Trident Energy, the independent developer of generator solutions for the offshore renewable energy industry, today announces the close of a funding round with new investors and existing shareholders.
November 8, 2012 (Newswire) - Trident Energy, the independent developer of generator solutions for the offshore renewable energy industry, today announces the close of a funding round with new investors and existing shareholders. The new investment comes from the Low Carbon Innovation Fund (LCIF) and members of LBA - the London Business Angels network.
Trident Energy's low cost, highly controllable linear generator converts sea wave motion directly into electricity, without the need for intermediary systems such as hydraulics or gearboxes. The new investment combined with a SMART: SCOTLAND R&D grant will enable Trident Energy to test its PowerPod technology in the sea.
Trident Energy's PowerPod supplies off-grid renewable electricity to offshore infrastructure, such as offshore wind turbines or oil & gas platforms, thereby reducing reliance upon offshore diesel generation. PowerPod can also be combined with offshore wind to supply power to the onshore grid or integrated into a range of wave energy converters as a highly controllable power take-off system.
Earlier this year the company completed extensive onshore testing of the prototypes which will be used in the upcoming sea trials. These tests, carried out at the company's onshore test facility in Lowestoft, have confirmed that the linear generator meets the power levels required by commercial offshore energy applications.
Steve Packard, Chief Executive Officer of Trident Energy, said: "I am looking forward to testing Trident Energy's technology in the water to gather operational and performance data on generating electricity from waves. It is fantastic to be working with the highly skilled and motivated people who are building a new UK industry around offshore renewable energy."
John French, chief executive of the Adapt Low Carbon Group, said: "Trident is an ambitious and innovative company and we are thrilled to be able to support them. Their exciting work in the renewable energy sector will help cater for the growing demand for clean and sustainable energy."