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Ideol receive Kerogen funds

By: Matthew White 26/04/2018 Ideol

Foundations General

Ideol has announced signing of a €15 million capital funding round, led by private equity firm Kerogen Capital (“Kerogen”).

Created in 2010, Ideol has developed a floating foundation which aims to become a commercial solution in the developing floating offshore wind industry.

Ideol already has two floating demonstrators, built locally in France and Japan. Ideol’s patented technology is designed to operate with both current and future large-scale wind turbines.

This latest funding round secures Ideol’s long-term funding requirements. Kerogen representatives will be joining the board and aim to help Ideol’s growth efforts through its network in the international energy sector.

Established in 2007, Kerogen Capital is an independent private equity fund manager focused on the international energy sector. Ideol will represent Kerogen’s first investment in the renewable energy sector.

Alongside Kerogen Capital, existing shareholders of Ideol, including Amundi Private Equity, Sofimac Regions and Paca Investment have also agreed to subscribe new shares.

Paul de la Guerivière, CEO of Ideol, commented: “Floating offshore wind is a burgeoning, yet fast accelerating market, with several pre-commercial and commercial-scale projects announced or under development in France, Scotland, California, Japan and Taiwan. The backing of a well established and internationally recognized energy specialist like Kerogen demonstrates that Ideol is well positioned to lead and reap the full benefits of this market’s acceleration.”

Philip Jackson, Executive Board Member of Kerogen, noted: “We have been following the floating offshore wind industry for some time. Its supply chain has multiple cross-overs with where we already invest. We are firmly convinced that offshore floating wind will soon become a mainstream supplier of energy and that Ideol’s superior team and technology have a central role to play in making this happen”.

Christophe Somaïni from Amundi Private Equity declares: "We are pleased to contribute to this new step forward for Ideol after the successful construction of Floatgen in 2017 confirming our strong conviction in the technology and the management of the company."

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Ideol receive Kerogen funds

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