Tocardo Tidal Turbines, producer of tidal and free-flow water turbines, has acquired IHC Tidal Energy, the tidal energy division of Dutch maritime company Royal IHC. The take-over will accelerate the expansion of Tocardo’s Dutch and international tidal energy business. Financial details of the transaction were not disclosed.
“The acquisition of IHC Tidal Energy is a meaningful expansion of our product offering and will enhance our capacity to acquire and implement tidal energy projects across the globe,” said Hans van Breugel, CEO of Tocardo. Specifically, the acquisition allows Tocardo to offer clients both vertical-ax turbine and horizontal-ax turbine technologies. 1 This gives Tocardo’s clients the ability to fully exploit the energy potential of fast-flowing sea currents, Breugel added.
For IHC Tidal Energy, the purchase means the company can now focus on its core activities.2 As Bram Roelse, CEO of Royal IHC, explains: “IHC Tidal Energy is a stable and healthy company, but its activities no longer fully fit Royal IHC’s strategy.”
Tocardo’s purchase of IHC Tidal Energy follows on the heels of the signing of a memorandum of understanding for the delivery of tidal turbines with a total capacity of 28MW to South Korean energy company Ekornergy. Tocardo also made headlines earlier this month when it was appointed by the Isle of Man Government as one of its two preferred partners to supply tidal turbines for a major new renewable energy initiative.
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- IHC Tidal Energy has developed a tidal turbine with a vertical ax, which after several test trials is nearing readiness for the commercial market. For several years Tocardo has been manufacturing tidal turbines with a horizontal ax. This technology has been sold to Nepal to generate electricity in the country’s fast-flowing rivers.
- Royal IHC, which is focused on the continuous development of design and construction activities for the specialist maritime sector, is known for its expertise in efficient dredging and mining vessels and equipment.