X1 Wind has announced the successful closing of its fourth strategic funding round. The operation was led by Grow Ventures, which assumes around 8% of the share capital, and features the strategic entry of Avançsa, acquiring a similar share.
Furthermore, the round included the conversion of instruments previously provided by existing investors, including Technip Energies, EIC Fund, and CDTI Innvierte. This reflects the commitment to the project of the current partners, as well as the strategic entry of Grow VP and Avançsa into X1 Wind’s shareholding structure.
The round brings together venture capital, public investment, and existing shareholders to support X1 Wind as it moves from technology validation towards commercial deployment. This transition is already underway as the company advances the NextFloat Project—which will see the deployment of its X100 8.5MW platform at the PlemCat test site (EIA-approved) located in Catalonia, Spain, with manufacturing expected for 2027. Preparing for the subsequent commercial rollout, the company already holds contracts for the scaled-up X150 version (15-20MW) across major projects in Europe and Asia, building on the calculation methodologies validated within the X100 certification.
Alex Raventós, CEO & Co-founder of X1 Wind, said:
“This new backing validates our future vision and the robustness of our technology. With the support of Grow Ventures, Avançsa, Technip Energies, the EIC Fund, Innvierte, and our current shareholders, we are in an excellent position to focus our efforts on executing our pilot project and accelerating the commercialization of our design. This brings us one step closer to making floating offshore wind cost-competitive globally.”
X1 Wind’s technology is designed to solve major industry challenges by combining the stability and low environmental impact of a Tension-Leg Platform (TLP) with the cost-efficiency of semi-submersible structures. A key environmental advantage of X1 Wind’s TLP mooring system is its drastic reduction of the seabed footprint and noise compared to traditional catenary lines, thanks to its vertical mooring lines. This minimal impact allows the platform to coexist with vital marine activities, such as fisheries. Additionally, the avoidance of chains and the use of vertically tensioned synthetic mooring lines avoids dragging the seabed and minimizes underwater noise, supporting better integration with marine fauna.
Francisco Badia, Founding Partner at Grow VP, commented:
“X1 Wind brings together the key elements we look for when investing in deep tech: a highly experienced team with values, a differentiated and protected technology, and the potential to transform a large global market. We are delighted to lead this round and support the team as it moves from technological validation towards commercial deployment.”
Beyond its environmental benefits, X1 Wind’s technology is driven by cost efficiency. The company’s lightweight platform design enables up to a 50% CAPEX cost reduction when compared with pre-commercial floating wind projects recently installed in Europe. Furthermore, other key innovations, such as the proprietary Quick Connector System, enable connection and disconnection operations in just one day. This coupling mechanism reduces hook-up times by over 80% when compared to pre-commercial projects already installed worldwide, significantly optimizing operational costs and accelerating large-scale deployment. Such drastic cost reductions are fundamental to make the floating wind industry competitive and a reality in Europe and worldwide, and to make it a major contributor to the energy transition.
Natalia Clua i Vives, Director of Projects and Innovation at Avançsa, stated:
“At Avançsa, we are pleased to support X1 Wind alongside Grow, joining a project so strategic for its impact, growth potential, and relevance to Catalonia. We are particularly proud to support a homegrown Catalan company developing such an innovative technology that can be exported worldwide and make a major impact in the energy transition. This is very well aligned with our mission to support business projects with a clear capacity to generate economic and territorial value.”
