Tocardo Tidal Turbines has expanded its operations in the Netherlands by acquiring Royal IHC’s tidal division.
“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,” says Hans van Breugel , CEO of Tocardo.
Tocardo builds tidal turbines with a horizontal axis, which have been delivered to tidal projects on a commercial basis for a long time, unlike the tidal turbines with vertical axis, developed by IHC Tidal Energy, which are close to the stage of commercial application.
Since vertical axis turbines are more suitable for some offshore locations, than the turbines with horizontal axis, Tocardo can exploit the energy potential of the sea even better by offering both options.
Bram Roelse , CEO of Royal IHC: “With this transaction we enhance our focus on our core activities. IHC Tidal Energy is a stable and healthy company, but its activities no longer fully fit Royal IHC’s strategy.”
The financial details of the transaction were not disclosed.
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Press Release; Image: IHC Tidal Energy