IHC Merwede establishes IHC Tidal Energy and acquires Wave Rotor technology
On 30 May 2012, IHC Merwede signed an agreement to acquire Wave Rotor technology from Ecofys, which is renowned for its expertise in sustainable energy solutions. The official signing was made by Willem Steenge, Managing Director of IHC Tidal Energy, and Manon Janssen, Managing Director of Ecofys. Wave Rotor technology, which will be managed by the newly established company IHC Tidal Energy, enables IHC Merwede to further secure its position in the renewable market.
With this acquisition, IHC Merwede has secured highly developed knowledge and the patented Wave Rotor technology. In contrast to most tidal turbines, the Wave Rotor is vertically oriented. It converts power from tidal currents and wave motion directly into electricity. The technology is a patented innovation from Ecofys that has been developed over the past ten years and successfully demonstrated in a 30kW pilot plant in the Westerschelde.
After the Wave Rotor was developed, it was brought through the pre-commercial stage by OceanMill. The company proved that the technology has enormous potential and is commercially viable. IHC Tidal Energy has set its goal to successfully bring the acquired technology to market, enriching the world with proven tidal and wave energy converters.
Tidal and wave energy market
IHC Merwede has been active in the renewable energy sector for decades. The market for tidal and wave technology is relatively new, but IHC Merwede foresees a significant growth of activities in Europe, North America and Asia.
Willem Steenge says: "The acquisition of Wave Rotor technology enables IHC Merwede to launch a fully integrated system to generate electricity using tidal energy. IHC Merwede will contribute, as a reliable link in the chain of new energy and land reclamation, to the sustainability or our world. The investment in this emerging market also fits well into the company's strategic portfolio."
Manon Janssen adds: "Ecofys is very proud to transfer this innovative technology over to IHC Merwede. With its expertise and global presence, IHC Merwede will bring Wave Rotor technology to the next commercial phase. Ecofys expects that Wave Rotor technology will have a big impact on the world."