Tidal energy investment opportunity

tidal turbines Nova Innovation designs, builds and operates tidal turbines. Image: Nova Innovation

A tidal energy company aims to fast-track tidal energy technology and accelerate growth across Europe and North America with a new investment opportunity.

Nova Innovation designs, builds and operates tidal turbines that generate renewable energy from UK sea water and is looking to crowdfund GB£500,000 on investment platform Seedrs.

Simon Forrest, CEO of Nova Innovation, said: ““The UK is already a world-leader in the tidal energy sector. It is not a question of ‘if’ tidal energy happens, it is happening right now. It is now a matter of ‘how quickly’ we can bring it to market. Join us and be part of our underwater revolution to transform the power of our seas into clean predictable electricity.”

A tidal first

In 2016, Nova installed the world’s first offshore tidal array. Located in the Shetland Islands, Scotland, the turbines have been generating clean electricity and exporting to the grid for over three years.

In 2018, Nova worked with Tesla to add energy storage to its tidal technology, creating the world’s first tidal power station with the ability to deliver baseload (constant, steady-state) power and provide energy on demand to meet consumer needs.

Tidal energy is completely predictable – minutes, days, even years in advance. Mr Forrest said: “Nova’s tidal technology offers the ability to deliver baseload power to the grid, giving it the opportunity to displace coal, diesel and nuclear – something solar and wind are unable to do.”

“The investment will drive our three-year plan to lower the cost of tidal energy, accelerate growth and move into new international markets,” he added.

By Rebecca Jeffrey

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