| MARINE Current Turbines Ltd has raised no less than £8.5m ($12.7m) since the beginning of the year.Investors in the first round included Bank Invest, Carbon Trust, EDF Energy and High Tide. Siemens has also taken a 10% stake in the company.SeaGen, the prototype commercial tidal energy turbine has exceeded 1000 hours of operation in Northern Ireland’s Strangford Lough.It is the first and only tidal current energy system in the world to have achieved this milestone.The total funding will help Marine Current Turbines (MCT) in its plans to deploy the UK’s first commercial tidal energy farm in UK waters within the next two years.″With this investment in an early stage company we’re securing access to an innovative technology in the field of renewables,″ René Umlauft, CEO of the renewable energy division of Siemens Energy said.″As one of the technology leaders in ocean power, Marine Current Turbines is a suitable partner for us to enter the promising ocean power market.″″Siemens’ investment in MCT underlines the significant commercial potential that exists for tidal energy across the globe, and enables us to draw upon the company’s extensive knowledge and experience in turbine generation technology,″ Martin Wright, managing director of Marine Current Turbines said.″This new deal represents a major vote of confidence in Britain’s marine energy industry,″ Tom Delay, chief executive, Carbon Trust said.″The UK must urgently diversify, decarbonise and secure its energy sources and marine energy could over time provide up to 20% of the UK’s electricity.″Generating electricity from the UK’s powerful wave and tidal resource not only plays a crucial role in meeting our climate change targets but also presents a significant economic opportunity for the UK.″ Current Turbines was reported in last month’s Electrical World magazine in discussions with New Zealand’s Energy Pacifica about a unit for the entrance to Tory Channel in the Cook Strait. |
