FPP Raising EUR 10 Million to Advance Its Hybrid Wind-Wave Technology
Danish company Floating Power Plant (FPP) has embarked on a EUR 10 million capital raise, supported by the company Johnston Carmichael.
“Pushing forward on our strategy for commercialization, preparing our technology and our joint venture projects with DP Energy in Scotland and Wales,” FPP stated on its social media pages.
In November 2016, DP Energy and FPP entered a joint venture, looking to set up pilot demonstration projects featuring FPP’s hybrid wind-wave technology at two sites, one in Scotland and one in Wales.
The companies will evaluate and develop the sites, subject to the outcomes of the evaluation. Should everything go as planned, the projects could be up and running by 2020.
Offshore WIND Staff