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Date: 19/09/2017
Category: Investments

THE TECH TRANSFER UPV FUND INVEST €500.000 IN AEROX TO INNOVATE THE WIND INDUSTRY.

Tech Transfer UPV  investors, a fund promoted by the Social Council of the Universitat  Politècnica de València and the private equity manager Clave Mayor, have injected a half million euros into AEROX Advanced Polymers, a company dedicated to polymers development for the wind industry.

This is the third round that closes this pioneering venture capital fund in its commitment to technology transfer projects and entrepreneurship generated within a Public University, in order to accompany them on their release on the market. This is its third investee since its activity beginning in March 2016, after QUIBIM and AWSensors investments.

With this funding, investors led by Tech Transfer UPV acquire a minority share in AEROX. This company was established in 2014 as Spin-off of the QMC Tecnología Química company, specialized in adhesives development and coatings for different industrial sectors.

AEROX technology has solved the erosion problems of the leading edge. This problem affects the maintenance and blades efficiency, which are progressively reaching greater size to gain efficiency. In the second half of 2016, the company launched to the market its most innovative development. A coating to protect the leading edge of wind turbine blades that delays the deterioration appearance in rain erosion tests with respect to current standards, which extends the generator useful life without maintenance needs. Its range of products includes gelcoats for coating and protection of these blades and also structural adhesives for sticking them.

Aerox is led by Raúl Cortés and Enrique Cortés, both engineers at the UPV. Raúl is also a doctor from the UPV and an associate professor in the business organization department.

In only three years, they have managed to multiply their turnover with an expected revenue for 2017 of more than 3 million euros. They are presence in 4 countries and they have positioned themself as a leading technological supplier in the wind energy sector. They collaborate in projects development with some of the most important wind turbine manufacturers, such as Vestas, Gamesa or Suzlon, with worldwide market shares of 11,8% and 5,4% and 3% respectively, as well as one of the largest wind turbine blades manufacturers, TPI Composites, which in 2016 billed more than 170 million dollars.

“For Tech Transfer UPV, it is a strategic investment, since they incorporate to the portfolio a company with a high impact technology and rapid internationalization”, emphasizes Pedro de Álava, Tech Transfer UPV fcr. Director.

About TECH TRANSFER UPV

Tech Transfer UPV has a net worth of 3,9 million euros. The Fund is participated by the Instituto Valenciano de Finanzas (IVF) and by 28 Valencian entrepreneurs and professionals and from different sectors of Castellón.

The fund promoted by the UPV Social Council and managed by Clave Mayor, has just closed its third call for projects selection to the Tech Transfer UPV fund, and already has 51 new projects registered. The manager has four projects in an analysis advanced state to invest during this second semester.

Among its subsidiaries are: Quibim and Adavanced Wave Sensors, linked to former students and researchers at the UPV.

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