Vestas invests in wooden wind turbine tower startup

Posted at February 19, 2021 » By : » Categories : News » Comments Off on Vestas invests in wooden wind turbine tower startup

Vestas‘ venture capital arm, Vestas Ventures has today announced it will invest in the wooden wind turbine tower startup Modvion.

A few months ago, the Gothenburg-based engineering and industrial design company was awarded a €6.5 million (£5.8m) grant by the European Union’s EIC Accelerator programme for its development.

The wooden tower, made from laminated veneer lumber (LVL), a bio-composite material sourced sustainably from a supplier network, is claimed to reduce carbon emissions by 80% for the wind turbine tower, compared to conventional steel towers.

Lisa Ekstrand, Senior Director and Head of Sustainability at Vestas, said: “Cultivating cutting-edge technologies, such as Modvion’s LVL towers, can pave the way for building scale sustainably, particularly as the towers can integrate with our modularisation strategy.”

Otto Lundman, Chief Executive Officer of Modvion AB, said: “To tackle the climate crisis, we need more renewable energy and increased use of sustainable, wooden constructions, and Modvion’s technology enables both.”

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