Tocardo Tidal Turbines has acquired Swanturbines technology, and intellectual property as well.
Tocardo’s newest acquisition includes tidal turbines technology and deployment methods, as well as the trade name of Swanturbines – previous proprietary ownership of Swanturbines.
Financial details of the transactions were not disclosed.
Tocardo is commercialy manufacturing and marketing tidal turbines, and with this take-over, the company will further accelerate its international tidal energy business expansion, Tocardo’s press release reads.
Hans van Breugel , CEO of Tocardo, said: “For a long time, Tocardo has been impressed by Swan’s technology, which is complementary to our own tested tidal energy technology. In particular, Swan’s installation technology is an important addition to our portfolio and offering to our clients.”