Dutch-Norwegian cleantech firm SolarDuck bags €15M for its offshore floating solar power tech

SolarDuck, a Dutch-Norwegian cleantech company, announced that it has secured €15M in additional funding to advance its Offshore Floating Solar power technology.

The funds will be used to execute SolarDuck’s first commercial projects and work towards its target of deploying over 1 gigawatt of offshore-generated solar electricity by 2030.

Investors supporting SolarDuck

The investment comes from a mix of existing and new investors, forming an international consortium that includes Katapult Ocean, Green Tower, Energy Transition Fund Rotterdam, and Invest-NL. 

This diverse group shares SolarDuck’s dedication to advancing sustainable offshore energy through floating solar power.

Jonas Svegaarden, CEO of Katapult Ocean says, “We are very excited to announce our increased investment in SolarDuck and to support their next phase of growth. To harness the blue growth opportunity, we must also endeavour to build offshore.”

“SolarDuck represents a new category of ocean infrastructure, which has the potential to unlock significant resources towards the global renewable energy mix and to enable enhanced economics to existing offshore renewable assets.”

“Electrifying the world with Offshore Floating Solar”

Founded in 2019 by Koen Burgers, Ewoud Huiskamp, Don Hoogendoorn and Olaf de Swart, SolarDuck offers an Offshore Floating Solar solution.

The company addresses the rising demand for offshore energy by offering adaptable Offshore Floating Solar (OFS) technology. Suited for wind-scarce yet sun-rich regions, it can stand alone or be integrated with offshore wind projects, exemplified in the Dutch North Sea. 

SolarDuck aims to replace fossil fuel sources, enabling independent renewable energy supplies for islands and countries.

The company, with a robust pipeline exceeding 3.5GWp, has secured global projects, including a 5MW demonstrator at the Hollandse Kust West VII wind park in the Netherlands (North Sea) in collaboration with RWE, making it the largest hybrid floating solar plant. 

Additionally, SolarDuck is also delivering Japan’s inaugural offshore floating solar plant in Tokyo Bay and partnering with TNB Renewables for a project in Malaysia. 

The upcoming ‘Merganser’ offshore demonstrator project, set to launch early next year in the Dutch North Sea, further solidifies SolarDuck’s commitment to pioneering offshore floating solar technology.

Capital utilisation

Co-founder Burgers, says, “We are delighted to have secured this latest round of funding. SolarDuck is introducing a new asset class of energy generation.”

“With demand increasing, offshore floating solar offers real promise for the decarbonisation of our energy supply. This successful funding round provides us with the means to continue the development and deployment of both our Team and technology.”