Login

News

Shoreline Wind, wind energy SaaS leader, secures investments in expansion funding round.

Funding to support rapid scaleup, accelerate market expansion, and increase the company’s unique scenario modeling capabilities

Stavanger, Norway – June 8, 2022Shoreline Wind, the industry-leading software solution enabling more efficient and effective wind project design, construction, and O&M, has secured a $7.5M investment from Ecosystem Integrity Fund (EIF). Ferd and Blue Bear Capital also participated in the round.  

Shoreline’s software solutions are currently deployed by more than 30GW of wind project development and operations across Europe, Asia, and the U.S. The new funds will drive Shoreline’s further growth in the U.S. and APAC, and expand the company’s feature set for lifecycle asset optimization. More specifically, Shoreline plans to increase staffing to facilitate further development and distribution of its modeling and management platforms, Design™ – the industry leading pre-construction wind farm planning, operation and maintenance simulation tool, and Execution™ – the integrated, module-based enterprise platform for managing construction and asset management of renewable assets.

Since 2014, Shoreline’s native designed SaaS solutions deliver the essential, data-driven insights wind farm developers, operators, OEMs, contractors, and consultants need to make wind energy more cost efficient throughout the entire wind farm lifecycle. With Shoreline, project construction, operation, maintenance, and decommissioning can be optimized based on resource availability, potentially resulting in substantial OPEX savings.

“Right now, Shoreline is perfectly positioned to experience exponential growth in lockstep with the rising global demand for renewable energy,” said Ole-Erik Vestøl Endrerud, CEO of Shoreline Wind. “Wind and other renewables will be the energy delivery systems of the future, but truly out-competing traditional energy sources will require significant cost and resource optimization throughout the entire lifecycle, and we’re the only SaaS provider in the market with the industry knowledge and unique patented simulation technology proven to drive down construction and O&M costs.”

“We believe Shoreline is best-positioned to enable faster and cheaper growth of offshore wind development,” said Geoff Eisenberg, partner at EIF. “There is an ever-increasing need for process improvement, cost reduction, and productivity optimization in this industry, made even more urgent by our collective need to increase the pace of renewable energy deployment on a global scale. Ultimately, with its market-leading position, Shoreline Wind should become the standard software for project design, construction, and O&M for the global renewable power industry. We’re excited to partner with Shoreline Wind and help the company achieve its achieve its full potential.”

Increasingly ambitious wind energy installation and energy production goals are being announced globally. According to a recent forecast, global wind power capacity is expected to expand 9% by 2030, with planned installations in China and the U.S. leading the trend*. Wind farm developers and operators are increasingly reliant on smart simulation solutions to virtually plan and optimize construction and operation, and subsequently deploy and manage the assets using digital solutions, in order to maximize return on investment in what is an increasingly cost-competitive market.

For more information about how Shoreline’s agent-based solutions are transforming wind farm construction and O&M, please visit our website.

*Wood Mackenzie “Global wind power market outlook update: Q4 2021” 24 November 2021.

About Ecosystem Integrity Fund

Ecosystem Integrity Fund (EIF) invests in early growth-stage companies contributing to environmental sustainability across multiple sectors including renewable energy, energy efficiency, waste reduction, green chemistry, transportation, agriculture, and water. EIF invests in companies solving real problems, resulting in better investment opportunities and greater impact. The firm has over $425 million assets under management.

For more information, visit: www.eif.vc.

About Shoreline Wind

Shoreline Wind is headquartered in Stavanger Norway, with offices in Esbjerg, Denmark; Hamburg, Germany; London, UK; Seoul, South Korea; Palo Alto, California; and Providence, Rhode Island and provides enterprise solutions for the wind industry using intelligent data integration and simulation software to optimize and execute wind farm construction, asset management and business cases. Shoreline’s solutions are deployed globally by the world’s largest energy companies, OEMs, service companies and consultants.

For more information about Shoreline Wind, please visit the company’s website at www.shoreline.no.

About Ferd Impact Investing

Ferd Impact Investing invests in early-phase companies with the potential both to have a positive impact on the climate and environment, and to generate a robust risk-adjusted financial return. We primarily invest through funds and other forms of complementary and resource-efficient partnerships. We concentrate on three sectors in which Ferd has a strong position and significant expertise: Renewable energy, proptech and aquaculture.

For more information, please visit https://ferd.no/en/.

About Blue Bear Capital

Blue Bear Capital is a venture capital and early growth equity firm driving the expansion of digital technologies into multibillion-dollar verticals across the energy, infrastructure, and climate industries. The team comes from leading energy private equity firms and features technology expertise from the tech startup world alongside operational leadership from large-scale technology developers and adopters. Blue Bear’s portfolio covers operational AI, IoT, and cybersecurity technologies, all deployed with enterprise customers to drive connectivity and efficiency across the world’s most critical industries.

More information can be found at www.bluebearcap.com and @BlueBearCap on Twitter.

Media Contact
Rolf Christansen
Head of Marketing & Communication
Shoreline Wind
christiansen@shoreline.no

Subscribe to our eNewsletter

Gain an insider’s view of cross-sector specific news, issues and policies impacting wind renewables and receive timely updates about the latest industry events and activities.

Wind industry memberships with