#Japan #Tokyo #Offshore Wind #Albatross Technology #FAWT

Albatross Technology Completes ¥250 Million Fundraising

Albatross Technology, based in Chuo-ku, Tokyo, has successfully secured a total of 250 million yen in Pre-Series B funding led by the Development Bank of Japan (DBJ) among other strategic investors. This funding contributes to a cumulative total of approximately 770 million yen raised since their seed round. The company is innovating in the field of floating offshore wind turbines (Vertical Axis Wind Turbines, or FAWT) and aims to advance their development with the support of these funds.

Investment Overview

This Pre-Series B funding includes investments from notable entities such as DBJ, Sumitomo Heavy Industries, Mitsubishi Gas Chemical, Showa Machine Trading, Albacross, Hokuhoku Capital, and several individual investors. The primary purpose of this funding will be directed towards the preparation and advancement of a large-scale offshore experimental machine, building upon the smaller prototype currently being tested in Nagasaki Prefecture. The expenses for the small-scale offshore experiment have already been secured through a collaboration with five research firms, which lays a strong foundation for future developments.

FAWT Features and Significance

As the demand for renewable energy surges, the need for new technology in offshore wind power generation is critical, especially given Japan's limited shallow marine areas. Floating offshore wind turbines that are adaptable for deeper ocean zones are essential for expanding this sector. Traditional horizontal axis wind turbines face the challenge of increasing costs due to larger floating structures and anchoring systems. Albatross Technology's FAWT aims to address these concerns through rational design principles, emphasizing structural simplification and lower centers of gravity. This innovation could significantly decrease costs while promoting domestic production capabilities in the offshore wind sector.

Comments from Investors

Various investors expressed their support for Albatross Technology's mission. Yuuki Takemori, DBJ's Director of Innovation Investment, emphasized that the FAWT technology not only seeks cost reduction for floating offshore wind power but also contributes to rebuilding the wind turbine supply chain in Japan.

Kazuyoshi Ito, head of business development at Sumitomo Heavy Industries, remarked that their partnership with Albatross Technology represents a pivotal step towards realizing carbon neutrality through renewable energy advancements.

Nobuya Saegusa, Director of Green Energy and Chemicals at Mitsubishi Gas Chemical, positioned the technology as vital for Japan's routes to carbon neutrality, citing support through material design and quality assurance expertise to strengthen commercial viability.

Showa Machine Trading's CEO, Masato Okazaki, noted their commitment as a partner to navigate future challenges collaboratively, while Yusuke Tsuzuki from Albacross conveyed continued support for the initiatives that enhance energy security in Japan.

Hiroki Kida, CEO of Hokuhoku Capital, shared their enthusiasm for investing in FAWT technology and its role in promoting renewable energy and addressing decarbonization goals.

Employment Opportunities

Albatross Technology is seeking enthusiastic professionals to join their team in advancing FAWT technology for future energy solutions. Interested candidates can apply via their corporate website.

For more information on their career openings, visit: Albatross Technology Careers.

Company Overview

• - Company Name: Albatross Technology Co., Ltd.
• - CEO: Hiroshi Akimoto
• - Location: 2-12-5 Ningyocho, Chuo-ku, Tokyo
• - Founded: Established as a limited liability company in 2012 and incorporated in July 2022.
• - Business Overview: Development of technologies for utilizing marine renewable energy.
• - Corporate Website: Albatross Technology
• - Contact Email: [email protected]

This substantial fundraising round positions Albatross Technology as a frontrunner in ushering in a new age of offshore wind energy capabilities in Japan and aligns with the global shift toward sustainable energy solutions.