Windfarm Tech Innovator Kinewell Secures £1 Million Investment to Fuel Expansion
Windfarm software and consultancy firm Kinewell has raised £1 million in investment, marking a significant milestone for the Tyneside-based company. This funding includes the first investment from the newly established North East Accelerate Fund, which is managed by Mercia Ventures. The injection of capital is set to drive substantial growth and job creation in the renewable energy sector.
Investment Details and Job Creation
The investment package comprises £750,000 from the North East Accelerate Fund, which will unlock additional six-figure grant funding. This represents the first external investment into Kinewell, a firm that has recently secured multiple contracts for its innovative windfarm optimization technology. As a result, the company plans to almost double in size over the next six months, creating 10 new jobs and expanding its current team of 12 employees.
Kinewell's Technology and Impact
Founded in 2015 by engineer Andrew Jenkins during his PhD studies at Newcastle University, Kinewell launched its first product that same year. The company's flagship software, KLOC (Layout Optimisation of Cable), utilizes AI-powered technology to calculate the most economical arrangements for subsea cable layouts and optimal turbine locations. By assessing millions of options, the system can identify the most effective materials and layouts within minutes, typically reducing cable system costs by 20% and shortening windfarm development timelines by months.
Kinewell has expanded its offerings to include software for designing turbine layouts and transmission systems. Its latest products integrate all three elements—cabling, turbine, and transmission systems—with claims of reducing offshore windfarm costs by 6%. The firm is already collaborating with high-profile global developers such as Equinor, SSE Renewables, Parkwind, and Eurus Energy, and is currently involved in three grant-funded innovation and development projects.
Industry Context and Future Prospects
The global offshore wind market was valued at approximately $56 billion in 2024 and is projected to reach nearly $299 billion by 2034, according to Research and Markets. In line with this growth, the UK government recently secured a record 8.4 GW of offshore wind power capacity in its latest contract for difference round, unlocking £22 billion in investment. Kinewell and Mercia Ventures highlight the multibillion-dollar potential of this market, positioning the firm to capitalize on the expanding renewable energy sector.
Leadership Perspectives
Andrew Jenkins, founder of Kinewell, emphasized the company's mission: "Offshore wind is an ideal way to decarbonize our energy supply and improve energy security. Our goal is to bring down costs and reduce the time it takes to develop new wind farms, which in turn will make wind energy more attractive and help unlock further investment into the industry. Kinewell's solutions have already helped some of the world's largest renewable energy producers significantly reduce lead times and save hundreds of millions of pounds. This funding will help us build on that success."
Chris McCourt of Mercia Ventures added: "Kinewell has achieved remarkable success despite limited investment to date. With offshore wind entering a new growth phase, it is well positioned to capitalize on this. This investment will help unleash its potential and secure its position as the leading software of its type for the industry."
