MCT Appoints New Chief Executive Officer

Siemens-owned Marine Current Turbines Ltd (MCT) appointed Sven Stoye as new Chief Executive Officer, effective from 1st March 2014.

MCT Appoints New Chief Executive Officer

Stoye has over 15 years of experience in the energy sector and joins MCT from Siemens Power Generation division where he was Vice President for Engineering for all disciplines involved in the engineering, procurement and construction of turnkey combined cycle power plants in Asia, Near Middle East and Africa during all project phases.

Previously he held a number of senior management roles within Siemens AG, Europe’s largest engineering company. He was Head of Process Engineering, Instrumentation & Control and Head of Commissioning Department for the Siemens Fuel Gasification Technology (SFGT). His work included product responsibility for SFGT entrained flow gasifier (for research, development and customer projects), technical sales support, technical project execution and commissioning service.

Stoye graduated from Beuth University of Applied Sciences in Berlin with a degree in Mechanical Engineering. In 1999 he joined the Siemens Graduate Programme for two years after which he held various engineering positions within Siemens.

About joining MCT Sven Stoye said: “I am passionate about green technology and I strongly believe that MCT has a bright future. As MCT is a pioneer in tidal energy development, I am proud to become part of MCT’s ongoing development. There is no doubt that we, as a population, need to find long term sustainable means of producing electricity. This means making more effort to efficiently utilize the natural resources currently available, and also looking for alternative energy sources right now. We need to invest and develop technologies now to ensure an economical solution is available when tidal energy is really needed in the market.”

Press Release, March 25, 2014
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