Technip Energies invests in floating offshore wind company X1 Wind

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Technip Energies, an engineering and technology company for the energy transition, has acquired a stake in X1 Wind, a renewable energy start-up.

Technip Energies is the lead investor in this funding round, which also counts with the participation of the European Commission-owned European Innovation Council (EIC) Fund, advised by the European Investment Bank (EIB), and some of X1 Wind’s previous shareholders. Under the terms of the agreement, Technip Energies will hold two of the nine seats on X1 Wind’s Board of Directors.

This strategic investment is supplemented by an operational agreement whereby Technip Energies will support X1 Wind’s management through its participation in joint technical and commercialisation committees and bring its engineering capabilities, offshore project execution and industrialisation know-how to carry the X1 Wind concept to commercial application, with the aim to include the pioneering technology in Technip Energies’ floating offshore wind business.

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Willy Gauttier, Technip Energies Vice President for Floating Offshore Wind, commented: "With this investment and collaboration, Technip Energies demonstrates that it is not only addressing today’s floating offshore wind market with its current semi-submersible technology, it is also preparing the future with this promising design to become the leader of the next generation of floaters.

"Thanks to our offshore project execution and experience in developing technical concepts all the way to commercialisation, we are confident that X1 Wind will be a great addition to Technip Energies’ portfolio of technology solutions in the near future."

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