MCT continues to attract investment
Marine Current Turbines announced today it has received investment from Siemens, as well as the Carbon Trust, High Tide and other private investors.
Following an investment round led by the Carbon Trust in 2009, the latest funding brings the total investment in Marine Current Turbines over the past two months to £8.5m. Investors in the first round included Bank Invest, the Carbon Trust, EDF Energy and High Tide.
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 in the next two years.
MCT said SeaGen, the company’s prototype commercial tidal-energy turbine, has exceeded 1,000 hours of operation in Strangford Lough, Northern Ireland. SeaGen employs twin 16m-diameter rotors to develop a rated power of 1.2MW at a current velocity of 2.4m/s.
René Umlauft, chief executive officer of the renewable-energy division of Siemens Energy, said: ‘With this investment in an early-stage company we’re securing access to an innovative technology in the field of renewables.
‘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.’
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