Tocardo Tidal Turbines, a producer of tidal and free-flow water turbines, and Climex, the trading platform for renewable energy and carbon credits, have agreed to sell energy generated by Tocardo's turbines through Climex's green energy trading platform.
The recently signed agreement will enable businesses and other large-scale electricity users to add tidal energy to their renewable energy mix.
“Our agreement with Climex will make tidal energy readily available to corporations and government agencies at competitive prices," said Hans van Breugel, CEO of Tocardo. "This is an important step in Tocardo's efforts to create a well-functioning market for tidal energy, which can provide 10% to 20% of the world's demand for electricity."
Jeroen van de Kletersteeg, General Manager of Climex, added: "Electricity generated by Tocardo's turbines is demonstrably sustainable and is a welcome expansion of our proposition. The agreement with Tocardo fits our strategy to provide renewable energy sources to high-energy users in a transparent and reliable way."
Tidal energy is a young and promising segment of the renewable energy market and demand is growing worldwide. Tocardo is one of the world's first companies that commercially manufactures and sells tidal turbines to be used in rivers and off shore tidal waters to generate electricity.
Tocardo recently secured investment from Huisman, specialists in offshore technology, and Spanish energy company Repsol allowing the company to scale up its turbine production.
