Hydrokinetic technology developer Tocardo Tidal Turbines has reached an agreement to acquire Swanturbines Intellectual Property, the Dutch company announced this week.
The deal includes Swanturbines’ patented subsea turbine technologies, deployment methods and trade name, Tocardo said, and is intended to accelerate the company’s growth.
“For a long time, Tocardo has been impressed by Swan’s technology, which is complementary to our own tested tidal energy technology,” Tocardo CEO Hans van Breugel said. “In particular, Swan’s installation technology is an important addition to our portfolio and offering to our clients.”
Financial terms of the acquisition were not disclosed.
HydroWorld.com reported Tocardo had been selected to provide turbines for Canada’s Bay of Fundy in December.
Tocardo also reported that it had installed three of its T1 turbines in the Netherlands’ Afsluitdijk, which is a 32-kilometer-long sea defense structure that, with the installation of marine and hydrokinetic (MHK) units, is now capable of generating about 300 kW of total power.
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