Aikido Technologies, a San Francisco, CA-based floating wind startup whose technology lowers costs, reduces fabrication timelines and brings serial production to the floating wind sector, closed a $4m seed funding round.
The round was led by Azolla Ventures with participation from Propeller Ventures, Sabanci Climate Ventures, Cisco Foundation, Anthropocene Ventures, and others.
The company intends to use this capital to advance its technology for offshore deployment, build its team, and develop a commercial pipeline. The company is currently supported by Breakthrough Energy Fellows, which is funding Aikido’s first pilot deployment, the Aikido One.
The core of Aikido’s technology is a platform for floating offshore wind turbines that slashes project costs and enables floating offshore wind projects to become economic. Key features of the platform include a) pin joints that enable serialized production of its 13 major steel components; b) a design that allows it to fold up during assembly, occupying 2/3 less space in a shipyard or quayside port facility; c) a fit-for-purpose, re-usable assembly structure that enables the quick placement, alignment, final assembly, and transport; and d) an upending procedure that only requires water ballast.
Led by CEO Sam Kanner, the company is currently building its inaugural Aikido One platform with its fabrication partner Morrison Energy in Harvey, Louisiana. Once completed, the company plans to demonstrate its technology in the Gulf Coast in Fall 2024.
FinSMEs
20/06/2024