5.27 seaQurrent successfully closes

€4.8 million funding round with investment consortium

Dutch tidal energy company, SeaQurrent®, announced in November 2022 that it had received an investment of over €4.8 million from EIT InnoEnergy, PMH Investments, InvestNL, the FOM and NOM, along with other shareholders, to develop an innovative sustainable tidal energy convertor, the TidalKite™. From 2016 and after various scale model tests at MARIN and in the Wadden Sea, SeaQurrent is now working towards a demonstration of the fourth model of the TidalKite at Ameland.

A multi-wing underwater kite – measuring nine by twelve metres – generates enough electricity to supply an equivalent of 700 Dutch households with energy for a year. A TidalKite power plant will consist of a series of underwater kites. Each underwater kite is anchored to a monopile in the seabed with a high-tech cable, and floats underwater across the current.

The traction force generated by the TidalKite drives a hydro motor, which in turn drives a generator, reliably generating green electricity for the grid every day of the year, reducing the need for storage for other renewable sources. Moreover, the environmental impact is minimal and there is also no horizon pollution.

EIT InnoEnergy is convinced that tidal energy will become an important part of the European energy mix and that TidalKite can make a distinctive and important contribution to this.

you RI W E n TZE l CEO of SeaQurrent

We are proud to announce that we have successfully completed this latest financing round. This investment enables us to further shape the development of our distinctive technology and of pilot projects.

seaqurrent.com