Modvion was founded with support from Chalmers Ventures and will collaborate with Chalmers University of Technology to construct a prototype wind electricity tower made from laminated timber near Gothenburg.
Modvion, a Sweden-based manufacturer of timber materials for wind turbine towers, has obtained £430,000 ($548,000) in a round backed by Chalmers Ventures, the investment and incubator arm of Chalmers University of Technology, New Civil Engineer reported today.
Founded in 2015, Modvion supplies laminated timber-wood panels that can be used in place of steel to construct modular wind turbines towers up to a height of 150 metres.
The capital will help Modvion bolster its headcount as it looks to complete its first prototype wind tower near Gothenburg in Sweden, with assistance from Chalmers University’s Swedish Wind Power Technology Centre.
Modvion believes its approach could reduce a 150-metre turbine structure’s CO2 footprint by around 2,000 tonnes compared with the typical steel-clad equivalent.
The business was founded with support from Chalmers Ventures and participated in the 2016 iteration of the MassChallenge accelerator.
Otto Lundman, chief executive of Modvion, said: “This has enabled Modvion to strengthen our team. Something that is very timely at a time when we want to start the certification of our construction and together with the Swedish Wind Power Technology Centre set up our first energy-generating prototype.”
