Aikido Technologies, a California-based floating wind technology developer, has secured US$4 million (approx. EUR 3.7 million) in seed funding to develop its platform technology and launch pilot projects.
The funding was led by Azolla Ventures, with participation from Propeller Ventures, Sabanci Climate Ventures, Cisco Foundation, Anthropocene Ventures and others.
Aikido said it would use the funding to upgrade its technology, build its team and develop its commercial pipeline for offshore expansion.
“To achieve the decarbonization targets set by offshore wind pioneers, including the US, UK and other countries in Europe and Asia, floating wind needs to be commercialized within the next decade. We believe our technology suite will be a game changer in reducing costs, simplifying logistics and increasing throughput of floating wind systems.” Said Sam CannerCEO of Aikido Technologies.
At the core of the company’s technology is a floating offshore wind turbine platform, which is said to significantly reduce project costs and make floating offshore wind projects economical.
The company is currently backed by Breakthrough Energy Fellows, who are funding Aikido’s first pilot deployment, Aikido One.
In April of this year, a California-based floating wind technology development company awarded a contract to Chet Morrison Contractors, a Louisiana-based energy services company, to manufacture a quarter-scale 100kW floating wind platform.
Morrison will build the platform at its Harvey, Louisiana facility, with work expected to occur in the second and third quarters of this year, after which Aikido will begin its testing program.
ADVERTISING ON OFFSHOREWIND.BIZ
Capture your target audience’s attention in one easy move. OffshoreWIND.biz is read by thousands of offshore wind professionals every day.
Follow offshoreWIND.biz:
