In just over four years, the Spanish start-up AEROX has become a benchmark technology provider in the wind power sector. AEROX has commercial presence in 8 countries, including leaders in wind power such as China, USA, and Denmark. The start-up closes a successful 2018 with the opening of its branch AEROX North America LLC.
AEROX, a Spanish start-up specialised in the design of polymers for the wind power industry, has closed 2018 taking a step further in its ambitious business plan: The opening of its North American branch, AEROX North America LLC. “The North American wind power sector is a very dynamic market, highly demanding in terms of quality and service level. It is therefore virtually essential to have a local presence in order to be competitive,” said Raúl Cortés, the company’s CEO. The operation was coordinated by AKTION Legal Partners, a regular advisor to AEROX, and Garrigues through its office in New York.
AEROX’s technology solves some of the greatest challenges faced by the industry today, such as the protection of the leading edge of blades, due to the progressive increase in the size of wind turbines. AEROX has been marketing its products in the USA since 2018, and, following the recent opening of its branch, it plans to carry out the strategic implementation of a production unit in USA during 2019. The company has undergone rapid international expansion, with presence in Europe, Asia (where it already has a logistics centre in China) and, finally, North America. “Our business plan was to strengthen our supply chain in North America to ensure sustainable growth in this major strategic area for the sector in the coming years,” said Raúl Cortés.
The company has raised more than 1.7 million euros between public and private financing since 2017. After an initial capital increase in 2015, investors from Tech Transfer UPV, a fund promoted by the Social Council of the Universitat Politècnica de València and the asset manager Clave Mayor, completed the second financing round of the company between 2017 and 2018, with the aim of meeting the needs arising from international expansion.
In addition to the exponential growth in its turnover, 2018 has also been a successful year for AEROX’s new developments. AEROX received one million euros of financing in the first half of the year by the European Union’s SME Instrument H2020 for its LEP4BLADES project, which focuses on the industrial scaling of AEROX’s most disruptive innovation: A patented technology to protect the leading edge of wind turbine blades working under extreme operating conditions. This helps extend the wind turbine blade service life up to 3X, compared to other solutions on the market.
AEROX was born and is based in Valencia. The company was founded in 2014 as a spin-off of the energy division of QMC, a Valencian company with over 30 years of experience in developing adhesives and coatings for various industrial sectors. AEROX’s proven capacity for innovation and development has led it to set itself the ambitious goal of becoming the leading polymer supplier, offering innovative solutions to solve the challenges the wind power sector will be facing in the coming years.