Tidetec scoops All-Energy award

Norwegian tidal energy developer Tidetec has won the marine renewables investment challenge that took place as part of this year’s All-Energy conference.

Tidetec, who presented its tidal lagoon ‘two-way hydropower’ technology, has won £10,000-worth of advice from lawyers, stockbrokers, investment bankers, accountants communications experts and marketers.

The company competed with 4 other finalists in a challenge masterminded by Atlantis Resources’ CEO, Tim Cornelius, who was not able to be present the award.

In his remarks, read by All-Energy’s Conference Project Director, Judith Patten, Cornelius said:

“We want to thank all of the participants and we will directly contact each of them with detailed feedback from the judges. However, there can be only one winner, and this year, the panel selected Joachim Amland from Tidetec from Norway.

“The panel was impressed by the clearly set out investment proposition, the quality of the business plan and presentation, the realistic valuation and the path set out to commercialization.”

Tidetec will benefit from the specially tailored workshop, sponsored by Atlantis, with the aim of building its business plan that would assist the company in raising funds.

Other finalists included Fraenkel-Wright’s SuperTide Gen 6MW tidal turbine; Ocean Energy Advisors’ Innovation at the interface of technology, policy and finance; Oceanflow Energy’s Starfloat floating wind turbine, and SAITEC Offshore Technologies’ SATH.