Tocardo acquires Swanturbines

26 February 2015


Tidal and free-flow water turbine producer Tocardo Tidal Turbines has agreed to acquire Swanturbines Intellectual Property, including its patented subsea tidal turbine technology and deployment methods for an undisclosed amount.

"For a long time, Tocardo has been impressed by Swan's technology, which is complementary to our own tested tidal energy technology," commented Hans van Breugel, CEO of Tocardo. "In particular, Swan's installation technology is an important addition to our portfolio and offering to our clients."

Swanturbines generate electricity from ocean currents by way of a proprietary method of mounting the turbines to a support structure.

The take-over of Swanturbines IP will accelerate the expansion of Tocardo's Dutch and international tidal energy business.

The Netherlands-based company has already closed deals to sell its technology in Nepal and to install tidal turbines in the UK, Canada and South Korea with a total capacity of over 50MW. It was recently appointed as one of two preferred partners to supply tidal turbines for a major new renewable energy initiative near the Isle of Man.

Last week, Tocardo installed three of its T1 tidal turbines in the Dutch 'Afsluitdijk', a 32 km-long primary sea defence, with a capacity of more than 300 kW, producing electricity for about 100 households. Another Tocardo tidal turbine installed in the Afsluitdijk has already been producing electricity for more than six years.



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