06/08/2017

Ideol raises an additional €8M in financing

As floating offshore wind is about to enter into an era of commercial-scale deployment, Ideol announces it has raised over 8 million euros in new funding, welcoming in particular two major industrial players as additional shareholders.

Ideol, internationally recognized leader in the floating offshore wind market, has increased its capital including in particular two major players in the offshore and renewables sector: the German company Siem Offshore Contractors and the Japanese company Hitachi Zosen. This latest financing round also includes Amundi Private Equity Funds, subsidiary of Amundi Group, the European leader in asset management, with over €1.1 trillion under management worldwide and some of Ideol’s existing shareholders (Tertium, PACA Investissement and Conseil Plus Gestion).

Siem Offshore Contractors, an experienced global leader in offshore wind construction and a subsidiary of the Norwegian stock exchange listed Siem Offshore (SIOFF) whose fleet of over 45 high-end offshore service ships, including Anchor Handling, Cable Lay and Installation Support Vessels are particularly suited to the installation of floating wind farms.

Hitachi Zosen, a key player in the development of floating offshore wind in Japan, has been in charge of the construction of three of Japan’s five full-scale floating demonstration projects. Hitachi Zosen has been a partner of Ideol for the last two years, partnership which will first translate into the installation and commissioning of Ideol’s first Japanese floater in 2018.

According to Paul de la Guérivière, Ideol’s CEO, “The partnership agreements signed with these internationally-recognized companies give Ideol the unique capability of providing its clients with a turnkey solution on all major markets, from the engineering and construction of its patented floating foundations to their offshore installation. We believe that such global and integrated approach is rapidly becoming a true added value as the first commercial-scale projects are right around the corner. These partnerships also underline Ideol’s unique international position as the only floating technology supplier with full-scale demonstration projects in the world’s two major markets: Europe and Japan.”

The participation of a leading asset management company such as Amundi also confirms the pursued interest of the investment community for the Cleantech sector, when the offshore wind industry has represented more than €18 billion of new financing in Europe in 2016.