SeaTwirl will receive €2.48 million from the European Innovation Council’s SME instrument, for its innovative, floating “SeaTwirl S2” wind turbine.
SeaTwirl develops the wind turbines of the future with a robust and simple solution. The SeaTwirl S2 project (1MW turbine) has been selected by the EU as a winner in the SME Instrument program after a tough review. It was a total of 1765 applications from 35 different countries on this filing date.
– It feels great and it gives us a good recognition from the EU that the potential of our technology is very large. The SeaTwirl team has done a great job! says Gabriel Strängberg, CEO of SeaTwirl AB.
On the EU website you can read:
“The SME instrument offers Europe’s brightest and boldest entrepreneurs the chance to step forward and request funding for breakthrough ideas with the potential to create entirely new markets or revolutionise existing ones.”
The companies, selected after a review by professional assessors and personal interviews by a jury of investors, entrepreneurs and venture capitalists, receive up to € 2.5 million to finance innovation activities. SeaTwirl was granted € 2.48 million.
The grant will be used for the final phase of the S2 project and primarily for detailed design, project management, marketing and commercialization. In addition, SeaTwirl has the opportunity to benefit from EU services in business coaching and business acceleration within the program.