Tide comes in for Scotrenewables with $8.4m

Dec 22, 2015 • Robert Lavine

Tidal power developer Scotrenewables has now secured about $35m in total, after DP Energy joined existing investors Total, ABB, Harland & Wolff and Fred.Olsen.

UK-based tidal power developer Scotrenewables Tidal Power has raised £5.7m ($8.4m) in funding from investors including power and automation company ABB and Total New Energies, the corporate venturing arm of petroleum producer Total.

The round also featured renewable energy producer DP Energy, heavy industrial product manufacturer Harland & Wolff, marine services provider Scotmarine, corporate holding companies Bonheur and Ganger Rolf, and the Scottish Government-owned Renewable Energy Investment Fund, which invested £2.65m.

Scotrenewables will use the money to bring its SR2000…

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