Principle Power
Principle Power licenses its patented WindFloat® semi-submersible floating offshore wind foundation technology and provides full-lifecycle engineering services to developers, IPPs, utilities, and EPCI contractors, with 105 MW deployed and 14+ GW in design pipeline across Europe, North America, and Asia.
- Company typePrivate
- Founded2007
- HeadquartersSeattle, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Principle Power does
Principle Power, Inc. is a privately held floating offshore wind technology and engineering services company founded in 2007 and headquartered in Emeryville, California, with operational offices in France, Portugal, the United Kingdom, and Japan. The company develops and licenses the WindFloat® portfolio of semi-submersible floating foundation technologies, comprising four modular designs (WindFloat T, WindFloat F, WindFloat TC, and WindFloat FC) engineered for deployment in water depths from 40 meters to over 1,000 meters where fixed-bottom foundations are not viable. Principle Power holds 105 MW of capacity in operation or under construction and 14+ GW of projects under design contract, with cumulative deliveries exceeding 1 TWh and 300,000+ operational hours across Atlantic and North Sea installations including WindFloat Atlantic (Portugal), Kincardine (Scotland), and EFGL (France). Core proprietary components include Water Entrapment Plates for hydrodynamic damping, the Smart Hull Trim adaptive system, a patented I-tube inter-array cable connector, and an Adjustable Passive Ballast System enabling port-based turbine integration.
The company operates a hybrid revenue model combining intellectual property licensing of WindFloat® patents and trademarks with full-lifecycle engineering services spanning project development support, concept and pre-FEED design, FEED and detailed design, project execution oversight, inspection/maintenance/repair, and end-of-life services. Customers comprise enterprise-scale developers, independent power producers, utilities, and EPCI contractors, with regional business development coverage across APAC, Japan, Northern Europe, and Southern Europe. Key disclosed customers and project sponsors include Ocean Winds (the EDP Renewables/ENGIE joint venture) and Banque des Territories, with strategic supply chain partners including Vestas (turbines), Eiffage Métal (fabrication), and Mammoet (heavy lifting). The company is independently certified under ISO 9001, 14001, and 45001, with WindFloat® technology certified by ABS, Bureau Veritas, and ClassNK classification societies, and is the only independent floating wind provider to achieve Technology Readiness Level 9.
The business is backed by investors including EIT InnoEnergy and Tokyo Gas, with non-dilutive support from the U.S. Department of Energy. In December 2025, João Amaral succeeded Julian Arrillaga Costa as Chief Executive Officer, bringing industrialization-focused leadership from his prior role as Group CTO at Voltalia. The company's near-term strategic priorities are advancing its 14+ GW design pipeline toward final investment decisions, industrializing WindFloat® manufacturing through automated factory concepts, and expanding into APAC markets including South Korea, while maintaining its position as the most operationally proven independent floating wind technology provider globally.
Principle Power firmographics
Firmographics- Name
- Principle Power
- Legal name
- Principle Power, Inc.
- Website
- https://principlepower.com
- Company type
- Private
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Principle Power licenses its patented WindFloat® semi-submersible floating offshore wind foundation technology and provides full-lifecycle engineering services to developers, IPPs, utilities, and EPCI contractors, with 105 MW deployed and 14+ GW in design pipeline across Europe, North America, and Asia.
- Ownership category
- akta.pro rank
Principle Power industry classification
Industry- Product category
- Floating Offshore Wind Technology
- akta.pro primary industry
- Offshore Wind Substructures & Marine Engineering (Monopiles, Jackets, Floating) (EUAMACAE)
- akta.pro secondary industry
- Offshore Wind Power Generation (Floating) (EUACAFAC)
Keywords
Where Principle Power is headquartered
LocationHeadquarters
- HQ city
- Seattle
- HQ country
- United States
- HQ region
- North America
Offices5 records
Markets served
Principle Power business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales
Revenue model
- Technology Licensing: Principle Power licenses its portfolio of intellectual property including patents, trademarks, and offshore know-how to clients in the offshore wind market. The licensing model provides cost-effective immediate access to WindFloat technology and enables access to sites otherwise not accessible. Clients maintain flexibility to engage supply chain directly and develop bespoke solutions for local markets.
- Engineering Services: Full lifecycle engineering services spanning project development support, concept and pre-FEED design, FEED and detailed design, project execution support, inspection, maintenance & repair, and end of life services. Services are provided under license to clients and configure WindFloat technology solutions to meet client and project-specific requirements.
Go-to-market motion2 records
Distribution channels2 records
Marketing channels5 records
Principle Power product offering
Product offeringCore offering
Principle Power designs, licenses, and provides engineering services for the WindFloat® portfolio of semi-submersible floating offshore wind foundations. The company offers four modular platform designs (WindFloat T, F, TC, FC) deployable in waters deeper than 40m, alongside full lifecycle engineering services spanning project development, FEED, detailed design, project execution, inspection/maintenance/repair, and end-of-life services for floating wind farm operators, developers, and EPCI contractors worldwide.
Product overview
Principle Power offers the WindFloat® product portfolio, consisting of four modular semi-submersible floating foundation technologies for offshore wind turbines: WindFloat T (tubular design), WindFloat F (flat panel design), WindFloat TC (tubular center column), and WindFloat FC (flat panel center column). All four designs are 4th generation platforms suitable for any standard commercial wind turbine above 15MW and deployable in waters deeper than 40m. The portfolio is complemented by full lifecycle engineering services including Project Development Support, Concept and Pre-FEED Design, FEED and Detailed Design, Project Execution Support, Inspect, Maintain & Repair (IMR), and End of Life Services. The company also licenses its WindFloat® intellectual property portfolio to clients, providing access to patents, trademarks, and offshore know-how for project-specific applications.
Differentiator
Problem solved
Functional benefit
Products and services
- WindFloat T Three-column semi-submersible tubular floating foundation with Water Entrapment Plates (WEP) for optimal hydrodynamic performance. The most proven and bankable floating foundation, now in its 4th generation, suitable for deployment in waters deeper than 40m with any standard offshore wind turbine.
- WindFloat F Patented flat-panel pontoon-based floating foundation leveraging 4th generation design heritage. Compatible with established flat panel construction methods used in shipbuilding and oil & gas, featuring ultra-shallow wind turbine integration draft as shallow as 8-9 meters.
- WindFloat TC Tubular center column design variant optimized for 15MW+ turbines with stiff-stiff tower configurations. Benefits from 4th generation design heritage including Smart Hull Trim system and fatigue-resilient architecture with compact footprint.
- WindFloat FC Flat-panel center column design variant optimized for 15MW+ turbines with stiff-stiff tower configurations. Combines flat panel construction methods with center column geometry for bankable solutions immediately ready for commercial scale projects.
- WindFloat® License Intellectual property licensing model providing cost-effective access to the WindFloat® technology portfolio including patents, trademarks, and related offshore know-how. Enables clients to engage supply chains directly and develop bespoke solutions balancing local content and cost.
- Project Development Support Comprehensive services supporting floating wind projects from inception including site selection and optimization, development strategy, infrastructure assessment, project structuring, permitting, and advocacy. Leverages deep knowledge of floating technology and worldwide ecosystem of partnerships.
- Concept and Pre-FEED Design
- FEED and Detailed Design
- Project Execution Support
- Inspect, Maintain & Repair (IMR) Inspection, maintenance and repair services with a successful track record since 2011. Leverages operational data and deep understanding of WindFloat® systems to optimize performance, maximize uptime, and minimize cost and risk through flexible operational services.
- End of Life Services Life Extension engineering services to assess platform condition and make recommendations for safely optimizing assets beyond initial design lifetime. Also includes decommissioning services leveraging experience from WindFloat 1 decommissioning in Portugal (2011-2016).
Quantifiable outcome
- 105 MW capacity in operation or under construction with proven resilience in challenging Atlantic and North Sea weather conditions
- +4 more outcomes
Companies that use Principle Power
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
Principle Power technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature7 records
Principle Power partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core and supportive.
- Marine Innovation & TechnologycorePartnership established in 2007 with specialist offshore engineering company to develop floating platform for offshore wind turbines based on semi-submersible platform architecture. Principle Power acquired the technology IP portfolio in 2009.
- Eiffage MétalcoreEiffage Métal fabricated WindFloat foundations for EFGL project at their Fos-sur-Mer yard in France. Partnership exemplifies supply chain collaboration for floating wind deployment.
- VestascoreVestas supplies wind turbines for WindFloat projects including V164-10 MW turbines for EFGL (largest ever installed on floating foundation). Principle Power coordinates closely with Vestas to address critical interfaces between wind turbine and floating platform.
- MammoetsupportiveMammoet provided heavy lifting equipment including Terex Demag CC 8800-1 crawler crane for wind turbine integration onto WindFloat platforms at port.
- Ocean WindscoreOcean Winds (joint venture between EDP Renewables and ENGIE) is project sponsor for multiple WindFloat projects including WindFloat Atlantic, Kincardine, and EFGL. Chairman Bautista Rodríguez represents Ocean Winds on Principle Power's board.
- SDIsupportiveSDI responsible for installation of inter-array and export cables for EFGL project.
- EcoceansupportiveEcocean developed BioHuts installed on WindFloat units at EFGL project as part of biodiversity observation initiative. Partnership demonstrates nature-positive approach to floating wind development.
- Global Wind Energy CouncilcorePrinciple Power participates in committees within Global Wind Energy Council to help floating wind markets develop and accelerate, sharing knowledge and insights.
- World Forum Offshore WindcoreActive participation in World Forum Offshore Wind industry association for market development and best practices.
- Wind EuropecoreParticipation in Wind Europe committees for European floating wind market development and regulatory advocacy.
Scale indicators15 records
Recent moves6 records
Expansion highlights6 records
Principle Power competitors and assessment
Company assessmentDirect peers
- Equinor: Equinor operates Hywind, the spar-based floating offshore wind platform and the longest-operating commercial floating wind design. Hywind Tampen (88 MW) is the largest operational floating wind farm, and Equinor is pursuing GW-scale floating wind projects, making it the most direct competitor to Principle Power's WindFloat in the floating foundation space.
- Aker Solutions: Aker Solutions, together with Aker BP, has developed a semi-submersible floating wind foundation leveraging its deep O&G engineering heritage. It is one of the closest competing concepts to WindFloat in geometry and supply chain profile, targeting the same European and US floating wind markets.
- BW Ideol: BW Ideol (part of BW Offshore group) develops barge-based floating foundations for offshore wind using a shallow-draft concrete design. It has pilots in France and Japan and is a direct competitor to WindFloat, particularly in the Mediterranean and Asian markets where shallow-draft designs offer port integration advantages.
- Saipem: Saipem developed the Nemos (later renamed Stabilised) floating wind platform leveraging its offshore EPCI expertise. As a major offshore engineering contractor, Saipem competes with Principle Power both as a technology provider and as an EPCI delivery partner on floating wind projects.
- SBM Offshore: SBM Offshore is applying its deep-water floating production systems expertise from oil & gas to develop floating wind foundations. Its entry into floating wind represents a direct competitive threat, particularly for projects requiring semi-submersible platforms similar to WindFloat.
Broad incumbents
- Vestas: Vestas is the world's largest wind turbine OEM and a key technology partner for Principle Power (supplying 10 MW turbines for EFGL). While not a direct foundation competitor, Vestas shapes floating wind commercialization through its turbine roadmap and could choose to vertically integrate or partner with alternative foundation suppliers.
Regional players
- Hitachi Zosen: Hitachi Zosen is a Japanese industrial manufacturer that has developed a semi-submersible floating wind platform (with Toda Construction) and is the primary domestic competitor in Japan, where Principle Power is actively pursuing Korea Floating Wind and other Asia-Pacific projects.
Emerging players
- Marine Power Systems: Marine Power Systems is a Welsh early-stage company developing dual-purpose floating wind and wave energy platforms. As an emerging UK-based player with overlapping customer base (UK Celtic Sea floating wind tenders), it represents a partial-overlap emerging competitor to Principle Power in Europe.
- Glosten: Glosten is a US naval architecture and marine engineering firm that has developed the PelaStar floating wind concept. It is an emerging competitor targeting the US West Coast and Northeast floating wind markets, overlapping with Principle Power's US geography.
- Hexicon: Hexicon is a Swedish floating wind developer pioneering multi-turbine floating platforms, with projects in Scotland and Norway. It overlaps with Principle Power on European floating wind customers and competes in the same developer procurement processes, though it is primarily a developer rather than a foundation technology licensor.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Principle Power social profiles
Digital presencePrinciple Power compliance and trust
Trust signalCompliance4 records
Principle Power financial estimates
Financial estimateRevenue estimate
Valuation estimate
Principle Power leadership team
Management profileNumber of profiles
Profiles12 records
Principle Power subsidiaries and ownership
Company hierarchySubsidiaries4 records
Principle Power funding detail
Funding detailFunding overview
Funding rounds7 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Principle Power 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 Principle Power
What does Principle Power do?
Principle Power designs, licenses, and provides engineering services for the WindFloat® portfolio of semi-submersible floating offshore wind foundations. The company offers four modular platform designs (WindFloat T, F, TC, FC) deployable in waters deeper than 40m, alongside full lifecycle engineering services spanning project development, FEED, detailed design, project execution, inspection/maintenance/repair, and end-of-life services for floating wind farm operators, developers, and EPCI contractors worldwide.
Is Principle Power a public or private company?
Principle Power is a private company. It is classified as venture growth investor backed and is currently operating.
When was Principle Power founded?
Principle Power was founded in 2007. It employs 11 to 50 people.
Where is Principle Power based?
Principle Power is headquartered in Seattle, United States, in the North America region.
How does Principle Power make money?
Two revenue lines are on record. Technology Licensing is the primary driver. The others are engineering Services.
Who are Principle Power's main competitors?
Direct peers on record are Equinor, Aker Solutions, BW Ideol, Saipem and SBM Offshore. Vestas is listed as a broad incumbent. Hitachi Zosen is listed as a regional player. Emerging players are Marine Power Systems, Glosten and Hexicon.
Does Principle Power have an API?
No public API is recorded for Principle Power.
What industry is Principle Power in?
Principle Power's product category is Floating Offshore Wind Technology. Its primary akta.pro industry code is EUAMACAE, Offshore Wind Substructures & Marine Engineering (Monopiles, Jackets, Floating), with a secondary code of EUACAFAC, Offshore Wind Power Generation (Floating).