QED Naval launches crowdfunding campaign

QED Naval launches crowdfunding campaign

Edinburgh-based marine energy firm QED Naval has launched a crowdfunding campaign to complete the deployment of its Subhub tidal platform and Tocardo turbines at Yarmouth Tidal Test Centre.

QED Naval’s Subhub platform (Courtesy of QED Naval)

QED launched the campaign, valued at £15 million, on the Seedrs platform, and is looking to supercharge its growth by bringing investors on board as shareholders.

“With the UK government now investing £300m over the next 15 years in tidal energy, and another funding round imminent, tidal energy has a bright future,” the company said.

“This fundraising round will allow us to get going on all the incredible initiatives we have planned for the future.”

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QED Naval’s Subhub is 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.

The company is, through the EU-backed Interreg TIGER project, testing and proving the capabilities of its community demonstrator Subhub unit followed by the design, development and fabrication of its industrial demonstrator Subhub (ID), which will generate approximately 1MW of electricity.

The integration of three Tocardo T1 tidal energy turbines on the Subhub platform took place at the end of 2021.

The mounted turbines feature smart reverse system which enables them to operate in opposite tidal flows for bi-directional power production.

The upcoming trials will seek to demonstrate how tidal energy can be quickly and cost-effectively deployed and maintained over large distances and a broad range of weather conditions, and will serve for the validation of associated design tools and processes.

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