Ideol raises €15 million to finance the acceleration of its international development
Ideol is pleased to announce the signing of a €15 million capital funding round, led by private equity firm Kerogen Capital (“Kerogen”), a leading energy specialist investor based in Hong Kong and London.
This latest investment further establishes Ideol as one of the clear global front-runners in floating offshore wind. Created in 2010, Ideol has developed an industry-leading and internationally recognized floating foundation which promises to quickly become one of the most significant commercial solutions in the rapidly developing floating offshore wind industry. Ideol is already at an advanced stage of deployment with two floating wind demonstrators, built locally in France and Japan (two key markets). Ideol’s patented technology is designed to operate with both current and future large-scale wind turbines and to be the most cost-competitive solution in the floating offshore wind market.
At closing this latest funding round secures Ideol’s long-term funding requirements. It will accelerate the commercialisation of Ideol’s market-transforming solution in key geographies at a time when floating offshore wind is at an inflection point. Kerogen representatives will be joining the board and further boost Ideol’s growth efforts through its extensive network in the international energy sector.
Established in 2007, Kerogen Capital is an independent private equity fund manager dedicated to the international energy sector, with over $2 billion in assets under management and already invested in multiple offshore oil and gas projects. 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, underlining the continuing support of Ideol’s historic shareholders and their strong belief in Ideol’s future growth potential.
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 ».