South African clean-tech startup Brayfoil Technologies has been selected to take part in the Katapult Ocean accelerator, in addition to securing an undisclosed amount of funding from the Norway-based ocean impact investor.
Formed in 2017, Brayfoil Technologies uses biomimicry-inspired compliant structures that change shape like bird’s wings to enable larger wind turbines and lower the cost of energy.
Having previously taken part in the South Africa-based OceanHub Africa accelerator, the startup has now gained international recognition after being selected for Katapult Ocean, which has 108 portfolio companies in 35 countries and US$50 million in assets under management.
Katapult Group has invested NOK50 million (US$6 million) in this cohort across 18 companies, selected from roughly 2,700 applicants at an acceptance rate that equates to just 0.8 per cent.
“We’re immensely proud to be a part of the Katapult family, they are one of the top 50 climate investors in the world and we look forward to scaling an African-born technology with their support,” said Matthew Bray, co-founder and chief executive officer (CEO) of Brayfoil.
Brayfoil’s technology is being driven forward by global patents, over US$2 million in grant funding and equity investment, and a team of skilled engineers. The team has been incubated by the Innovation Hub’s Climate Innovation Centre, and is part of Hello Tomorrow’s Top 100 companies in Deep Tech.
