GEV Wind Power, the UK wind turbine blade maintenance specialist, is set for another year of continued growth.
The company is now in “an excellent position to support their expanding order books for both North America and EMEA”.
This follows the successful fundraise of £1.2 million from large grant applications from both the UK and Europe plus a further input from their investment partners.
The total grant fundraise for over £500,000 will see the development for offshore application of the innovative and patented GEV Ventura Habitat: a field deployable temporary environment to facilitate blade maintenance in inclement conditions.
“Demand for the Habitat solution is increasing through interest from industry leading manufacturers, together with deployment on our own USA based projects,” said Alastair Gadney, Director of Research and Development Projects at GEV Group.
“More than 65% of our projects are currently deployed offshore and developing the Habitat for this environment will be a natural progression.”
He added: “Innovate UK and Horizon 2020 grants help to match our existing significant R&D budget and are crucial to support SME’s like ourselves in helping to drive down the cost of energy.”
The need for infrastructure expansion in the USA is brought about by a significant increase in demand for utility scale turnkey blade maintenance solutions.
GEV is one of the few ISP’s capable of supporting such technically demanding scopes of work and who is prepared to make the necessary investment to support the activity.
“The geographic split of all our projects in USA requires that we invest in our infrastructure appropriately to ensure that our client projects are executed well,” said MD David Fletcher.
“To scale up and meet the growth potential of our USA business requires a significant financial commitment and it has been encouraging that we have been able to access our existing investor group to support this further expansion in a key geographical market for our wind division.”