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'Outstanding Achievement' Award

Our CEO, Barry Johnston, was recently awarded the 2013 Lennard – Senior Prize in recognition of outstanding individual achievement in the field of Marine Renewable Energy.   The Lennard prize, awarded by The Society for Underwater Technology (SUT), a multi-disciplinary learned society that brings together organisations and individuals with a common interest in underwater technology, ocean science and offshore engineering and was presented to Barry at the recent All Energy Exhibition in Aberdeen.

www.sut.org.uk

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EtherCAT in a tidal turbine......

Scotrenewables uses integrated control solution from Beckhoff..........Click here

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The Future Generation of 'Clean Energy from the Sea' - 29 May 2013

Scotrenewables were delighted to host a group of pupils from Sanday Junior High School this week at our Wave Test Centre facility in Stromness.   The pupils were testing their own generating wave device – “The Urchin” in the test tank. Their work has already taken them to the finals of this year’s Junior Saltire Prize, a marine energy themed award scheme for primary and secondary pupils throughout Scotland, and we wish them luck for the Final on 14 June 2013.

Their visit coincided with the Crown Estate’s launch of their new offshore renewables education project “Clean Energy from the Sea”. The pilot programme will initially involve several Orkney secondary schools and builds on some of the innovative work already done. The Crown Estate’s Scottish Commissioner Gareth Baird said, “The Pentland Firth & Orkney Waters projects have the potential to power up to a million homes and provide a tremendous economic boost. We want to help ensure the businesses and skills are available locally to take advantage of these benefits. This project not only helps to develop the skills needed, but fires the imagination of our young people in a way that will open up further opportunities for the future”.

 Sanday School Visit - May 2013

Testing “The Urchin” in Scotrenewable’s wave test tank in Stromness

(Sanday pupils are joined by the Crown Estate's Chief Executive, Alison Nimmo, and Scottish Commissioner, Gareth Baird, OIC Councillor Harvey Johnston and Mark Hamilton and Laurence Fahrni of Scotrenewables Tidal Power Ltd)

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Further Testing Success - May 2013

The company's SR250 prototype has just completed a 6 week continuous deployment at the EMEC tidal test site.  The turbine continued to exceed expectations - operating in strong current and significant swell conditions without any failures.

The test programme has clearly demonstrated the potential of SRTP's floating tidal turbine technology to deliver significantly reduced Costs of Energy compared to seabed-mounted turbines, due to rapid low-cost installation and greatly simplified onsite and harbour-side access and maintenance. 

Testing of the SR250 is due to continue until the end of 2013 when the company will then turn its focus to its next-generation commercial demonstrator turbine. 

 Onsite 15 April 13 

Image: SR250 prototype connected at Fall of Warness tidal test site in Orkney - April 2013

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Major New Investment Announced - 13 December 2012

Scotrenewables Tidal Power Limited is pleased to announce that it has agreed terms in respect of a major financing package totalling £8.84m which includes £1.24m in public funding from the Scottish Government as well as £7.6m in private investment from a trio of multi-national backers. The deal will see both of SRTP's long-standing investors, shipping and renewable energy specialists Fred. Olsen and oil major TOTAL, participating in this round along with a new investor partner in ABB Technology Ventures. ABB-TV is the venture capital arm of the Swiss power and automation multinational and its decision to invest will allow SRTP access to ABB expertise in key technical areas which complement the offerings of SRTP's existing investors.

Under the terms of the £7.6m investment deal ABB-TV will contribute £5m while the remaining £2.6m will come from SRTP's existing investors. These funds will be injected in two equal tranches the second of which will be linked to the ongoing technical progression of SRTP's proprietary technology. The £1.24m in funding awarded to SRTP in August 2012 under the Scottish Government WATERS 2 scheme was critical in leveraging the agreed terms for this substantial amount of foreign private investment.

The official announcement on the investment deal was made by Scottish First Minister Alex Salmond during First Minister’s Questions at the Scottish Parliament. First Minister Alex Salmond said:

“Scotrenewables' announcement today of the details of their foreign investment package worth £7.6 million is terrific news and a huge vote of confidence in the Scottish offshore renewables industry.

This deal brings in a substantial amount of private funding from overseas - more than £6 in foreign investment for every £1 of public money. It is another example of how public money can be used to leverage private investment and help support industry to reach ever-more ambitious heights.

I welcome this investment, which is further evidence of Scotland surging ahead in the green energy revolution."

The financing will fund the design, construction, installation and testing of the next generation commercial-scale Scotrenewables Tidal Turbine – rated at 2MW and known as the SR2000. This turbine, which is scheduled for completion in Spring 2014, will incorporate learning from successful grid-connected testing of the 250kW prototype currently ongoing at the EMEC Fall of Warness tidal test site and will be optimised for a fully commercial 20-year design life. The SR2000 will be the first of a number of commercial SRTT units installed in the Lashy Sound tidal demonstrator project in Orkney which was awarded ‘Agreement for Lease’ by the Crown Estate in early November 2012.

Quotes:

Barry JohnstonFounder & Chief Executive Officer: “It is very positive not only that we have agreed terms in respect of a significant new investment from ABB-TV but also that our existing investors will be participating in this investment round. This is a major step on the road to making the company a real clean-energy success story.”

Mark Hamilton – Chief Technical Officer: “This addition of a new ‘technology partner’ to an already enviable investment team will give us the best possible backing as we progress the commercialisation of our innovative tidal technology. ABB involvement will allow us to tackle complex cabling and grid connection challenges thereby speeding the technology development process.”

John McGlynn – Business Development Manager: “The decision of ABB to invest in Scotrenewables Tidal Power Limited is a resounding endorsement of both the SRTT concept and the team that is developing it. The company already enjoys the backing of oil major TOTAL and Fred. Olsen Companies but now will also have access to ABB technical expertise, its highly developed supply chain network and global sales channels.”

Photo:

Announcement resized

Scottish First Minister Alex Salmond with (from left to right) John McGlynn - SRTP,  Bill McLaughlin - ABB Group,  Barry Johnston - SRTP,  Jeremy Sainsbury - representing existing investors Fred. Olsen and TOTAL & Mark Hamilton - SRTP