Spain – Technip Energies has purchased a 16.3% stake in X1 Wind, a renewable energy startup that has developed an innovative and disruptive offshore wind turbine floater with significant environmental and operational benefits.
With the participation of X1 Wind’s previous shareholders, the European Commission-owned European Innovation Council (EIC Fund), advised by the European Investment Bank (EIB), and other investors, Technip Energies serves as lead investor in this funding round. Technip Energies will have two seats on X1 Wind’s Board of Directors under the terms of the agreement.
Technology offering
Technip Energies has signed an operational agreement with X1 Wind to support the company’s management and bring its engineering capabilities, offshore project execution, and industrialization know-how to help bring the X1 Wind concept to commercial application, with the goal of incorporating the pioneering technology into Technip Energies’ floating offshore wind (FOW) offering.
An upwind turbine and a weathervaning system combine to form the X1 Wind FOW’s TLP mooring. To reduce the weight and reduce the impact on the seabed, the design incorporates a more efficient and restricted mooring system. Large offshore wind farms can take advantage of its cost-effectiveness and scalability by installing turbines with a rated output of 15 MW or more.
