UK-based SME seeks partners for development of novel tidal turbine technology through joint venture or licensing agreement
A UK-based SME has developed a concept for a tidal turbine system designed to be fitted to the base of offshore wind turbines to ensure reliable electricity generation even in low wind. Following proof of viability work they are looking to partner with companies, universities and research institutions to develop the technology through proof of concept to commercialisation under a joint venture or a licensing agreement.
The UK SME is looking to work with a partner, either from industry or a university of research institute, who has experience of developing renewable energy generation technologies to commercialisation. The UK SME will provide a partner with access to information and data that has been generated to date to enable further development work on the turbine technology to be jointly carried out. It is envisaged that the partnership will take the form of a joint venture, should that be beneficial for both parties. Alternatively where the partner is a larger commercial entity who sees value in the technology a license agreement would be considered if more appropriate.
Renewable energy sources are increasingly important for the generation of electricity with offshore wind turbines providing a significant contribution. However, the turbines can only provide electricity when the wind is at a sufficient strength. This can lead to unreliability within electricity generation and the need for electricity generated from non-renewable sources to fill the gap. A UK-based SME has developed the concept for a tidal turbine system that can be fitted to the base of offshore wind turbines. This turbine would act independently of the wind turbine above the sea surface but feed into the same generator. A study demonstrating the viability of this concept was conducted by a UK university and the SME are now looking for partners to further develop this technology through proof of concept stage and towards commercialisation. The UK SME are looking to partner with companies, universities or research institutions that have experience in novel renewable technologies and have expertise in the development of such technologies. It is envisaged that the partnership will take the form of a joint venture or a licensing agreement dependent on the particular partner's circumstances.
Advantages and innovations
The UK SME's tidal turbine technology will have the following advantages: Work independently from the wind turbine. Provides energy generation from wind turbine fleet even in low wind. Improve system efficiency and overall predictability of energy generation. Boost income levels from tariffs for the energy productions contracts Tidal turbine device can be retrofitted cost-effectively or fitted to wind turbines pre-installation. Can supply the energy created to the existing generator for the wind turbine.
Intellectual Property Rights (IPR)
Patent(s) applied for but not yet granted
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