X1 Wind
X1 Wind is a Barcelona-based private developer of floating offshore wind platforms using its patented PivotBuoy mooring system (SPM+TLP hybrid) and downwind turbine configuration, serving offshore wind developers, utilities, and infrastructure funds with technology licensing, engineering services, and pre-commercial platforms.
- Company typePrivate
- Founded2017
- HeadquartersBarcelona, Spain
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What X1 Wind does
X1 Wind (legal entity: Exponential Renewables S.L.) is a Barcelona-based, privately held floating offshore wind technology developer founded in 2017 by Alex Raventos and Carlos Casanovas. The company designs and commercializes floating wind platforms based on its patented PivotBuoy® mooring system, which hybridizes Single Point Mooring (SPM) with Tension-Leg Platform (TLP) mooring and combines this with a passive weathervaning downwind turbine configuration. Its product portfolio spans the X30 part-scale prototype (validated at PLOCAN in Gran Canaria as the world's first TLP floating wind platform to export power), the X90 and X100 pre-commercial platforms (with X100 receiving DNV Basic Design certification in March 2026), and the X150 commercial-scale platform targeting 14–20 MW turbines and >250 MW floating farms. The company claims 30–50% steel weight reduction versus traditional steel floaters and a seabed footprint up to 55 times smaller than catenary systems, enabling deployment in water depths from 60 m to 500 m+ using small and medium vessels rather than heavy-lift vessels.
The company operates a B2B, project-based go-to-market targeting offshore wind developers, utilities, and infrastructure funds. Revenue streams include technology licensing (royalties on patented PivotBuoy designs), design and engineering services (feasibility, pre-FEED, industrialization roadmaps), and pre-commercial platform sales (X100 units for demonstration and early commercial projects). X1 Wind has secured substantial non-dilutive funding — approximately €36 million in cumulative EU, Spanish, and Catalan grants (Horizon 2020, Horizon Europe, Innovation Fund, EIC Accelerator, CDTI, Avançsa) — supplemented by strategic equity investment from InnoEnergy and Technip Energies. Its strategic partner ecosystem spans turbine OEMs (Vestas), power systems (ABB), certification (DNV), EPC (Technip Energies), and synthetic mooring (FibreMax), with industrial projects (PivotBuoy, NextFloat, NextFloat+) forming the core commercialization vehicle.
X1 Wind firmographics
Firmographics- Name
- X1 Wind
- Legal name
- Exponential Renewables S.L.
- Website
- https://x1wind.com
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- X1 Wind is a Barcelona-based private developer of floating offshore wind platforms using its patented PivotBuoy mooring system (SPM+TLP hybrid) and downwind turbine configuration, serving offshore wind developers, utilities, and infrastructure funds with technology licensing, engineering services, and pre-commercial platforms.
- Ownership category
- akta.pro rank
X1 Wind industry classification
Industry- Product category
- Floating Offshore Wind Platforms
- NAICS
- Wind Electric Power Generation (221115), Turbine and Turbine Generator Set Units Manufacturing (333611)
- SIC
- Engines & Turbines (3510)
- akta.pro primary industry
- Offshore Wind Power Generation (Floating) (EUACAFAC)
- akta.pro secondary industries
- Advanced Wind Technology R&D (Floating Offshore, Airborne Wind, New Rotor/Blade Concepts) (EUAMAOAB), Offshore Wind Substructures & Marine Engineering (Monopiles, Jackets, Floating) (EUAMACAE)
Keywords
Where X1 Wind is headquartered
LocationHeadquarters
- HQ city
- Barcelona
- HQ country
- Spain
- HQ region
- Europe
Offices3 records
Markets served
X1 Wind business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Personnel, Technology or R&D, Operations, Supply Chain, Marketing or Sales
Revenue model
- Technology Licensing: Licensing of patented PivotBuoy technology and floating wind platform designs to offshore wind developers and project companies for use in commercial floating wind farms
- Design and Engineering Services: Providing design and engineering services to clients for feasibility studies, pre-FEED studies, and project development support for commercial floating wind projects
- Pre-commercial Platform Sales: Sale of pre-commercial X100 floating wind platforms to demonstration and early commercial projects
Go-to-market motion2 records
Distribution channels1 record
Marketing channels5 records
X1 Wind product offering
Product offeringCore offering
X1 Wind develops floating wind platforms for deep-water offshore deployment, anchored by its proprietary PivotBuoy® single-point mooring system that combines SPM with TLP mooring and a weathervaning downwind turbine configuration. The company offers a modular portfolio ranging from the X30 prototype to the X90/X100 pre-commercial platforms and the X150 commercial-scale platform for 14–20MW turbines, alongside licensing of PivotBuoy technology and design/engineering services to project developers.
Product overview
X1 Wind is a floating offshore wind technology company that has developed a modular portfolio of floating wind platforms (X30, X90, X100, X150) based on its proprietary PivotBuoy® single-point mooring technology combined with a downwind turbine configuration. The platforms range from part-scale prototypes (X30) to pre-commercial (X100) and commercial-scale units (X150), all featuring the patented Tension-Leg Platform mooring system that enables passive weathervaning, significant weight reduction (30-50% compared to traditional floaters), and minimal seabed footprint. The technology is being validated through multiple EU-funded projects including PivotBuoy, NextFloat, and NextFloat+.
Differentiator
Problem solved
Functional benefit
Brands
- PivotBuoy®: Innovative single point mooring system combining SPM with TLP mooring for floating wind platforms, enabling weight reduction and cost-effective installation
- X30 Platform
- X100 Platform
- X150 Platform
Products and services
- PivotBuoy® Floating Wind Platform Technology Proprietary floating wind platform technology combining Single Point Mooring (SPM) with Tension-Leg Platform (TLP) mooring and a downwind turbine configuration for offshore wind developers and project companies licensing the technology for commercial floating wind farms.
- X90 Platform 6MW pre-commercial floating wind platform representing the transition from prototype to commercial scale, developed under the X1 ACCELERATOR project, for offshore wind developers seeking early commercial-scale deployment.
- X100 Platform
Quantifiable outcome
- 30-50% weight and cost reduction compared to traditional steel floaters
- +4 more outcomes
Companies that use X1 Wind
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles2 records
X1 Wind technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
X1 Wind partnerships and signals
Strategic signalPartnerships
19 partnerships are on record, tiered key, core and supporting.
- FibreMaxkeyMoU signed to explore synthetic mooring cable solutions with improved strength, durability, low-weight and circular/recyclable materials for TLP tendons
- Technip EnergiescoreProject coordinator for NextFloat and NextFloat+ projects; investment partner; joint development of industrial-scale floating wind platforms for commercial deployment
- DNVcoreCertification body providing Basic Design Statement of Compliance for X100 platform; technical advisory and design verification services
- VestascoreTurbine supplier for X30 prototype (Vestas V29 225kW adapted to downwind configuration) and ongoing technology development collaboration
- ABBcorePower converter and integral control system provider adapted for downwind offshore operation on X30 prototype
- PLOCANcoreOceanic Platform of the Canary Islands - test site host for X30 prototype deployment in real ocean conditions
- NaturgykeyEnergy utility as NextFloat Project consortium partner contributing to floating wind deployment development
- EDP (EDP NEW)keyPivotBuoy Project consortium partner and investor in floating wind technology development
- 2B EnergysupportingNextFloat Project consortium partner for offshore wind development
- Hellenic CablessupportingNextFloat Project consortium partner for cable solutions
- Technical University of Denmark (DTU)supportingNextFloat Project consortium partner for research and technical expertise
- Ecole Centrale de NantessupportingNextFloat Project consortium partner for hydrodynamic research
- Tersan ShipyardsupportingNextFloat Project consortium partner for shipbuilding and platform assembly
- DEGIMAkeyManufacturing partner for X30 prototype fabrication in Santander, Spain
- INTECSEAsupportingPivotBuoy Project consortium partner for offshore engineering and mooring system development
- ESMsupportingPivotBuoy Project consortium partner
- WavECsupportingPivotBuoy Project consortium partner for offshore wind research
- UPC (Universitat Politècnica de Catalunya)keyAwarded Next TLP project together with GEMIGEO for anchor design optimization for TLP floating offshore wind turbines
- GEMIGEOkeyAwarded Next TLP project with UPC for anchor design technology development
Scale indicators13 records
Recent moves7 records
Expansion highlights6 records
X1 Wind competitors and assessment
Company assessmentBroad incumbents
- Equinor (Hywind): Operator of Hywind, the first full-scale floating wind farm using spar-buoy technology, and a major oil & gas major pivoting to floating wind. Competes at the project/farm level rather than the platform technology level.
- Aker Solutions: Engineering and EPC firm developing concrete substructure floating wind concepts (e.g., Aker BP/ACCIONA partnership). Competes in the same developer/utility market with broader subsea and offshore capabilities.
- SBM Offshore: Major offshore engineering contractor (floating production systems) extending into floating wind through partnerships. Comparable in being a marine engineering firm commercializing a floater design for offshore wind developers.
- Saipem (Hexafloat): Engineering and offshore contractor developing the Hexafloat semi-submersible floating wind concept. Comparable in combining EPC scale with proprietary floater IP, but with much larger corporate backing.
Direct peers
- BW Ideol: Developer of the damping pool floating wind foundation, a barge-based concept competing directly with PivotBuoy in the pre-commercial floating wind segment, with French and Japanese pipeline projects.
- Principle Power: Developer of the WindFloat semi-submersible floating wind platform, the most commercially advanced competing floater concept. Direct competitor targeting the same deep-water offshore wind segment and the same offshore wind developer/utility customers.
Others
- Inocean: Norwegian naval architecture firm designing floating wind foundations for developers and utilities. Comparable as an engineering services and design peer serving the same floating wind developer customer base.
Emerging players
- Hexicon: Swedish developer of multi-turbine floating foundations (TwinWind). Pre-commercial floating wind technology company targeting similar deep-water markets with a different platform architecture.
- Stiesdal: Danish cleantech R&D company developing the TetraSub floating wind platform and offshore PtX technologies. Comparable as a small, IP-focused floating wind innovator with European roots.
- Naval Energies: French floating wind developer (formerly Areva/EDF) working on semi-submersible floater designs. Comparable as a European floating wind technology company pursuing pre-commercial demonstration projects.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
X1 Wind social profiles
Digital presenceX1 Wind compliance and trust
Trust signalCompliance3 records
X1 Wind financial estimates
Financial estimateRevenue estimate
Valuation estimate
X1 Wind leadership team
Management profileNumber of profiles
Profiles10 records
X1 Wind funding detail
Funding detailFunding overview
Funding rounds7 records
Investors7 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
X1 Wind M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about X1 Wind
What does X1 Wind do?
X1 Wind develops floating wind platforms for deep-water offshore deployment, anchored by its proprietary PivotBuoy® single-point mooring system that combines SPM with TLP mooring and a weathervaning downwind turbine configuration. The company offers a modular portfolio ranging from the X30 prototype to the X90/X100 pre-commercial platforms and the X150 commercial-scale platform for 14–20MW turbines, alongside licensing of PivotBuoy technology and design/engineering services to project developers.
Is X1 Wind a public or private company?
X1 Wind is a private company. It is classified as venture growth investor backed and is currently operating.
When was X1 Wind founded?
X1 Wind was founded in 2017. It employs 11 to 50 people.
Where is X1 Wind based?
X1 Wind is headquartered in Barcelona, Spain, in the Europe region.
How does X1 Wind make money?
Three revenue lines are on record. Technology Licensing is the primary driver. The others are design and Engineering Services and pre-commercial Platform Sales.
Who are X1 Wind's main competitors?
Broad incumbents on record are Equinor (Hywind), Aker Solutions, SBM Offshore and Saipem (Hexafloat). Direct peers are BW Ideol and Principle Power. Inocean is listed as an others. Emerging players are Hexicon, Stiesdal and Naval Energies.
Does X1 Wind have an API?
No public API is recorded for X1 Wind.
What industry is X1 Wind in?
X1 Wind's product category is Floating Offshore Wind Platforms. Its primary akta.pro industry code is EUACAFAC, Offshore Wind Power Generation (Floating), with a secondary code of EUAMAOAB, Advanced Wind Technology R&D (Floating Offshore, Airborne Wind, New Rotor/Blade Concepts). Its NAICS code is 221115 and its SIC code is 3510.