GKinetic Energy are delighted to announce they have been selected to receive support from Europe’s BlueInvest Readiness Assistance Programme for Cycle 4. BlueInvest is enabled by the European Maritime and Fisheries Fund that aims to boost investment for high potential products developed specifically for the Blue Economy. GKinetic has advanced a compact and efficient hydrokinetic turbine suitable for canals, rivers and estuaries and is now lining up its first commercial pilot projects. GKinetic was initially attracted to BlueInvest after speaking to fellow Irish company, Exceedence. Exceedence specialises in renewable energy finance and have recently completed the programme. 

“Exceedence was selected to participate in Cycle 2 of the BlueInvest Readiness Assistance Programme. The programme was a very valuable experience, validating our existing competencies and providing us with access to expert coaching. This afforded us the opportunity to stress-test and refine our commercialisation and growth plans, and having completed the programme we have seen tangible organisational benefits. We wish GKinetic every success as they begin the process as part of Cycle 4.” – Brendan Cahill, Exceedence

SMEs, start-ups, scale-ups and innovators can apply to the BlueInvest Programme to assess their investment readiness and if selected will receive tailored assistance packages and coaching. The BlueInvest academy also provides selected companies with training sessions and b2b networking opportunities. More information on the BlueInvest Readiness Assistance Programme can be found by visiting this website linked here: https://webgate.ec.europa.eu/maritimeforum/en/node/4421

Starting this month, GKinetic will receive one to one coaching for a duration of 3 months. The mentor selected for the GKinetic team is global innovation specialist and investor, Dr Clyde Hutchinson, Partner at Journey Partners. Clyde will assist the company in business planning and securing future investment to develop a portfolio of commercial projects. 

“We are delighted to have been selected for the BlueInvest Readiness Assistance programme. Our selected coach Clyde Hutchinson is a great match and we look forward to working with him closely over the next couple of months on our growth strategy and securing investment for identified commercial projects that we now have lined up.” – Roisin Mc Cormack, Business Development Manager/COO

The BlueInvest support is well timed for GKinetic as plans for team expansion, technology development and current projects continue to progress. The company’s role as a consortium partner for the EU Horizon 2020 funded +CityxChange project is ramping up with GKinetic finalising a proposal to deploy their technology as part of a positive energy block. The project aims to make Limerick, Ireland and Trondheim, Norway EU Smart Cities with the potential of the initiatives and renewable energy technology being replicated in the project’s 9 follower cities around Europe. In tandem with rolling out the canal, river and estuary device, the company is continuing the research and development of a fully submerged large scale device suitable for ocean deployments. 

GKinetic Press Enquiries to: Maura Culhane, PR & Marketing Coordinator at GKinetic Energy Ltd, email info@gkinetic.com