Scotrenewables Tidal Power Limited (SRTP) was established in 2002 by Offshore Engineering graduate Barry Johnston, who began to explore marine renewable energy as part of his PhD. His aim was to commercialise his design of an innovative floating tidal energy converter. This concept quickly caught the attention of key players in the energy industry, and after intensive scrutiny, oil and gas major TOTAL and renewable energy developer Fred. Olsen Renewables invested heavily in the Scotrenewables Tidal Turbine (SRTT) research and development programme, followed by further investment by ABB Technology Ventures in 2012
SRTP have also received vital financial support from the UK and Scottish Government to take forward the development of the tidal turbine concept. Indeed for every £1 of government funding SRTP has received, the company has successfully secured over £4 of international private investment.
SRTP has worked hard to secure knowledgeable corporate partners who bring strong added-value support in addition to financial support. The result is one of the strongest investor partnerships in the marine renewables sector between Scotrenewables and the extensive maritime experience of the Fred Olsen group, ABB and energy company TOTAL.
SRTP now employ a team of highly dedicated experts at its purpose built base in Stromness. The culmination of intensive work over the past ten years has led to the construction of the SR250 prototype.