Nabrawind Technologies strengthens its market entry position with a capital increase of €1,175,000
Nabrawind Technologies completed last month a capital increase of €1,175,000 with the recent entry of Basarro 2005 S.L. in its shareholding, which joins Nabrawind SL, Barinaga&Alberdi SA and Sodena SL. In the same operation, EIT Innoenergy, which collaborates with Nabrawind technologies since 2018, increased its support to the project and agreed to join the shareholding.
This new round complements the second contribution made by the initial partners in 2018 that amounted to 1.5 million euros.
Shortly before closing this operation, the Spanish company also received a grant from the Horizon 2020 SME Instrument program for a value of 1.7 million euros. Therefore, the financial situation of Nabrawind Technologies has considerably strengthened and allows the company to face with guarantees the market entry phase that started this very same year.
After the prototypes phase in 2018, it was recently announced that in 2020 Nabrawind will also install the tallest tower in Africa (144m high). Nevertheless, and according to its development plan, the Spanish team is already working on self-erecting towers that exceed 200m high, which will become a global “wind roof”. Likewise, very advanced contacts are being maintained with the main players of the wind sector for the installation of their two solutions, both modular blade and self-erecting tower, planned for 2020 and 2021.
Eneko Sanz, General Manager of Nabrawind Technologies, stresses that “the profile of the new partners has prevailed. One of them with a deep presence in Navarre and recognized industrial trajectory, the other one with an outstanding knowledge of the wind sector. Their presence will provide additional added value, beyond mere financial support, which is also important.”
About Basarro 2005 S.L.
Basarro is an investment company of Navarre capital. Established in 2005 by the Arguiñano family in order to diversify investments, it took force starting in 2015 after the exit of the shareholding of the family business Papeles El Carmen. It seeks stability, permanence in the capital and to encourage the development of local companies.
About EIT Innoenergy
EIT InnoEnergy is the Innovation engine for sustainable energy across Europe. We support and invest in innovation at every stage of the journey – from classroom to end-customer. With our network of partners we build connections across Europe – together we accelerate the development of market-ready solutions, and create a fertile environment in which we can sell the innovative results of our work.
Sodena, Sociedad de Desarrollo de Navarra, S.L. is the instrument of the Government of Navarra to capture and develop value-added business projects for Navarra, as well as coordinate the design and implementation of the Regional Smart Specialization Strategy that promotes collaboration, growth and competitiveness, contributing to regional development and Creation of quality employment.
Financial support for business projects, both locally sourced and attracted from abroad, is mainly through equity participation and participatory loans. These projects must be linked to Navarra, contributing actively and significantly to the balanced and sustained development of the region. Technical support is done through coordination, accompaniment and liaison with investors and companies, providing any support they may need to decide to locate their projects in Navarra.
It currently participates in a total of 170 business projects, of which it does so directly in 93 and 77 indirectly, through 12 specialized venture capital funds in the sector.