Gazelle Wind Power, a developer of floating offshore wind platforms, has raised €11 million in a funding round led by Indico Capital Partners to support the development of its 2MW demonstrator project, Nau Azul, in Aguçadoura, Portugal. Additional investors in the round include DST Group, August One, Wah Kwong, and E2IN2.
The company aims to address key challenges in floating offshore wind, including high production costs, supply chain logistics, and environmental impact. Gazelle's platform design features a patented dynamic mooring system intended to stabilize the platform in response to wind, waves, and tides, while a lightweight, modular design enhances scalability and cost efficiency.
Gazelle's technology, which avoids the use of active ballasting systems, allows for adaptable configurations suitable for deep-water locations. The modular structure can be assembled near the wind farm site, which the company says reduces both cost and environmental impact.
Stephan de Moraes of Indico Capital Partners noted that Gazelle's modular design could significantly cut costs for offshore wind installations, while José Teixeira of DST Group emphasized the project's alignment with DST's focus on advancing sustainable energy solutions. Gazelle's expansion includes a new office in Viana do Castelo, Portugal, to coordinate engineering, technical, and administrative operations, as well as to establish local supply chain networks.
The funding round supports Gazelle's objective to make floating offshore wind more affordable and accessible, advancing the company's contributions to the renewable energy transition.
