Sodena, public venture capital initiative of the Government of Navarre has joined NABRAWIND TECHNOLOGIES, S.L. as shareholder. Sodena has committed an initial investment of 700,000 euros with agreement to a total investment of 1,167,000 euros, in addition to existing investments by other partners. The investment will allow the company to progress and further develop technology solutions for the wind power sector, improving the value chain of this sector in Navarre.
NABRAWIND TECHNOLOGIES emerged from Navarre based company NABRAWIND, S.L. The four founding partners, Odilon Camargo, Hely Ricardo Savio, Iñaki Alti Barbón and Eneko Sanz Pascual all bring extensive expertise from their respective backgrounds in engineering.
Since the company began, it has filed 12 international patent applications, positioning the company amongst those with the highest number of international patents applications in Spain. Its team currently comprises 12 members, most of them with a technical profile, highly experienced in design of innovative technology solutions for several of the major companies in the wind power sector.
The current business model of NABRAWIND focuses its efforts on products based on the most promising patents of the company. Firstly, a joint for producing modular blades for large wind turbines, enabling more efficient transportation of the blades in two or more pieces. Secondly a self-erected tower that will reduce significantly the towers construction costs and the complete installation of the wind turbine (including the rotor), without the need for cranes with a high boom configuration.
The proposed initial investment totals 3,500,000 euros, of which 2,333,000 euros corresponds to the founding partners and business partner Barinaga and Alberdi S.L., who have already invested 2,000,000 euros. Sodena will be investing 1,167,000 euros in total, with an initial sum of 700,000 euros already invested.
According to the general manager of Nabrawind, Eneko Sanz, the support of Sodena will provide a solid foundation to advance the project, in the form of economic assistance in addition to technical support in business development. ‘’We are delighted that the market has responded so enthusiastically to our products, exceeding our initial expectations.’’
‘’With this investment, Sodena is backing an innovative project that has strategic importance for Navarre; the renewable energy sector’’, adds Pilar Irigoien, General Manager of the public investment firm. ‘’We expect that the project will generate employment opportunities for highly skilled professionals and subcontracting of other businesses based in Navarre to work alongside Nabrawind to develop solutions in response to one of the most important challenges that the wind power sector is currently facing; reducing transportation and installation cost.’’
NABRAWIND is working in close collaboration with other technological centres such as CENER and CEMITEC and also with leading wind energy companies, creating synergies in the area. In the coming months NABRAWIND expects to close exclusive collaboration agreements with various businesses in the wind sector. This will ensure a manufacturing/production strategy to complement the company’s technological capacity.
About Sodena
Sodena, a public investment firm of the Government of Navarra is designed to capture and develop business projects with the potential to have a positive impact on the economy of Navarra. Sodena coordinate the design and implementation of specialized business strategies to facilitate collaboration, growth, competitiveness, regional development and creation of quality employment.
Financial support from Sodena occurs via providing capital and shareholder loans. Business projects need to be linked to Navarra with active and significant contribution to sustainable development in the region. Technical support is provided by Sodena by means of engaging and liaison with investors and businesses and providing project support and coordination to ensure the project is located in Navarra.
Currently Sodena are involved with a total of 121 business projects, of which 48 consist of direct involvement and 73 in indirect involvement through 10 specialist venture capital funds.
Find more in www.sodena.com