Nabrawind has announced it has secured funding support from Fortescue Future Industries (FFI), a global green energy and products company.
FFI is developing a global portfolio of renewable energy and green hydrogen projects and the funding agreement, which is convertible into a minority shareholding, seeks to expand Nabrawind’s production capacity to meet growing demand from renewable projects, like those from FFI, in the coming years.
FFI CEO Mark Hutchinson said: “FFI is pleased to support the growth of Nabrawind.
“FFI values Nabrawind as a critical ally in the development of renewable energy and the green transition.
“Reducing the cost of renewable energy production is a key driver of green hydrogen adoption.
“The innovative products developed by the talented team at Nabrawind are just one of the ways to do this, both for FFI and across the market.
“We see great opportunities to help each other be successful in the future.”
Nabrawind commercializes five innovative products of great added value for wind energy: the modular blade, Nabrajoint; the self-erecting tower, Nabralift; the tripod foundation, Nabrabase; the crane-less blade installation system, Bladerunner; and a new system to install the whole wind turbine at 15 m/s, Skylift.
Nabrawind has already overcome the R&D and prototyping phase for its product portfolio. The successful market entrance of these products implies a significant growth in its business volume and the need of new investments in order to meet the increasing demand.
For this reason, the General Manager of Nabrawind, Eneko Sanz, highlights that “after the technical, production capacity and entry into the market challenges, our next steps are market consolidation and financial capacity for facing the expected growth. Our partnership with FFI reinforces us in both strategic lines, with very similar culture values and vision about the ecological transition”.
In this regard, Nabrawind’s strategic plan includes both organic growth in all the company areas and inorganic growth by key alliances or joint ventures with other stakeholders all over the world, from IPPs, OEMs and relevant suppliers or industrial partners.
This is the path that Nabrawind already set in its previous stages, from which was born Navassy, a joint venture formed with the specialized partners Comansa and Tetrace. Navassy was set up a couple of years ago for the on-site installation of the Nabralift self-erecting tower that Nabrawind commercializes worldwide. In this sense, Navassy recently validated the new self-erecting system in the tallest wind turbine in Africa, with wind gusts up to 15 m/s, in a new wind farm of its early adopter Innovent.
For this important deal, Nabrawind was advised by ARPA Abogados Consultores and KPMG.
