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e-pitch event 21-01-2021

Electrification in a Decarbonised World – e-pitch event

E-pitch event

January 21st Tocardo was one of the invitees to pitch the company at the Solar Impulse Foundation e-pitch event on Electrification in a Decarbonised World, organized by the Solar Impulse Foundation in partnership with Schneider Electric. The event was watched by a large group of representatives from the business community and financiers. The organisation reported a traction on this session of 90 unique attendees.

How tidal power generation contributes to the electrification in a decarbonised world

Tidal energy is the answer for the increasing volatility in our energy system. Solar and wind power are the drivers for the current unpredictable energy system. On the other hand the extreme predictability of the tides results in an endless source of predictable renewable power generation. The driver for tidal stream power generation is combatting climate change by reducing the CO2 emissions with a 100% renewable, 100% reliable and 100% predictable energy source. Because of the geographical limitations and specific local characteristics for successful tidal power (micro)plants the highest value can be generated on specific locations for specific type of customers. Tidal stream power is the missing renewable energy source to create a local balanced power generation mix.

About the Solar Impulse Foundation

In July 2020 Tocardo’s turbine technology has received the Solar Impulse Label. The Solar Impulse Foundation aims to help the cleantech innovators behind the efficient solutions in order to accelerate their companies’ success. Once their solutions are labelled, the Foundation provides them support on six specific levels. That is, by giving them better access to the market, more appeal to investors, support in their advocacy work, feedback from industry experts, more credibility and greater visibility.

For investors

For investors who did not attend the event and who are also interested in our pitch and value proposition please contact us directly.

An exciting opportunity for investors!

An exciting opportunity for investors!

Now is your chance to get involved: our Edinburgh-based business partner QED Naval has launched its first crowdfunding campaign on the Seedrs platform. The funding will assist further develop existing sites and to secure potential new locations for its patented Subhub tidal platform. The company (QED) also secured an award of €3.5m of EU funding and a place on Interreg’s €46m Tidal Stream Industry Energiser Project (TIGER) last year. Your green impact investment in renewable tidal energy with QED will help further demonstrate our key efficiencies, as outlined above, to the $76bn global market which we are addressing.

Subhub

One of the key design drivers for Subhub was to minimise the environmental impact of the platform. The best way to do that is to make it a seabed mounted system so it is invisible from the surface and maintains the seascape and navigation channels of shipping. It is beyond the diving depth of most birds. Advantageously, it means the extremes of wave loading are exponentially less than at the surface. Subhub is a submersible, gravity based foundation that supports an array of tidal turbines through life. It’s hydrodynamic hull form steers and accelerates the flow into the turbines to significantly enhancing the energy yield having a dramatic impact on the Levelised Cost Of Energy (LCOE) of the overall project.

The added value of tidal power

QED Naval managing director Jeremy Smith said: “Tidal energy is not only renewable, it is the only one that is 100% predictable, can guarantee power output every day of the year, and globally will be worth $76bn by 2050. “So, when the wind is not blowing and the sun is not out, tidal can quite simply fill the gaps in our grid requirement and prevent us having to switch to diesel, gas or coal power.

Get involved

This is a unique opportunity for QED Naval to supercharge their growth, by bringing investors on board as shareholders. This fundraising round will allow them to get going on all the incredible initiatives they have planned for the future. Get involved!

Tocardo OTP

Tocardo Acquires the Largest Tidal Array in the World

Tocardo has come to an agreement on the acquisition of the 1.25MW Oosterschelde Tidal Power Plant, the largest tidal array in the world installed on the Dutch icon Oosterscheldekering. The acquisition follows the successful technical due diligence phase during September 2020. The project is an important step for the global tidal energy sector and for our clean energy future.

The Oosterschelde Tidal Power Plant consists of five T-2 tidal turbines in one of the sluice gates of the Oosterschelde storm surge barrier, with the potential of scaling up. It serves as an international showcase for the tidal energy sector and climate adaptation solutions, combining clean energy production with existing infrastructures and making efficient use of scarce land area.

“At Tocardo we are looking forward to taking this unique project forward to the benefit of the local area in terms of jobs, supply chain development and making an impact to the net zero targets. This exemplar project will be run as a R&D facility and shop window for similar global developments which provides significant export opportunities” – Andries van Unen, CEO of Tocardo.

The timing of the transaction couldn’t be better for the company, especially now that national and local politicians are paying renewed attention to the potential of energy from water in The Netherlands. Dutch Minister Wiebes (Economic Affairs and Climate) has a roadmap to electricity from water in 2030 drawn up, which should be ready before the end of this year.

Tidal Stream Power Generation

Tidal energy is reliable and predictable, and therefore offers flexible baseload energy that powers households when the wind doesn’t blow and the sun doesn’t shine. Beside a significant reduction of CO2 emissions, tidal energy also contributes to a reduction in the emission of all other types of greenhouse gas, such as methane (CH4) and nitrous oxide (N2O). These gases are released during the combustion of fossil fuels, such as coal, oil, and natural gas, to produce power. Dutch technology developers estimate the technical potential for tidal energy in the Netherlands at 150-250 MW.

Oosterschelde Tidal Power Plant

The entire Oosterschelde Tidal Power Plant consists of five T-2 tidal turbines supplied & designed by Tocardo. These turbines are installed on a single hydraulic lift frame designed, constructed and supplied by Huisman in late 2015. Commissioning was completed with commercial full operation commencing in August 2016. Despite the limited possibilities as a result of the global COVID 19 outbreak, constructive consultations have been held with the parties involved to create a broadly supported solution surrounding the preservation of the installation in the future. The management of Tocardo is therefore grateful to all parties involved for their constructive attitude shown during this period.

The Project

The completion of this deal has cost a lot of effort over a long period of time, which is testament to the work put in behind the scenes by the Administrators, Tocardo and Rijkswaterstaat (operator of the Delta Works Barriers). Tocardo also received support from Dutch Marine Energy Centre (DMEC) in helping to present the case for preserving the project.

About Tocardo

Tocardo is fully owned by HydroWing Ltd. and QED Naval Ltd. This tripartite, collaborative partnership brings together decades of multi-sector expertise as well as a blend of well tested, complementary products. The joint venture provides a truly end to end service with a spectrum of turbines, foundation systems, marine operations, as well as design, support and service expertise. Tocardo is one of the world’s leading tidal turbine developers renowned for the robust and reliable turbines resulting from a development history spanning the sectors entirety, over twenty years ago, and the largest portfolio of projects operated by any developer in the sector.

Jeremy Smith, MD QED Naval: “This is an amazing opportunity for Tocardo to demonstrate its wares and capabilities. It is also a great platform to introduce further innovations to improve the performance of the turbines and reduce costs. All this whilst producing clean renewable energy into the Dutch electricity grid and generating revenue to sustain the business allowing it to grow rapidly. The size of the prize is significant in Holland but massive when put in the context of a global market opportunities this project opens up.”

Richard Parkinson, MD HydroWing: “Our main objective in taking over the operation of the OTP project is to gain an understanding of how the turbines can be developed and to inform financial models for integration into commercial projects worldwide. This platform is an excellent test bed to develop the turbines while maintaining low OPEX and informing future design developments. Well done to our CEO Andries van Unen for making this complex deal happen.”

Britta Schaffmeister, CEO DMEC: “This marks an exciting stepping stone for the tidal energy sector. Now home to the world’s largest tidal array, the Netherlands is becoming a true frontrunner in harnessing the power of water. Lessons learned here will prove instrumental for more game changers in tidal energy.”

#1000 Solutions

Solar Impulse Efficient Solution Label for our technology

#1000solutions

Tocardo’s technology has received the “Solar Impulse Efficient Solution” Label, an award for clean and profitable solutions. Thanks to our expertise, our strong portfolio of products and our commitment to reliable, sustainable energy solutions our tidal energy turbine technology was attributed the “Solar Impulse Efficient Solution” Label following an assessment performed by external independent experts and based on verified standards. It is thereby joining the #1000solutions challenge, an initiative by the Solar Impulse Foundation to select solutions that meet high standards in profitability and sustainability and present them to decision-makers to fast-track their implementation.

Renewables have grown rapidly in recent year, but in many cases intermittency of supply remains an issue. Tidal energy offers a solution to this by providing a dependable power source that can support and enhance existing green energy solutions. Tocardo’s tidal turbine solution makes use of the tides and river streams to propel blades and offer customers local, predictable and balanced power generation. With the worldwide tidal market potential being 500 GW, tidal power innovations such as Tocardo’s turbines hold huge environmental and economic potential.

To receive the “Solar Impulse Efficient Solution” Label, our technology was thoroughly assessed by a pool of independent experts. According to five criteria covering the three main topics of Feasibility, Environmental and Profitability. All labelled solutions are part of the #1000solutions portfolio that will be presented to decision-makers in business and government by Bertrand Piccard, Chairman of the Solar Impulse Foundation. The aim of this initiative is to encourage the adoption of more ambitious environmental targets and fast-track the implementation of these solutions on a large scale.

About the “Solar Impulse Efficient Solution” Label

One of the first labels for positive impact businesses bringing together protection of the environment and financial viability, the “Solar Impulse Efficient Solution” Label is attributed following an assessment performed by external independent experts. In collaboration with renowned institutions, solutions applying for the label must go through a neutral methodology based on verified standards. This label serves as an award for clean and profitable solutions.

About the Solar Impulse Foundation

The Solar Impulse Foundation is dedicated to accelerating the implementation of clean and profitable solutions. Moreover, the Foundation is helping decision-makers in businesses and governments to achieve their environmental targets and adopt more ambitious energy policies, which are necessary to pull these solutions to market. A way to carry the success of the first solar-powered flight around the world further.