Zürich, Switzerland: Cleantech venture capital pioneer Emerald Technology Ventures announced Thursday that it has led an investment into wind technology startup eologix. The €6 million infusion strengthens Emerald’s position in a fast-growing segment of the energy transition, one that is growing more complex as turbines become larger and more widespread. Emerald limited partners Nabtesco Ventures and ORLEN VC and existing eologix backer Phoenix Innovation Ventures also participated in the round.
Austria-based eologix produces sensors that ensure smooth, reliable and efficient wind turbine operation. Able to detect small changes in temperature, ice formation and other factors, the sensors reduce turbine downtime, boosting output and simplifying repairs and maintenance. This can improve the turbine’s overall yield, allowing it to generate more power in a given time frame than it might otherwise. The company has installed more than 700 sensor kits since its founding—a reflection of its robust position in a challenging sector.
Wind energy is poised to become a centerpiece of global climate efforts. The global market for onshore and offshore wind is expected to more than double from roughly 800 GW in 2021 to 1,900 GW in 2030. Many turbines will operate in cold, harsh environments, raising the stakes for the kind of performance monitoring Eologix provides. The new capital will help accelerate the company’s product development, grow its headcount and boost its international expansion, particularly to the US.
Emerald’s strength in identifying promising new innovations has attracted support from across the industrial landscape. Its partnerships with ORLEN VC (corporate venture capital fund of Poland-based PKN ORLEN) and Japan-based Nabtesco are helping to move the needle on the conglomerates’ sustainability and green technology efforts.
“Wind is an inexhaustible resource that we must harness in order to meet urgent climate goals,” says Charles Vaslet, Emerald Senior Partner. “We are excited to support the eologix team and see great potential in further developing the business into other areas of automated condition monitoring.”
“If we want to drive the energy transition, we need to make renewable energy more attractive and profitable,” says Thomas Schlegl, CEO and co-founder of eologix. “This signal of confidence in our solutions from our investors will help us increase the performance of wind turbines around the world.”