X1 Wind, a floating wind technology developer, has closed its fourth strategic funding round. The round was led by Grow VP, which will acquire around 8% of the company's share capital, while Avançsa will acquire a similar stake. The round also included the conversion of instruments previously provided by existing shareholders, including Technip Energies, EIC Fund and CDTI Innvierte.
The funding will support X1 Wind as it moves from technology validation towards commercial deployment. The company is advancing the NextFloat project, which involves deploying its X100 8.5 MW floating platform at the PlemCat test site in Catalonia, Spain. The site has received environmental impact assessment approval, with manufacturing of the platform expected to begin in 2027.
X1 Wind's technology combines a tension-leg platform design with features of semi-submersible structures, with the aim of reducing costs while maintaining stability and limiting environmental impacts.
