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Gresham House plc

New funds power wood tower concept

Swedish start-up Modvion has secured €500,000 in early stage financing to develop a modular wooden tower for supporting multi-MW turbines.

Modvion’s product is a modular wind power tower made of laminated wood, designed for altitudes of over 130 metres hub-height.

The modular elements are easy to transport, and it cuts the tower cost by 40% compared with steel towers.

According to the company replacing a single 150-metre steel tower, with one made of wood, cuts 2000 tonnes of carbon dioxide emissions.

Gresham House plc (LON:GHE) is an AIM quoted specialist asset manager providing funds, direct investments and tailored investment solutions, including co-investment across a range of highly differentiated alternative investment strategies.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.