Tocardo Tidal Turbines has agreed to acquire Royal IHC’s tidal division. The acquisition will help Tocardo expand its international and Dutch activities.

“The acquisition of IHC Tidal Energy is a meaningful expansion of our product offering and will enhance our capacity to acquire and implement tidal energy projects across the globe,” says Hans van Breugel, CEO of Tocardo.

IHC Tidal Energy, officially established in 2012 and based in Alblasserdam, has developed a tidal turbine with a vertical axis, which is close to the stage of commercial application.

Tocardo, with an aim to become a leader in the tidal energy market, builds tidal turbines with a horizontal axis which are delivered to tidal projects on a commercial basis.

In some offshore locations, vertical-axis turbines suit better than turbines with a horizontal axis. By offering both options, Tocardo can exploit the energy potential of the sea even better.

Bram Roelse, CEO of Royal IHC: “With this transaction we enhance our focus on our core activities. IHC Tidal Energy is a stable and healthy company, but its activities no longer fully fit Royal IHC’s strategy.”

Financial details of the transaction were not disclosed.

Adapted from Press Release