The Saint Nazaire-based startup Geps Techno, the developer of the MLiner independent offshore platform project, has recently adopted new financial sources with a fund raising campaign and Bpifrance grants to offer its line of products on international markets.
The MLiner, also known as the ”Swiss Army Knife Energy,” combines several sources of renewable energy – solar, wind, wave and tidal – to supply electricity to the islands, isolated areas and sites at sea.
This flagship project by Geps Techno, a young start-up established in Saint-Nazaire in 2011, has already produced one prototype, the PH4S.
For now, the company offers two product lines: independent small power platforms and ship stabilizers.
Geps Techno has now reinforced its capital with a EUR 1 million fund raising campaign among its shareholders and STX France, the preferred industrial partner of the start-up since it was established. This is in addition to a EUR 1 million grant allocated by Bpifrance to support R&D work.
The company has also hired a sales manager specialized in innovative products to help the company expand internationally. The start-up is also preparing a new fund raising campaign for EUR 2 million in 2017.