Only 6 months after announcing the creation of its new branch in the USA, AEROX, the Spanish startup specialised in the design of polymers for the wind industry, goes one step further with its international expansion by establishing a technical assistance and commercial office in Shanghai, China. “Over the past few years, China has acquired a major role in the global development of renewable energies, particularly in the wind industry. We were aware of this, but in a market as complicated as the Chinese one it is crucial to rely on local staff in order to provide the best possible service to our clients”, Raúl Cortés, CEO of the company, points out.
AEROX markets its products in China since 2018 and already had a logistics center in Nantong (Jiangsu). It now strengthens its commitment to this market with technical assistance and commercial staff in Shanghai´s new office, operational since May 2019.
According to what Cortés states, in addition to the clear leadership in new onshore facilities, China will install more than 40 GW of offshore capacity, and much of it will be produced by local manufacturers. ”A fundamental objective of our business plan is to balance our global presence, not only guaranteeing a reliable supply chain to our costumers, but also the ability to provide technical and commercial assistance locally” states Raúl Cortés.
Since 2017, the company has raised more than 1,7 million Euros between public and private financing rounds. 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 2018 Aerox became a member of the BME (Bolsas y Mercados Españoles) PreMarket for startups. By this initiative, BME offers Spain’s brightest and boldest startups, the necessary support to reach the level of competencies required by the regulations to finance themselves through the capital markets.
AEROX was founded in Valencia 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. The proved ability of innovation and development of AEROX, has led it to set itself the ambitious objective of becoming the leading polymer supplier providing unconventional solutions to solve the challenges the wind sector will be facing in the coming years.