Equinox Ocean Turbines, a Dutch innovator in ocean energy technology, today announced it has secured pivotal funding from the Samenwerkingsverband Noord-Nederland (SNN) Valorisatie and the European Regional Development Fund (EFRO). This investment will accelerate the development of the company’s groundbreaking ocean current technology.
The project is being undertaken in close collaboration with the University of Groningen, leveraging academic expertise to advance the technical capabilities of Equinox’s solutions. While the specific amount of the current funding has not been disclosed, the company emphasized its significance.
“This support accelerates our mission to harness clean energy from ocean currents,” a company spokesperson stated. “We extend our gratitude to our funding partners and university collaborators for believing in the potential of ocean current technology.”
This latest funding round builds on a strong foundation of investor confidence. In July 2024, Equinox Ocean Turbines successfully closed its seed funding round, raising €2.4 million. This round saw participation from notable investors including EIT InnoEnergy, Damen Maritime Ventures, NOM, FOM, Init Power, and two private investors.
The seed funding followed an initial pre-seed investment that was instrumental in developing Equinox’s foundational business model, validating its proprietary technology through rigorous third-party verification, and exploring the emerging market opportunities for clean energy baseload power derived from ocean currents. This continued financial and collaborative support positions Equinox Ocean Turbines to make significant strides in sustainable energy generation.
