Black Rock Tidal Power, a subsidiary of German energy company Schottel Hydro, develops Triton floating energy platforms carrying Schottel Instream Turbines to generate electricity from tidal currents. The company raised financing to install its first platform in the Bay of Fundy off Parrsboro, Nova Scotia, at the Fundy Ocean Research Centre for Energy (FORCE). The Triton platform can carry turbines capable of generating up to 2.5 MW from tidal currents and is planned for installation in autumn 2016 at the Black Rock berth. Black Rock has been granted a developmental tidal feed-in tariff and a 15-year power purchase agreement to sell electricity to Nova Scotia Power at a predetermined rate. Management says the project is intended to prove the commercial viability of the technology and to set the path for further Triton projects in the Bay of Fundy and globally. The company is also preparing to seek backers for a second 2.5 MW project that already has agreements to sell electricity to Nova Scotia Power.

Total raised

$15M

Funding rounds

2

Latest round

Equity

Latest activity

Nov 2024