Tocardo strengthens management with finance appointments

 
Dutch company Tocardo Tidal Power has strengthen its management board with two key hires.

Henk Kasteleijn has joined the company as Chief Financial and Operating Officer, bringing over 20 years of general and financial management experience with two leading multinationals in the innovative technology sector, according to Tocardo.

Also joining Tocardo is Ruud Nijs in the role of Project Finance Director. With over 25 years of experience, Nijs is very well and personally connected on decision-making level in all parts of the Dutch Economy and in the developing world, Tocardo said.

Hans van Breugel, Chief Executive Officer of Tocardo, said: “I am very pleased that we have attracted two managing board members of this caliber to join Tocardo’s diverse and talented executive team. The demand for tidal power is increasing and therefore also the demand for working capital for the projects.”

Tocardo has the exclusive rights for the development of five tidal projects in the United Kingdom – at the Fall of Warness in Scotland, and also in Wales, as well as and in the Netherlands as part of Delta works.

The company’s new standard product – the Universal Foundation System (UFS) – is ready for commercial rollout, according to Tocardo.

The first offshore system with the UFS will be installed at the European Marine Energy Centre (EMEC) in Scotland where Tocardo has a license for operation on a commercial basis for a period of 20 years.