Triton Anchor Closes Seed Round Investment

Floating wind's most innovative anchor solution continues to gain momentum

CHELMSFORD, Mass., Dec. 12, 2022 /PRNewswire/ -- Triton Anchor, developer of the first-of-its-kind anchoring solution, announced the closing of its initial funding round. The funds will be used to accelerate platform development as the company scales its products from prototype to general release, expands market outreach, and grows its team.

"Floating offshore wind is at a worldwide inflection point. Component efficiency and industrialization are the keys to a rapid increase in green energy output," said Tyson Lawrence, CEO of Triton Anchor. Zach Miller, Triton Anchor CTO, expanded, "This funding enables us to deliver that future and offer a solution to a critical gap in the floating offshore wind supply chain." 

Triton Anchor is a spin-off of Triton Systems, a leading developer of technology-based solutions for growing markets in energy, biotech and security. Triton Anchor's seed round is led by OS Impact Investments, LLC and supported by the Massachusetts Clean Energy Center (MassCEC). Competitive grants provided by the U.S. Department of Energy, National Offshore Wind Research & Development Consortium (NOWRDC), MassCEC, and the Department of the Navy have been crucial to making this technology a reality. The support of these institutions has both provided development funding and confirmation of the importance of this product to the green economy. 

Scott Wheeler, Managing Director of OS Impact Investments, said, "The anchoring solutions being developed by Triton Anchor have the potential to be a game changer by accelerating the deployment of floating wind generation and floating wind's potential to help the world achieve its carbon reduction goals. Its solutions will not only help the industry lower costs but will reduce the time needed to deploy wind turbines in deep water environments."

"Massachusetts is a leader in offshore wind development and innovation. To reach ambitious 2030 decarbonization goals and our Commonwealth's commitment to 5600MW of OSW by 2030, we must accelerate leading-edge OSW technologies," said MassCEC's Managing Director of Investments, Hilary Flynn. "Floating offshore wind will help us reach our goals. Triton Anchor's novel anchor solution reduces the cost of floating turbines and will help deliver affordable, clean energy to the residents of the Commonwealth." 

About Triton Anchor

Triton Anchor has pioneered a first-of-its-kind anchoring technology that solves the problems of low volume outdated and fragmented legacy anchor systems. By offering a flexible group anchoring solution, Triton Anchor provides a cost-efficient solution to the massive increase in anchor demand created by the burgeoning floating offshore wind market. Its world-class team has diverse expertise across all facets of offshore technology.

For more information, visit https://www.tritonanchor.com/.

About OS Impact Investments

OS Impact Investments, LLC is an impact investment business focused on funding and supporting early-stage technology startups that demonstrate their potential to help the world reduce its carbon emissions and achieve net zero. OS Impact Investments works with startups to conduct deep technology and market due diligence and advise on market approaches. It supports accredited investors interested in using their capital to make the world a more just and sustainable planet by connecting them with entrepreneurs and investment opportunities that enable them to use their capital to make a real difference.

About Mass CEC

The Massachusetts Clean Energy Center has a strong history of identifying promising clean energy and climatetech start-ups and solutions. Its technology development grants and early-stage investments target novel and compelling climate-critical solutions that will significantly reduce global greenhouse gas (GHG) emissions and build a robust and equitable workforce to support those technologies. MassCEC's unique investment program offers early-stage funding in tech that is critical for decarbonization focused on filling funding gaps not met by traditional venture capital.

Contacts:
Mr. Zach Miller
Email: [email protected]

Diane Wilson
Email: [email protected]
Phone: 9785051275

SOURCE Triton Anchor