Rotterdam-based SolarDuck secures €15 million in funding for the development and deployment of Offshore Floating Solar power technology.
The capital has been provided by both current and potential investors. SolarDuck is committed to using offshore floating solar power to accelerate the development of a sustainable offshore energy supply. This commitment is shared by a global partnership that includes Katapult Ocean, Green Tower, Energy Transition Fund Rotterdam, and Invest-NL.
By implementing its first commercial projects, SolarDuck is able to maintain its leading position thanks to the additional funds. Furthermore, the team comprising of competent and dedicated individuals keeps refining the technology to expand globally and expedite subsequent releases.
With the help of this funding, the business will be able to build on its industry-leading position in offshore floating solar energy, complete its first commercial projects, and make a bigger impact as it works towards its 2030 target of deploying more than 1 GW of offshore solar electricity.
Koen Burgers, CEO & Co-founder of SolarDuck, said: “We are delighted to have secured this latest round of funding. SolarDuck is introducing a new asset class of energy generation. With demand increasing, offshore floating solar offers real promise for the decarbonisation of our energy supply. This successful funding round provides us with the means to continue the development and deployment of both our Team and technology.”
Jonas Svegaarden, CEO, Katapult Ocean, commented: “We are very excited to announce our increased investment in SolarDuck and to support their next phase of growth. In order to harness the blue growth opportunity, we must also endeavour to build offshore. SolarDuck represents a new category of ocean infrastructure, which has the potential to unlock significant resources towards the global renewable energy mix and to enable enhanced economics to existing offshore renewable assets”
Rik Aalders, managing director Green Tower, added: “We strongly believe that to accelerate the energy transition, a mix of different technologies should be developed to cater for the needs of different geographical regions, all with their own characteristics. SolarDuck offers a unique addition to the existing energy mix, which will open up a huge potential for further growth of renewable energy, both via standalone projects and in co-development with offshore wind. Green Tower is pleased to continue to be part of that journey together with the team of SolarDuck.”
Along with local partners, SolarDuck is supplying Japan’s first offshore floating solar plant, which will be erected in Tokyo Bay. TNB Renewables is now working on a third project in Malaysia.
Energy Transition Fund Rotterdam and Invest-NL are new investors. Ralph van Drooge, Sr. Investment Manager at Energy Transition Fund Rotterdam, added: “We are pleased and proud to support SolarDuck in their promising journey in further developing and deploying offshore floating solar around the world. This is a great addition to accelerate the energy transition and very important for the Rotterdam region because of their positive social and environmental impact.”
Since its founding in 2019, SolarDuck has secured projects all over the world and has a pipeline of over 3.5GWp. Among other projects, construction is underway on a 5 MW demonstrator project that will be erected in cooperation with RWE in the Hollandse Kust West VII offshore wind farm in the Netherlands (North Sea).