12 years ago
Scotrenewables Tidal Power Secures $12M to Advance Tidal Energy Project
Scotrenewables Tidal Power, a Scottish provider of tidal turbine systems, has received a $12 million investment led by ABB Technology Ventures, the venture capital unit of ABB
The funding will be used to roll out the company's advanced tidal energy conversion system, SR2000, which is scheduled to be installed in the Lashy Sound tidal demonstrator project in Orkney.
ProblemRenewable Energy
"The UK is behind in renewable energy and needs to adopt new technologies to reach its carbon goals. Tidal energy is a promising renewable resource but suffers from a lack of funding. "
Solution
"Scotrenewables Tidal Power is a Scottish provider of tidal turbine systems, has received funding to support the roll-out of an advanced tidal energy conversion system known as the SR2000. This will be the first of a number of commercial units installed in the Lashy Sound tidal demonstrator project in Orkney. "
