SeaQurrent raises €4.8 million in investments
SeaQurrent, the builder of the spectacular underwater kite near Ameland, welcomes five new investors. The new participants, together with the existing shareholders, invest more than €4.8 million in the company.
The Dutch company SeaQurrent® is developing an innovative sustainable energy generator, the TidalKite™. This is an underwater kite that generates energy from tidal currents. The development took concrete shape in 2016 and after testing with various scale models - at MARIN and in the Wadden Sea - SeaQurrent is now working towards a demonstration of the fourth model of the TidalKite near Ameland.
“Tidal energy will become an important part of the European energy mix,” says CEO Youri Wentzel of SeaQurrent. “We are extremely proud that we have successfully completed the planned financing round. This investment enables us to further develop our technology and prepare pilot projects. The investors who join now also contribute to further growth and professionalization of our company.”
The new investors are EIT InnoEnergy, PMH Investments, Invest-NL, the Frisian Development Company (FOM) and the Investment and Development Company Northern Netherlands (NOM). Durk van der Meer, managing director at PMH Investments: “In addition to the fact that the TidalKite development is innovative and socially very relevant, the entrepreneurial attitude, organizational composition, passion and vision of the SeaQurrent team have been decisive for our investment. . We will contribute to this with great enthusiasm.”
Klaas Kooistra, investment manager at FOM: “SeaQurrent is developing a wonderful product for use in Friesland, with a global market. Which translates into enormous export potential, investments in sustainable projects and employment. This fits in seamlessly with our goals.”
How does the TidalKite work?
The TidalKite is an underwater kite measuring nine by twelve meters, which will soon generate enough electricity for 700 households. A TidalKite tidal power plant will consist of several underwater kites. Each underwater kite is attached to an anchor in the seabed with a high-tech cable and flies underwater straight into the current. The pulling force generated by the kite drives a hydromotor, which in turn turns a generator. This means that a predictable amount of green electricity is supplied to the grid every day of the year. The impact on the environment and the landscape is minimal.