International business backing for leading UK tidal energy company 

The UK’s marine energy industry received a major vote of confidence today with the announcement that global engineering company, Siemens, is investing in leading tidal energy developer Marine Current Turbines (MCT), alongside the Carbon Trust, High Tide and other private investors.Following an investment round led by the Carbon Trust in 2009, this latest funding brings the total investment in Marine Current Turbines over the past two months to £8.5million. Investors in the first round included Bank Invest, Carbon Trust, EDF Energy and High Tide.The funding will help Marine Current Turbines in its plans to deploy the UK’s first commercial tidal energy farm in UK waters within the next two years. The company’s world-leading prototype commercial tidal energy turbine has already exceeded 1,000 hours of operation in Northern Ireland’s Strangford Lough, a first for any marine energy device.René Umlauft, CEO of the Renewable Energy Division of Siemens Energy said: “With this investment in an early stage company we’re securing access to an innovative technology in the field of renewables. As one of the technology leaders in ocean power, Marine Current Turbines is a suitable partner for us to enter the promising ocean power market.”Martin Wright, Managing Director of Marine Current Turbines ...