Port Talbot-based eco energy company Crossflow Energy has launched the investment and commercialisation phase for its new wind turbine project.
The launch follows successful test results which have helped to secure overseas investment to support the company’s commercialisation phase.
The proof of concept turbine has been supported with £1m funding from the Welsh Government.
A successful £1.2m funding round for Crossflow Energy closed in January 2017, with about 90 per cent of this being inward investment from the Rassmuss Family and Pacific & Orient, overseas investors based in South American and Malaysia respectively.
Crossflow now plans to combine its innovative Crossflow Turbine with solar and storage technologies.
The launch of the commercialisation phase was attended by leading industry figures and funders including Crossflow founder Anthony Fenwick-Wilson; David Rees AM; Jim Barry, Crossflow chief executive, and Professor Mark Cross, Crossflow chairman.
Fenwick-Wilson said: “The prototype turbine was delivered with grant support from the Welsh Government and significant input from Swansea University. This project has proven the Crossflow concept and delivered excellent practical results.
“These results have helped us to leverage new investment from overseas, to take us forward to the commercialisation phase of the business.”