UK Government Support Continues
The press release in the news section gives more information. We were not in the competition for this grant money as it was aimed at deployment of tidal power farms, or arrays, of multiple devices. We are the next generation technology and will not be deploying in arrays for a few years. Here is what I think the announcement means for Pulse:
The biggest message is the continuing support of HMG, which is vital and will continue to benefit everyone in the industry.
The next is that those who are furthest along are making good progress toward commercial deployment of tidal power arrays. The fact that some in the industry are already turning technology developments into commercial projects is very important as it shows that there is money to be made from tidal power - confirming our market.
Of course, there is always a "but" - and in this case, it is around finance. Siemens talks in the press (see here : http://m.businessgreen.com/bg/feature/2251138/siemens-dives-into-wales-first-tidal-array-project) about the need to access loans to fund the deployment in Wales. Their ability to raise that finance will be the ultimate indication of how attractive tidal power projects really are.
Of course, I believe that Pulse has a better technology, which will offer lower costs than the current machines being considered for these arrays. But the reality is that we need the front-runners to be successful if we are going to create an industry where Pulse can show just how good it is.
I am keen to hear what you think.
Bob<< Return to Blog