UK gas producer invests in tidal power with stake in Spiralis Energy

UK gas producer Kistos Holdings has taken a stake in Spiralis Energy, a compatriot tidal power company, as part of its sustainability drive to support next-generation renewable technologies.

According to Kistos Holdings, the company’s investment supports Spiralis Energy’s Axial Skelter tidal power solution, a next-generation tidal generator built from recyclable, 3D-printed segments that can be produced in under a week.

The modular design of Axial Skelter enables individual segments to be easily transported, maintained, and replaced, delivering flexibility and efficiency in tidal energy generation, the company stated. With Kistos’ financial backing, Spiralis plans to conduct long-term survivability testing of the Axial Skelter, a step toward potential widescale deployment of the technology.

“Kistos is committed to supporting the energy transition and believes this can be done whilst exposing shareholders to asymmetric value accretive opportunities,” said Andrew Austin, Executive Chairman of Kistos.

“Our investment in Spiralis follows extensive due diligence on the business, its technology and commercial strategy and the tidal power sector and current market participants. Providing financial backing at this stage, with imminent final testing and the potential for commercial deployment shortly thereafter, meets our risk profile for this investment.”

Kistos has acquired up to a 20% equity interest in Spiralis Energy through a combined 10% equity stake and 10% warrants, totaling £800,000 (approximately $1,030,976), and retains the right to have board representation.

“Whilst as a management team our priority remains to seek value accretive opportunities in hydrocarbons, this investment offers a path to meet our stated sustainability commitments in conjunction with providing direct upside exposure and influence not available with traditional offsetting initiatives.”

Axial Skelter is a tidal energy device inspired by the Turritella seashell. Engineered with a unique single moving part, the 3D-printed, fully recyclable design prioritizes marine life safety with slow rotation and no sharp edges.

According to Spiralis Energy, each Axial Skelter unit can be manufactured in less than a week and is suitable for on-site assembly. Designed for easy in-situ maintenance at slack tide, it eliminates the need for support vessels most other tidal turbines require.

The Axial Skelter’s positioning at the top of the water column enables deployment close to shore, accommodating any water body with a minimum flow rate of 1 m/s and sufficient depth. Unlike conventional seabed-mounted systems, the Axial Skelter’s adaptability allows for use in both offshore tidal flows and large rivers, cutting operational costs and broadening deployment possibilities, Spiralis Energy noted.

In October, marine technology consultant Cape Horn Engineering validated its computational fluid dynamics (CFD) analysis for Spiralis’ Axial Skelter tidal test rig, with results showing less than a 1.5% deviation from experimental data.

In July, the tidal energy developer revealed its intention to bid for a 15-year contract with the UK Government as a part of contracts for difference (CfD) 2025 to integrate its technology into the national grid. A site in Wales has already been identified for the project if successful.

Ocean Energy Europe (OEE) appointed two new members to its Board of Directors in early September, of which, one appointee comes from Spiralis Energy.