Tocardo strengthens Managing Board

With two key hires Tocardo Tidal Power has strengthened its Managing Board. Mr. Henk Kasteleijn has joined Tocardo as Chief Financial and Operating Officer. Henk brings over 20 years of general and financial management experience with two leading multinationals in the innovative technology sector.

Mr. Ruud Nijs has joined Tocardo as Project Finance Director. Ruud is a seasoned international banker and brings over 25 years of experience. He is very well and personally connected on decision-making level in all parts of the Dutch Economy and in the developing world.

“I am very pleased that we have attracted two managing board members of this caliber to join Tocardo’s diverse and talented executive team,” said Hans van Breugel, Chief Executive Officer of Tocardo. “The demand for tidal power is increasing and therefore also the demand for working capital for the projects”.

 

Tocardo has the exclusive rights for the development of five tidal projects in the United Kingdom (Fall of Warness and Wales) and in the Netherlands (Delta works). The Universal Foundation System (UFS) is the new standard product, ready for commercial rollout. In Orkney (Scotland) at the European Marine Energy Center (EMEC) Tocardo has a license to install the first offshore system with our UFS and to operate on a commercial basis for a period of 20 years.

 

In The Netherlands Tocardo adjusted its installations to sluices, tidal inlets and flood barriers, as at the Afsluitdijk, but also at the Eastern Scheldt storm surge barrier, part of the Dutch Delta Works. This in combination with a track record of 11 installed turbines is a proven technology.