The NextFloat+ project has secured a ‘cornerstone grant’ of EUR13.4 million (USD14.3 million) from the European Commission’s Innovation Fund supporting the industrialisation of floating wind.
Led by a consortium formed by X1 Wind, as project coordinator, alongside Technip Energies and NextFloat Plus S.A.S, the project involves the deployment of a 6 MW floating wind platform at a test site in Mediterranean Sea. The pre-commercial prototype, called X90, comprises a lightweight floating platform with a single point mooring (SPM) and a tension leg platform (TLP), which reduces the seabed footprint impact.
The developers said that the cash injection will further advance industrialisation and scale-up of the integrated floating wind solution at 20 MW-plus scale.
“We’re thrilled to receive support from the Innovation Fund” said X1 Wind ceo and co-founder Alex Raventos. “The grant represents a cornerstone in the fundraising for the NextFloat+ Project, adding to finance already secured through the European Commission under the Horizon Europe program, finance secured through the French government as part of the France 2030 plan operated by ADEME, plus private funding from partners and shareholders. Crucially, it will provide an opportunity to drive substantial improvements in the competitiveness of floating wind as we prepare for long-term mass deployment in locations around the world.”
The NextFloat+ Project builds on the findings of the PivotBuoy project, which proved X1 Wind’s system by successfully deploying a part-scale prototype in the Canary Islands.
