French-based engineering and technology company Technip Energies has acquired a 16.3% stake in X1 Wind, a Spanish renewable energy startup that has designed what is said to be an innovative and disruptive offshore wind turbine floater with major environmental and operational benefits.
The value of the investment has not been disclosed. The deal will also see Technip Energies support X1 Wind’s management through its participation in joint technical and commercialisation committees and bring its engineering capabilities, offshore project execution and industrialisation know-how to carry the X1 Wind concept to commercial application. The aim is to include the technology in Technip Energies’ floating offshore wind offering.
“Technip Energies is the lead investor in this funding round, which also counts with the participation of the European Commission-owned European Innovation Council (EIC) Fund, advised by the European Investment Bank (EIB), and some of X1 Wind’s previous shareholders. Under the terms of the agreement, Technip Energies will hold two of the nine seats on X1 Wind’s board of directors,” the company said.
The X1 Wind concept is based on a tension leg platform mooring with a weathervaning system and a downwind turbine. The design allows for a lighter floater design with a significantly reduced steel requirement and a more efficient and restricted mooring system, minimising the impact on the seabed. It is scalable for turbines of more than 15 MW, Technip Energies explained.
Willy Gauttier, Technip Energies vice president for floating offshore wind, commented: “With this investment and collaboration, Technip Energies demonstrates that it is not only addressing today’s floating offshore wind market with its current semi-submersible technology, it is also preparing the future with this promising design to become the leader of the next generation of floaters. Thanks to our offshore project execution and experience in developing technical concepts all the way to commercialization, we are confident that X1 Wind will be a great addition to Technip Energies’ portfolio of technology solutions in the near future.”
