Nenuphar Cashes in €15 Mln

Nenuphar SA, a Lille-based company, has secured €15 million of funding in an equity round.

The transaction has attracted participation of new investors, Areva S.A. and FCPR Ecotechnologies and an existing investor, IDInvest Partners. Each partner will individually invest €5 million in the transaction.

Nenuphar was founded in 2006 with the objective to design a vertical axis wind turbine concept and a new concept of floating wind turbine, fully optimized for deep water application.

Charles Smadja, Director of Nenuphar, said: “Joining of partners such as AREVA and FCPR Ecotechnologies allows us to take a decisive step in the development of a global leader in floating wind energy.”