French Sabella, a designer of marine turbines, has raised a round of €8 million. The investment comes from the Ecotechnologies Fund, as well as Force 29, Litto Invest and other shareholders in the company including Emertec, Go capital, and Farinia group IWF.
Sabella is a pioneer in the marine energy sector, and has designed a high-powered tidal turbine, Sabella D10. This turbine has already been providing green electricity to the island of Ouessant for a few months.
The new funding will support Sabella's international expansion, particularly in Southeast Asia and North America.
"After launching in France, we expect to carry out several international projects including one in Asia, where power generation needs are necessary for economic development in certain regions. This financing gives us the means needed to deploy our solution internationally," Jean-François Daviau, President of Sabella, said in a statement quoted by Actu-Environnement.
Read more: Actu-Environnement (French)