X1 Wind gets funds for floating wind technology development
June 24, 2021
X1 Wind has secured €2.5 million ($3 million) through the European Innovation Council Accelerator program to launch its first commercial floating wind project.
BARCELONA, Spain – X1 Wind has secured €2.5 million ($3 million) through the European Innovation Council Accelerator program to launch its first commercial floating wind project.
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 CEO 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 PivotBuoy technology at 1:3 scale in the Canary Islands after completing the assembly and load-out. The fully functional (X30) prototype is equipped with a Vestas V29 turbine and will be stationed at a 50 m (164 ft) water depth at the PLOCAN test site with full exposure to open ocean conditions.
The company’s technology is designed to substantially reduce the current levelized cost of electricity 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 is said to maximize use of passive systems.
