Uptime News Flash: Edge Solutions, Renantis and Ventient Energy, PelaStar and FibreMax

The Uptime News Flash is a short form podcast to discuss wind energy mergers, acquisitions, and partnerships. This week in the news Joel Saxum and Allen Hall discuss Scotland-based Edge Solutions seeking another funding round for their Armour Edge leading edge shell solution. Renantis and Ventient Energy are merging in 2024 to build a more powerful energy company, and PelaStar and FibreMax are working together for their innovation tension leg offshore floating platform design. Edge Solutions / Armour Edge - https://armouredge.comRenantis - https://renantis.comVentient Energy - https://www.ventientenergy.comPelaStar - https://glosten.com/project/pelastar/FibreMax - https://fibremax.nlPardalote Consulting - https://www.pardaloteconsulting.comWind Power Lab - https://windpowerlab.comWeather Guard Lightning Tech - www.weatherguardwind.comIntelstor - https://www.intelstor.com Sign up now for Uptime Tech News, our weekly email update on all things wind technology. This episode is sponsored by Weather Guard Lightning Tech. Learn more about Weather Guard's StrikeTape Wind Turbine LPS retrofit. Follow the show on Facebook, YouTube, Twitter, Linkedin and visit Weather Guard on the web. And subscribe to Rosemary Barnes' YouTube channel here. Have a question we can answer on the show? Email us!  News Flash 12 July 2023 Allen Hall: I'm Allen Hall, president of Weather Guard Lightning Ticket, and I'm here with the Vice President of North American Sales for Wind Power Lab. Joel Saxum, we're the host of the Uptime podcast, and this is your Newsflash. Edge Solutions, a Scottish company is looking for additional funding for their Armour Edge leading edge erosion solution and the company is, is seeking to raise 2 million pounds in new funding to expand its team meet, demand and finance research and development. And Joel, they had noted earlier that it had closed a 1 million pound enterprise investment scheme funding round which was participated in by private investors. But now it's, it's trying to expand itself. The company has hired  Stuart MacLean former senior partner in mergers and acquisitions and corporate finance at law firm, CMS who becomes the head of corporate development and Richard Scullion, a former global marketing director for Palla Pharma, has been appointed as head of business development. So Joel, we know that the Armour Edge product from Edge Solutions works really well. It sounds like they need a little bit of funding to, to really kick off this product. Joel Saxum:  Yeah. They're on that scale mode, right? They've got, they've, they've been in, out in the world. They're installing it. It's on turbines. They've got the, it's proved right. We know it works. They claim a 50 year lifetime now. It hasn't been around that long, so we don't know if the 50 year lifetime is correct yet. However they're out there in the market, they've have acceptance by the market, and now they're ready to hit the ground running. They've, they've done the walk and now it's time to sprint. So it's get some cash in, grow the team grow the ability to scale up by building product. And. They're on it right now. They're ready to go. Allen Hall: Why is it so hard for a physical product to raise money? This has gotta be the number one or number two issue for every wind turbine operator on the planet. Well, I think  Joel Saxum: part of the problem is, is that you have to attack the asset owners, right? That's who you have to go after with the hard, with the hard product. And when you're going with the asset owners, their budgets are a little bit smaller. So if it's not a solution that gives tangible feedback. Now to me, this is tangible, it's easy, it's gonna reduce my o and m budget by X amount. The ROI is pretty easy to calculate. You know, I won't have to do a million dollar campaign in year one, and then year five, and then year 10. It's easy to see. But those are, that's money down the road.