Wind Catching Systems AS (WCS), the developer of floating offshore-wind technology, has announced a Series A investment round of up to $10 million led by GM Ventures (GMV) to help fund the development and commercialization of the technology.
Wind Catching Systems and General Motors (GM) also have entered into a strategic agreement for collaboration covering technology development, project execution, offshore-wind policy, and the advancement of sustainable technology applications.
Serving as the venture-capital arm of General Motors, GM Ventures strategically invests in startup companies that share GM’s enterprise vision of an all-electric, hands-free and more sustainable future, even beyond the personal vehicle, and connects them with GM’s extensive network of partnerships, iconic brands, technology talent and manufacturing expertise to accelerate and commercialize innovations globally.
In addition to GMV, current investors Ferd AS and North Energy ASA have