In 2003, Hammerfest Strøm installed the world’s first tidal current turbine in Kvalsundet, Norway, with permanent connection to the electricity grid. Based on this successful prototype, the company is currently collaborating with Scottish Power Renewables (part of Iberdrola Renewables) on the manufacture of a 1MW tidal current turbine to be deployed at the European Marine Energy Centre (EMEC) in Orkney, Scotland, in 2011. This plant provides the core technology for installation of a first commercial underwater energy array from 2012.

In addition to andritz, international energy group Statoil, Norwegian power utility Hammerfest Energi, and Spanish utility company Iberdrola are the main shareholders in Hammerfest Strøm.