SolarDuck Successfully Closes a €4 Million Funding Round with a Strong Consortium of Investors, Securing the Path to Commercialization by 2023
SolarDuck, a Dutch-Norwegian offshore floating solar company, has announced the successful close of its investment round, totaling €4 Million. The capital has been raised from existing investors and new investors.
“We have been part of this journey almost since the start and we are amazed by the quality of the team and their advancements in this short period of time” says Christian Rangen, Chairman of Norwegian based Link Venture Capital.
“We are privileged to lead the consortium of investors that allows SolarDuck to develop towards commercialization”.
The consortium consists of Venture Capitalists and strategic investors from the Renewable Energy industry. The latter will also bring in vital experience and networks that will assist SolarDuck in developing and financing projects resulting in the application of the technology.
In arranging the round, SolarDuck has been assisted by Impulse, a Corporate Finance boutique based in Utrecht, the Netherlands.
“Meeting SolarDuck for the first time, we were impressed by their technical and commercial capabilities. In raising funds we were happy to add our capabilities resulting in a successful close, allowing SolarDuck to make the impact it’s after” says Feddo Tamminga, Partner at Impulse.
The capital will be used to finalize the technical roadmap and produce the first full scale offshore floating solar powerplant with a capacity of 500 KWp, which will be located of the coast of Ostend, Belgium by the end of the year.
“We take pride in the group of shareholders that we have, all sharing the drive to change the way in which we produce our energy”, says Koen Burgers, CEO of SolarDuck. “With these funds we will be able to finalize the technology roadmap and start delivering the first solar plants, allowing our customers around the world to generate their own electricity at competitive price levels”.