QED Naval eyes new operations base on UK’s south coast
Scottish marine energy specialist QED Naval is looking to establish its mainland operations base on the UK’s south coast.
QED Naval has started early-stage discussions for the establishment of its mainland operations base on the southern coast of the UK, which will serve to accommodate its current work requirements as well as future plans.
With its own Tidal Test Centre at Yarmouth on the Isle of Wight, and being part of the EU’s ambitious €45.4 million Interreg TIGER project, QED Naval sees the south coast as pivotal to its future plans for expansion and development with access to great resources, skills, and in terms of projects as well.
The Solent – a strait between the Isle of Wight and Great Britain – has been a traditional stronghold of the maritime industries ever since Tudor times, according to the company.
“There is access to major tidal markets such as the Isle of Wight, The Channel Islands, and France. QED Naval has already been busy looking at key sites in these areas and is in early-stage discussions after completing feasibility studies for project developers, island communities, and wider industry,” the company said.
The move follows the UK government’s recent auction round (AR) 4 funding announcements and the looming AR5 round, as QED Naval aims to positions itself with sites and project pipelines to maximize what is ultimately a £76 billion global market.
QED Naval’s flagship product is the Subhub platform – a submersible, gravity-based, foundation platform that has been designed to support the commissioning, testing, transportation, and installation of an array of wave and tidal turbines to the seabed.
To remind, QED is currently running a crowdfunding campaign on Seedrs platform, which has so far brought in £1.24 million (€1.43 million) for the company in investment commitments.
The campaign, already 248% oversubscribed with 1,387 investors on board, has been once again extended by company due to high level of interest from additional investors.
“QED Naval has seen a high level of investor interest in the past few days and unfortunately, some have not had the opportunity to invest due to the bank holidays. Therefore, we have decided to extend our Seedrs campaign so that you can take part in bringing tidal energy to the renewable energy mix, which will ultimately impact climate change,” the company said in a statement.