Wednesday, 24 September 2008

Marine Current Turbines Voted in Top Ten Clean Tech

Bristol based tidal energy company Marine Current Turbines is celebrating being voted in the “top 10” of Europe’s top clean technology companies in The Guardian/Library House “Clean Tech 100 Survey”.

Marine Current Turbines (MCT) was ranked 5th overall by a team of prominent business analysts and venture capitalists who were tasked with identifying Europe’s most innovative clean tech firms. Although a number of wave and tidal energy companies made it to the top 100, MCT was the highest placed in its sector.

This comes in recognition of MCT’s pioneering work as a first mover in the marine renewables sector, and endorses the company’s position as the leading developer in tidal stream technology after installing the world’s first commercial sized tidal stream turbine, the 1.2MW SeaGen, earlier this year in Northern Ireland’s Strangford Lough.

“We are all very pleased at being voted into Europe’s clean tech top 5. The recognition is very welcome during a year in which we have deployed SeaGen. We are focused on making tidal energy a commercial reality which is exciting for us, our investors as well as governments and the major utilities. We are now completing the commissioning on SeaGen, as well as moving ahead with our plans to develop the world’s first utility scale tidal farm off Anglesey in the Skerries.”
Peter Fraenkel, Technical Director, Marine Current Turbines

MCT’s Skerries project is a joint initiative with npower renewables to develop a 10.5MW tidal farm using seven upgraded SeaGen systems off the coast of Anglesey, north Wales. It is planned that the tidal farm will be commissioned around 2011/2012. The company is also investigating the potential for tidal energy schemes in other parts of the UK, and in North America.

The Guardian/Library House survey was published on September 18th. The Guardian/Library House CleanTech 100 highlights a group of the most promising private companies in Europe focusing on clean technology, with companies selected on the basis of their potential for future growth and beneficial environmental impact. An initial list of 200 was selected from the Library House’s CleanTech Intelligence database of private clean tech companies, using various indicators such as each company's capital history, positive news stories, and size of management team, plus an analyst selection to make sure companies were credible. Expert advisory board members were then invited to nominate further companies to ensure the net was thrown widely enough. The advisory panel consisted of some of Europe's most experienced investors in the growing area of clean technology - a mix of venture capitalists, investment analysts and technology lawyers.

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