering a stable platform with a tilt of less than one inch, together with a 30 percent cost reduction compared to other floating wind platforms.

Gazelle recently named a group of energy industry veterans to its board of directors, including leading global policymakers, government officials, engineers, and CEOs. The board includes Javier Canada (current CEO of Highview Power); Jon Salazar, a former senior advisor with Deloitte; Pierpaolo Mazza, formerly of GE Power Generation; Connie Hedegaard, Denmark’s former environment minister; and David Mesonero, who was CFO at Siemens Gamesa Renewable Energy.

More info www.gazellewindpower.com