IHC Merwede to bring new tidal energy technology to market

IHC MerewedeJUNE 6, 2012 —IHC Merwede is getting into the tidal energy market. It has signed an agreement to acquire Wave Rotor technology from Ecofys.

With this acquisition, IHC Merwede is secured highly developed knowledge and the patented Wave Rotor technology. In contrast to most tidal turbines, the Wave Rotor is vertically oriented. It converts power from tidal currents and wave motion directly into electricity. The technology is a patented innovation from Ecofys that has been developed over the past ten years and successfully demonstrated in a 30 kW pilot plant in the Westerschelde.

After the Wave Rotor was developed, it was brought through the pre-commercial stage by OceanMill. The company proved that the technology has enormous potential and is commercially viable.

Wave-RotorIHC Merwede has establishe IHC Tidal Energy to successfully bring the acquired technology to market The official signing of the acquisition agreement was made by Willem Steenge, Managing Director of IHC Tidal Energy, and Manon Janssen, Managing Director of Ecofys.

Wave Rotor technology, which will be managed by the newly estblished IHC Tidal Energy, enables IHC Merwede to further secure its position in the renewable market. Though IHC Merwede has been active in the renewable energy sector for decades, the market for tidal and wave technology is relatively new. IHC Merwede foresees a significant growth of activities in this market inEurope, North America and Asia.

Mr. Steenge says: "The acquisition of Wave Rotor technology enables IHC Merwede to launch a fully integrated system to generate electricity using tidal energy. IHC Merwede will contribute, as a reliable link in the chain of new energy and land reclamation, to the sustainability or our world. The investment in this emerging market also fits well into the company's strategic portfolio."

Want more? Subscribe now!

News from NASDAQ