IDEOL Raises EUR 10 Mln for Floating Wind Development
IDEOL has secured over 10M€ in funding this last December in order to finance its accelerated domestic and international growth.
Three new investment funds (HPC CAPITAL, PACA INVESTISSEMENT and CPG) as well as three existing shareholders (the DEMETER 3 AMORCAGE Fund, the Emergence INNOVATION 1 Fund and the IO Group) have invested 3.8M€.
7.3M€ were awarded by France’s Environment and Energy Management Agency (ADEME) for the OCEAGEN R&D project managed by IDEOL in partnership with BOUYGUES TP and the IFSTTAR Institute.
BNP Paribas and Caisse d’Epargne banks have provided an additional loan financing of 1.2M€.
These funds will enable IDEOL to build and install France’s first offshore wind turbine near Nantes and will help accelerate its international development. R&D activities will be boosted in order to increase the company’s patent portfolio and further optimize the cost competitiveness of the company’s solution.
Source: IDEOL; Image: IDEOL