UK tidal energy company ranked world’s number one

MCT came first out of 3,500 companies around the word and is the only tidal energy company featured in the global list produced by the Cleantech Group – and one of just 13 British companies to be ranked this year.

MCT, which was established in 2000, runs the 1.2 megawatt SeaGen, the world’s first commercial-sized tidal stream turbine, deployed in Northern Ireland’s Strangford Lough.

The Global Cleantech 100 list was drawn up by the Cleantech Group and advised by a panel of experts from around the world who considered which “private companies showed the most commercial promise, which have the most potential and highest likelihood of achieving high growth and market impact.”

“The first ever Global Cleantech 100 shines a spotlight on which companies and which technology areas the global innovation community is currently most excited about, from a commercial standpoint,” said Richard Youngman, managing partner at Cleantech Group. “Although none of these firms are exactly household names, their innovations and the business acumen of their leaders and investors mean that they are likely to have high impact on our future. The Global Cleantech 100 companies, and many other worthy peer companies, stand to enable environmental sustainability and generate economic growth.”

Martin Wright, managing director of Marine Current Turbines said: “International recognition of MCT’s innovative and pioneering work in the marine renewables sector is hugely welcome. Our SeaGen tidal system is generating power into the grid on a daily basis, we are moving forward with new projects in UK and Canadian waters and are exploring potential sites in other parts of the world.”

Despite his company’s success, Wright Wright has words of warning for the future prospects of the UK marine energy industry, “If we are to build upon our achievements and if the UK wants to establish a serious marine energy industry then the British Government must do more to support the sector. We have the opportunity for the UK to be for marine energy what Denmark has been for wind.

'Critically, both the level of ROCs (Renewable Obligation Certificates) for marine energy and the discrepancies in the UK market must be addressed. Wave and tidal need the same level of support, and the number of ROCs needs to be increased from its present level of two which only puts marine energy on par with offshore wind, which is a mature technology. At this present level, there is effectively no market to pull marine energy forward.

"A positive signal from Government is vital if the UK marine energy industry is to secure the levels of long-term investment needed to create an industry, contribute to the UK’s low carbon economy and export our technologies across the world.”