Photo: MAKO tidal turbine (Courtesy of Mako Tidal Turbines)

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New investor throws a lifeline for MAKO’s tidal technology

A new group has acquired the business assets of the Australian tidal energy project and technology company MAKO Tidal Turbines following its voluntary entry into administration late in 2020.

“Whilst the MAKO brand has been discontinued, the technology will live on as will the vision: to broaden and improve the energy mix wherever there is free-flowing water”, said Michael Parkinson, communications director for MAKO Tidal Turbines, in a business development update related to the company’s administration and restructuring procedure.

Namely, MAKO Tidal Turbines appointed Adam Preiner as an administrator in September 2020 to handle the process after the Sydney-based company filed for bankruptcy.

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