Vestas buys into wooden turbine tower maker
The turbine manufacturer targets both a solution to a logistical problem and a reduction of its carbon footprint with its first investment since establishing Vestas Ventures. Wind turbines with wooden towers could become a solution on many markets, says innovation head.
It seems oddly fitting to use seed capital for investments in wood. At least, that's what Vestas is doing now, investing in Swedish start-up Modvion, which develops and constructs wooden wind turbine towers. The acquisition is the first one made by investment platform Vestas Ventures, established in November.
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