QED Naval Limited

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Project details

Project description

QED has established itself as a technology developer and project manager of turnkey tidal energy projects. They have developed an innovative, disruptive, self-deploying, submersible, tidal platform which delivers significant financial benefits: • Turbine energy yield improvements averaging 48% • Operation and Maintenance cost savings >60% Key project components are in place i.e. it has sites identified with consents, marine licenses and planning. QED recently acquired Tocardo Turbines in Holland and then through it the Oosterschelde OTP Dam (largest tidal array in the world). As a result it owns one of the world’s most established and robust turbines. QED’s Subhub is however turbine agnostic and is also well tested and proven having been in water for 2 years. Its system uses low risk, static, stable, seabed export cables. There is a multi-disciplined team on board (including QED - naval architecture, platform systems design; Tocardo - 50% owned, turbine developer; tbc - marine operations; PTEC - project developers; Isle of Wight Council; tbc – Hydrogen).

The problem we are solving

QED is bringing 100% renewable tidal energy to the market, and helping us all reach Net Zero now. The renewables energy market is at a turning point. The Government has completed its marine AR4 funding consultation and the industry expects its funding announcements by the start of 2021. The company has secured projects and pipeline to maximise its position and aims to start generating 20-year annual energy revenues by 2023. In preparation for maximising its project pipeline, it acquired a well-proven, renowned turbine company to position it as an end to end solutions and technology provider. This has brought an EU base, additional pipeline (incl dams and infrastructure projects globally) as well as a strategic partner.

Comments

We have been appointed on a 3m funded R&D project which tests develop our product and also ties us into a large project needing funding, equity and loan.

Technology readiness level

Sustainable impact on Blue Economy

The renewables energy market is at a turning point. The Government has completed its consultations and the industry expects its funding announcements and AR4 at start of 2021. The company has secured projects and pipeline to maximise its position for this. The company has been successful in securing a project pipeline which includes, live: Tidal energy is 100% reliable, 100% green and a free to use energy source. Our Subhub and tidal turbine reduces the LCOE (levelled cost of energy) for the sector and enables a self-deploying energy unit ideal for communities and islands that want off-grid.

Basic information

Country

United Kingdom

Sector

Blue energy

Patents

Brief biography of founders and CEO

Jeremy is an experienced Naval Architect, chartered through RINA, having worked within the marine industry for almost 20 years. In the early stages of his career, he worked for a marine surveying company which provided a practical basis to his knowledge of large marine structures. That led to an M.Sc in Marine Technology at Strathclyde University, heavily biased towards offshore & subsea engineering. However, he took the opportunity to move back towards Naval Architecture by taking up an R&D role within DRA - Submarine Structures department. This role provided a thorough grounding in experimental & numerical modelling methods, quality processes (ISO 9001) and computer programming. He joined QinetiQ to become the Project Technical Leader on several composite propeller projects developing tools and methods for propeller design & manufacturer.

Financial data

Finance needs

1750000.00

Planned Funding Uses

Improve our R&D,Sales and Marketing,Operations,To hire more resources,Other (please specify)

Company profile