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EEL ENERGY fund-raising for millions

By: Matthew White 05/06/2018 EEL ENERGY

General Tidal

EEL ENERGY is launching a fund-raising process, searching from €3-7 million, to finance further development for its tidal turbine project.

The announcement comes after the company performed tests on the tidal-membrane based prototype. These tests took place back in April in the harbour of Brest, France.

The tests were the first of their kind certified by Bureau Veritas in accordance with new European standards. During the testing, the tidal turbine sustained an average power output of more than 4kW.

The industrial objective is to develop 30 and 100kW machines, suitable for river applications, especially for isolated or poorly connected sites, before developing a 1MW machine for marine applications. Several investors have already expressed their interest in this operation.

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EEL ENERGY fund-raising for millions

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