Aquamarine Power Ltd today announced a significant investment in Ocean Flow Energy Ltd, to secure a new technology to produce energy from deep water tidal resource. The investment compliments Aquamarine Power’s existing technologies and will further strengthen its position in the marine renewable energy sector.Aquamarine Power already boasts a strong, diverse portfolio of marine energy converters; Oyster®, its hydro-electric wave power device, is due for installation at the European Marine Energy Centre (EMEC) next year.

Aquamarine Power’s tidal stream energy converter, Neptune^TM is currently the world’s largest under development at 2.4MW. The Neptune power conversion nacelles will be demonstrated on a pile-mounted structure at 30m water depth.

The Ocean Flow Energy device - currently known as Evopod^TM - is a moored semi-submersible structure designed to generate electricity in exposed, deep water sites. The device’s patented low motion hull is innovative in that it makes it suitable for operation in harsh environments, such as the Pentland Firth.

Ultimately this unique structure could be used to mount Aquamarine Power’s Neptune nacelles - opening up the whole of the UK’s tidal stream resource for exploitation using Aquamarine Power’s technologies.

Ocean Flow Energy has successfully partnered with the New and Renewable Energy Centre (NaREC), Blyth and the award-winning wave and tidal power research group at Queen’s University Belfast. Both parties have played a pivotal role, supporting Ocean Flow Energy with the deployment of a 1/10th scale prototype at Portaferry, Strangford Narrows, Northern Ireland; a major development milestone.

Graeme Mackie said, “We have made significant progress with the device to date, taking it out of the tank and into real tidal flow conditions at Strangford. Together with Aquamarine Power we are looking forward to launching a second, full scale device at sea.

“This is a major milestone on the path to commercialisation for Ocean Flow Energy and demonstrates the confidence that people have in the device and its potential to create clean, green energy”.

Martin McAdam, CEO of Aquamarine Power, said, “We are very enthusiastic about the new partnership with Ocean Flow Energy and are delighted to be working with the team. It is an important step toward accessing the full range of tidal stream energy out there.

“With more than 50% of the UK’s tidal resource located in waters greater than 40 metres deep, the market demand for Evopod is expected to be very strong and Aquamarine Power will be taking full advantage of that.”