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Seatower

Early Stage Startup





Tagline

Low-cost foundations for 6MW+ offshore wind turbines – the new segment

Video



Elevator Pitch

Seatower offers foundations for offshore wind turbines reducing both cost and risk in a fast growing cost-focused market. (Market size: €15bn in 2015-2020)

Offshore wind is moving to bigger turbines in deeper waters, challenging today's foundations on both cost and logistics. Seatower replaces expensive installation vessels with cheap tug boats and expensive steel piles with self-floating steel/concrete structures. In sum this means low cost, low risk and high flexibility. A recent cost-analysis by MEC found Seatower to be clearly cost leading for the new large turbines expected to dominate the market going forward.

The foundations are optimised for mass production using local contractors at low-infrastructure construction sites. Thereby the up-front capex requirement is also low for our customers and partners. The technology is certified by DNV, and we have a strong portfolio of patents and methodologies.

Our first foundation was successfully installed in February 2015, and we have good traction in several projects under procurement. Our business model and partnership structure makes it possible to capture the opportunity with low capex.

Our team has extensive offshore experience, a track record of building and exiting a previous offshore company, and a valuable network of partners and specialists.

Product

Our technology is Cranefree - self-floating and self-installing concrete-and-steel gravity based foundations, built locally and installed by tug boats. It avoids expensive crane vessels, is designed for mass production and minimizes the customers' cost and risk across the value chain.

The Cranefree foundations have air inside during transportation, which means that they can float and be towed to the installation site, rather than to be transported on ships. Furthermore, they are installed by letting sea water in and thereby lowering them to the seabed. In this way, no expensive offshore heavy-lifts are required. For a summary of the benefits of the Cranefree approach, please see this video: www.youtube.com/watch?v=1Ib...

According to Beatrice Buffon (Deputy CEO responsible for offshore wind at EDF Energies Nouvelles): "This is innovation – a gravity based foundation, weighing several thousand tonnes, that you can transport by floating it. Small vessels can be used instead of the huge installation vessels with big cranes, which decreases the price of installation dramatically. The Cranefree Gravity foundation concept has been developed by Seatower, a Norwegian Company, but financed by EDF EN and the Region. This will help driving the costs of offshore wind down." (www.offshorewind.biz/2015/0...)



Why we are ecofriendly

On a general level, we reduce the LCOE of offshore wind, thereby increasing competitiveness of renewable energy. Within our market, we are also more eco friendly than competing technologies. We avoid the pile hammering that is used for most foundations today, which harms marine mammals and disturbs marine life (for instance preventing fish from spawning). We also avoid dredging of the seabed, which is an intervention into the very important biotope in the top soil.

Latest News

In February 2015, Seatower's Cranefree Gravity technology was demonstrated at the Fécamp Offshore Wind Farm site off the coast of Normandie, France. The €10 million demonstration was a cooperation between EDF Energies Nouvelles, DONG Energy and WPD Offshore (developers of the site) and Seatower, Eiffage and Jan De Nul (the contractors). The demonstration was highly successful, with the technology working as predicted and outperforming requirements. For instance, verticality was achieved to within 0.1 degrees (0.5 degrees required).

Video: www.youtube.com/watch?v=Ee2...

See also:
www.offshorewind.biz/2014/0...
www.offshorewind.biz/2015/0...

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Version History

2016-03-31 09:22:11 - changed investors to 'Founders/employees/Board Members Fund managed by Idinvest Partners Leif Moger (founder of AF-Gruppen)'

2016-03-31 09:21:46 - changed fundraising to 'MEUR 2-3'

2016-03-31 09:18:44 - changed capitalraised to 'MEUR 5'

2016-03-31 09:18:18 - changed video to 'https://www.youtube.com/watch?v=Ltt6tfapzK4'

2015-09-25 13:21:04 - changed productpitch to 'Our technology is Cranefree - self-floating and self-installing concrete-and-steel gravity based foundations, built...'



Website


Revenues

2014:
€647000

Fundraising

MEUR 2-3

Capital Raised

MEUR 5

Grants Raised

MEUR 2.3

Employees

5

Investors

Founders/employees/Board Members
Fund managed by Idinvest Partners
Leif Moger (founder of AF-Gruppen)

Customers

DONG Energy
EDF Energies Nouvelles
wpd Offshore






Country of Origin

Norway

Founded

2008



Team


Contact Person

Petter J. Karal, CEO

Headquarter

Oslo, Norway