Tidal turbines will be a source of green energy thanks to Southam firm

In a deal that would usually have taken up to nine months to negotiate, Leamington solicitors Blythe Liggins were able to complete the complex investment agreement in just five weeks.

TidalStream, based in Market Hill, Southam, has been working on a platform system which will enable tidal turbines to be lowered onto the ocean floor where they can be used to capture valuable energy.

Although many companies are developing turbines in many parts of the world, TidalStream is the first company to develop a platform system which enables turbines to be floated into position, before being lowered into the fast-flowing water in a far more cost effective way.

Director Mike Todman, who was chief engineer for the industrial and marine division of Rolls-Royce, developed the platform with business partner Dr John Armstrong, who is a former director of the Wind Energy Group.

He said that early prototype tests conducted in facilities in Scotland, France and the Thames had produced excellent results, which had attracted the attention of marine propulsion company, Schottel, based in Spay, Germany, who were seeking to expand into the tidal energy market.

Mr Todman added: “As we look for ways to develop effective renewable resources, harnessing tidal power is becoming a focus of attention.

“However, getting turbines in place is incredibly challenging due to the strong currents needed, and this catamaran platform provides a solution to this gap in the market.

“The fact that we have been able to attract such a major name as Schottel is incredibly exciting for the project, and we’ve also secured investment from Ramboll, a Danish company which has been able to lend its engineering and design know-how to the project.”

Mr Todman said that the deal between Schottel and TidalSteam had been a seamless one thanks to the help of David Lester, joint senior partner at Blythe Liggins.

He added: “To be honest, we began with a large city firm of solicitors but we were expected to write our own terms, when what we needed was for someone to guide us and work with the German company on our behalf.

“David excelled in this and the deal was concluded without Schottel appointing their own legal team.

“The speed of the completion has meant that we can put the plans in motion well ahead of schedule.”

Having worked on a prototype spanning seven metres, production can now commence on the true scale 70-metre prototype as tall as a 20-storey building.

This will bring new jobs and the opportunity for TidalStream to find its place on the international renewable energy map.