Tertium joins €3m fourth funding round for Ideol

Alice Tchernookova
31 May 2016

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Marseille-based wind farm equipment business Ideol has gathered a €3m fourth round of funding, including previous investors and new backer Tertium Investissements.

Previous investors Turenne Capital, Sofimac, Demeter Partners and FIP Entrepreneurs Capital 3 also contributed to the round.

Tertium is a venture capital fund raised from Cepag, AG2R La Mondiale and more than 20 entrepreneurs from France's Provence-Alpes-Côte d'Azur region.

The new round of funding will help Ideol support the construction of demonstration products in Europe and Asia – including France's first sea windmill – and prepare its progressive roll-out.

Since its creation in 2010, Ideol has gathered in excess of €10m in funding, €6m of which is equity. It recorded revenue for the first time in 2015 thanks to a project in partnership with Japan.

Previous funding
In 2015, new backers Conseil Plus Gestion (CPG), HPC Capital and Turenne took part in a €3.8m round. Turenne invested via the Paca Investissement fund. Previous backers Demeter, Sofimac and Eric Petitjean's family office reinvested as well. Demeter used the Demeter 3 Amorçage vehicle, and Sofimac the Emergence Innovation 1 fund.

Demeter, Sofimac and Soridec provided Ideol with €7m of funding in May 2013. In June 2011, Oséo, private investors and the French Ministry of Higher Education and Research provided a first round of financing for the business, securing a minority stake for €1m.

Company
Founded in 2010, Ideol designs and produces floating foundations for offshore wind farms, with the aim of reducing the costs of offshore wind power.

In 2015, it initiated a collaboration with China Steel Corporation aiming at designing, engineering and constructing floating offshore wind turbines for the Taiwanese market, as well as an international cooperation with Japan. Ideol is also contributing to the Floatagen floating windmill project near Saint-Nazaire, supported by the European Union.

Having started with two employees, Ideol currently counts 50 staff members. It is based in La Ciotat, near Marseille, and has established partnerships with multinational groups such as Areva, Bouygues and ChinaSteel.

People
Tertium Investissements – Florence Canonge (associate).