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Statement on TIDAL STREAM AND WAVE ENERGY COST REDUCTION AND INDUSTRIAL BENEFIT report by ORE CATAPULT.

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Scotrenewables Tidal Power, the leading developer of floating tidal energy systems, welcomes the TIDAL STREAM AND WAVE ENERGY COST REDUCTION AND INDUSTRIAL BENEFIT report, published by ORE Catapult today.  Speaking at All-Energy in Glasgow, Andrew Scott, Chief Executive Officer of Scotrenewables Tidal Power said, “

 “The ORE Catapult study presents a hugely compelling case to implement structured commercial markets for tidal energy that will enable the investment required to build the tidal energy industry in the UK. The report validates our own cost analysis of our 2MW SR2000 turbine which has been successfully operating at EMEC over the past year.

This is an industry with an existing supply chain which can grow substantially more if the right market framework is put in place. There is a massive opportunity to build the tidal sector in the UK and a global export industry, based around skills and technology. And let’s not forget that this industrial opportunity can be realised whilst capturing the environmental, economic and security benefits which come from a predictable renewable energy source.”

 

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Media Enquiries: James Murray, Business Development Manager, Scotrenewables Tidal Power

This email address is being protected from spambots. You need JavaScript enabled to view it.

Tel. 01856 851641

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PRESS RELEASE: Scotrenewables powers through winter storms.

Performance statistics released by Orkney based Scotrenewables Tidal Power confirm its SR2000 tidal current turbine delivered impressive generation throughout heavy North Atlantic storms which battered the Orkney Islands in late autumn and early winter.

During this period, the surface floating SR2000 endured wave heights in excess of 7m. The turbine also managed to maintain continuous generation in sea states of over 4m significant wave height and maintained 2MW rated power in seas of 2m significant wave height – demonstrating the turbine is capable of generating through around 99% of conditions experienced at the Orkney site.

Scotrenewables has been testing its SR2000, the world’s most powerful tidal stream turbine,  at EMEC’s Fall of Warness test site since August 2017 and the SR2000 will continue to run through 2018.  Over the past five months, the SR2000 has generated in excess of 1.2GWh.

Speaking on the performance Scotrenewables CEO, Andrew Scott, said: “This is only our first winter operating the 2MW unit and we are already fully validating the strong performance and stability of the turbine in really harsh conditions.”

The company has also confirmed that it has only been using low cost vessels for all turbine maintenance and inspections through the period, and has demonstrated service response times of under 1 hour along with ship-to-turbine crew transfers in up to 2m significant wave heights. In reference to this Scott said: “Low cost tidal energy is dependent on being able to maintain turbines cost effectively and maximise generator up time. With our locally stationed service team using small boats, as well as ability to access the turbine in a range of sea conditions, we are proving Scotrenewables have this essential capability with our technology and approach.”

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Media contacts at Scotrenewables Tidal Power Ltd:

James Murray, Business Development Manager: 01856 851641 / This email address is being protected from spambots. You need JavaScript enabled to view it.

Paul Taylor, Taylor Keogh Communications: 020 8392 8250 / This email address is being protected from spambots. You need JavaScript enabled to view it.

For Scottish media enquiries, David Budge:  0141 249 0396 / This email address is being protected from spambots. You need JavaScript enabled to view it.

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SR2000 2017 TEST PROGRAMME HIGHLIGHTS FILM

https://www.youtube.com/watch?v=2h1SS9CN088

 

ABOUT SCOTRENEWABLES TIDAL POWER:

Scotrenewables Tidal Power Limited is an innovative Scottish engineering company focused on the development of a tidal energy turbine technology with the potential to produce a step-change reduction in the cost of energy from tidal currents.  The company’s novel floating technology offers a low cost solution for simplified and safe manufacture, installation, access and maintenance along with the ability to use low cost, small workboats for all offshore operations. The company currently employs 26 staff with offices in Orkney and Edinburgh.

The technology has been under continuous engineering development, including rigorous testing of scaled systems in both tank conditions and open ocean environments, since the company was founded in Orkney in 2002.  In 2012 the company achieved a world’s first when it exported power to the UK grid from its 250kW floating scale model.

The current SR2000, the world’s largest operating tidal turbine, was launched from the Harland & Wolff shipyard, Belfast, in May 2016 before being towed to Orkney.

The SR2000 project has been supported by Scottish Enterprise’s WATERS II scheme along with investments from Scotrenewables’ shareholders which include ABB, DP Energy, Fred Olsen, Total and Scottish Government via the Renewable Energy Investment Fund (REIF). The testing programme at EMEC is supported via the FORESEA Interreg-NWE funded project.

Scotrenewables has been selected by the European Commission to lead on the engineering and delivery of an enhanced model of the SR2000 machine. Leveraging £7m Horizon 2020 funding Scotrenewables will lead an industrial consortium to optimise the SR2000 under the “FloTEC” project which is scheduled to run until 2019. 

More info at: website www.scotrenewables.com

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Highlights for 2017 SR2000 Test Programme

Highlights for 2017 SR2000 Test Programme

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PRESS RELEASE: Scotrenewables Tidal Power hits 1GWh in record time at EMEC, Orkney.

Scotrenewables Tidal Power has set another record with its SR2000 2MW floating tidal turbine with the unit clocking up over 1GWh in a record pace for the European Marine Energy Centre (EMEC) in Orkney.

Andrew Scott, Chief Executive Officer of Scotrenewables Tidal Power said: “This is an astonishing achievement by our technology and by the Scotrenewables team who have worked so hard to make it happen.”

“I’m comfortable in highlighting we have had a small number of outages within this period, including where we have had to make maintenance interventions but, because of the accessible nature of our technology, we have been able to respond to these quickly and with very low cost vessels, validating the engineering approach we have pioneered here at Scotrenewables.”

The SR2000, the company’s first full scale turbine, was launched last year from the Harland and Wolf shipyard in Belfast before being towed to the Orkney Islands for grid connected testing. Initial generation started earlier this year and the company quickly set a world record with the highest export level from a tidal turbine of 2.2MW.

Commenting on the SR2000’s performance, Neil Kermode, Managing Director of EMEC said: “It is exhilarating to witness the unprecedented performance of Scotrenewables’ tidal turbine.  It is clear and demonstrable progress for the team, but it is also progress for this exciting and innovative sector as a whole as it moves towards commercialisation.”

Scotrenewables recently announced it had appointed financial advisors, Simmons & Company Ltd, to assist with a fund raising effort to support the business transition to commercial operations. With reference to the recent performance the company’s Chief Finance Officer Chris Milne said: “We are confident we have a very unique and exciting proposition here at Scotrenewables, and this latest performance further underlines that and is accelerating commercial demand for our technology.”

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Media contacts at Scotrenewables Tidal Power Ltd:

James Murray, Business Development Manager: 01856 851641 / This email address is being protected from spambots. You need JavaScript enabled to view it.

Paul Taylor, Taylor Keogh Communications: 020 8392 8250 / This email address is being protected from spambots. You need JavaScript enabled to view it.

For Scottish media enquiries, David Budge:  0141 249 0396 / This email address is being protected from spambots. You need JavaScript enabled to view it.

 

ABOUT SCOTRENEWABLES TIDAL POWER:

Scotrenewables Tidal Power Limited is an innovative Scottish engineering company focused on the development of a tidal energy turbine technology with the potential to produce a step-change reduction in the cost of energy from tidal currents.  The company’s novel floating technology offers a low cost solution for simplified and safe manufacture, installation, access and maintenance along with the ability to use low cost, small workboats for all offshore operations. The company currently employs 26 staff with offices in Orkney and Edinburgh.

The technology has been under continuous engineering development, including rigorous testing of scaled systems in both tank conditions and open ocean environments, since the company was founded in Orkney in 2002.  In 2012 the company achieved a world’s first when it exported power to the UK grid from its 250kW floating scale model.

The current SR2000, the world’s largest operating tidal turbine, was launched from the Harland & Wolff shipyard, Belfast, in May 2016 before being towed to Orkney.

The SR2000 project has been supported by Scottish Enterprise’s WATERS II scheme along with investments from Scotrenewables’ shareholders which include ABB, DP Energy, Fred Olsen, Total and Scottish Government via the Renewable Energy Investment Fund (REIF). The testing programme at EMEC is supported via the FORESEA Interreg-NWE funded project.

Scotrenewables has been selected by the European Commission to lead on the engineering and delivery of an enhanced model of the SR2000 machine. Leveraging £7m Horizon 2020 funding Scotrenewables will lead an industrial consortium to optimise the SR2000 under the “FloTEC” project which is scheduled to run until 2019.  

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PRESS RELEASE: Scotrenewables Tidal Power kicks off new funding round

Scotrenewables Tidal Power, the developer of the largest and most powerful tidal current turbine in the world, its 2MW floating SR2000, is embarking on a new funding round to take forward its tidal technology towards commercialisation. It has appointed financial advisors Simmons & Company International, the energy specialists of US Investment Bank Piper Jaffray, to lead the investment process out of its Aberdeen office.

The move follows a successful test programme over the past 12months, culminating in the SR2000 producing more than 116 MWh in under a week of continuous generation at EMEC, the European Marine Energy Test Centre in Orkney. The grid-connected turbine supplied 7 % of Orkney’s electricity demand over this time with shorter periods where that contribution exceeded 25% of demand.  In recent days, the SR2000 has been generating more than 20MWh per day, including 6MWh in a single tide.

Andrew Scott, CEO of Scotrenewables Tidal Power said: “Given the significant progress we are making with our SR2000 floating tidal system, and our pipeline of projects in UK and overseas waters, we have appointed Simmons & Company International in Aberdeen to assist us with a funding round to secure new equity investment. This new investment will support the completion of our commercialisation programme and deliver our first commercial tidal arrays.”

Simmons & Company International is one of the largest and most experienced investment banking teams in the energy industry, offering M&A advisory, capital markets execution and investment research.

Media contacts at Scotrenewables Tidal Power Ltd:

James Murray, Business Development Manager: 01856 851641 / This email address is being protected from spambots. You need JavaScript enabled to view it.

Paul Taylor, Taylor Keogh Communications: 020 8392 8250 / This email address is being protected from spambots. You need JavaScript enabled to view it.

For Scottish media enquiries, David Budge:  0141 249 0396 / This email address is being protected from spambots. You need JavaScript enabled to view it.

Investment contacts at Simmons and Company International:

Nicholas Dalgarno, Managing Director: 01224 202300 / This email address is being protected from spambots. You need JavaScript enabled to view it.

Fraser Dobbie, Vice President: 01224 202300 / This email address is being protected from spambots. You need JavaScript enabled to view it.

 

ABOUT SCOTRENEWABLES TIDAL POWER (www.scotrenewables.com) :

Scotrenewables Tidal Power Limited is an innovative Scottish engineering company focused on the development of a tidal energy turbine technology with the potential to produce a step-change reduction in the cost of energy from tidal currents.  The company’s novel floating technology offers a low cost solution for simplified and safe manufacture, installation, access and maintenance along with the ability to use low cost, small workboats for all offshore operations. The company currently employs 26 staff with offices in Orkney and Edinburgh.

The technology has been under continuous engineering development, including rigorous testing of scaled systems in both tank conditions and open ocean environments, since the company was founded in Orkney in 2002.  In 2012 the company achieved a world’s first when it exported power to the UK grid from its 250kW floating scale model.

The current SR2000, the world’s largest operating tidal turbine, was launched from the Harland & Wolff shipyard, Belfast, in May 2016 before being towed to Orkney.

The SR2000 project has been supported by Scottish Enterprise’s WATERS II scheme along with investments from Scotrenewables’ shareholders which include ABB, DP Energy, Fred. Olsen, Total and Scottish Government via the Renewable Energy Investment Fund (REIF).

Scotrenewables has been selected by the European Commission to lead on the engineering and delivery of an enhanced model of the SR2000 machine. Leveraging £7m Horizon 2020 funding Scotrenewables will lead an industrial consortium to optimise the SR2000 under the “FloTEC” project which is scheduled to run until 2019.