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Oceans and fisheries
News article27 July 2022Directorate-General for Maritime Affairs and Fisheries

Gazelle Wind Power Limited - Fulfilling the ambition

Gazelle Wind Power

Today, offshore wind produces clean electricity that competes with, and sometimes is cheaper than existing fossil fuel-based technology.

It is a story of undisputed European technological and industrial leadership: European laboratories and industries are rapidly developing a range of technologies to harness the power of our seas for producing green electricity, going from floating offshore wind to ocean energy technologies such as wave or tidal, floating photovoltaic installations and the use of algae to produce biofuels.

It’s very clear to the European Commission that supporting technological innovation in the offshore energy sector is paramount for a sustainable EU growth model, a decarbonised economy, and energy diversification.

The EU Strategy on Offshore Renewable Energy, dating back to November 2020, proposes to increase Europe's offshore wind capacity from its current level of 12 GW to 300 GW by 2050. And it’s not just that. Additional 40 GW coming from ocean energy and other emerging technologies such as floating wind should also be harnessed from our seas by 2050.

Across Europe, innovative companies are developing disruptive solutions and technologies to meet these goals. However, often it’s difficult for them to attract investors and access to finance.

Blue Invest, the European Commission’s initiative that aims to boost innovation and investment in sustainable technologies for the blue economy, is there to help.

Born in 2020, Gazelle Wind Power is a young Irish company founded with the aim of accelerating the transition to renewable energies by introducing the next generation of advanced offshore wind platforms.

The Gazelle Wind Power hybrid floating platform is more compact and simpler to build, deploy, and maintain than other floating platforms. Lighter than conventional platforms, it uses approximately 70% less steel and is one-third the weight of other floating platforms. Its patented technology, also significantly reduces costs making it a more affordable and accessible solution for deep water deployment.

In 2021, Gazelle Wind Power -  a start-up newly entering the market, joined the BlueInvest Readiness Assistance programme.The coaching sessions with BlueInvest enabled the company to develop its marketing and growth strategy, improving execution capacity, and facilitating access to finance. In just a  few months, the coach supported Gazelle Wind Power in identifying different financing schemes that suit the company’s objectives, as well as contacted over 30 investors.

"I’m very grateful to the BlueInvest team and our coach for assisting us. Our coach has gone the extra mile.” - Jon Salazar, Founder of Gazelle Wind Power

Following the completion of BlueInvest Readiness Assistance, Gazelle Wind Power closed its previous investment round at €2.9 million. The company  is now in contact with investors for further opportunities, taking offshore wind energy one step closer to meeting the EU Green Deal’s objectives

Gazelle Wind Power’s BlueInvest Experience: BlueInvest Community,BlueInvestReadiness Assistance, BlueInvest Pipeline, BlueInvest e-Pitch sessions, BlueInvest Day

About BlueInvest

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Publication date
27 July 2022
Author
Directorate-General for Maritime Affairs and Fisheries