Free press releases distribution network?

More news: Engineering
Agency / Source: ABB Robotics / ABB Ltd

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!



ABB Leads $12 Million Investment in Tidal Power Leader Scotrenewables - Equity stake in Scottish tidal turbine company strengthens ABB’s renewables assets - ABB.com
ABB Leads $12 Million Investment in Tidal Power Leader Scotrenewables

 

PRZOOM - /newswire/ - Zurich, Switzerland, 2013/03/13 - Equity stake in Scottish tidal turbine company strengthens ABB’s renewables assets - ABB.com. NYSE: ABB

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Engineering Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

ABB, the global power and automation technology group, has led a $12 million investment in Scotrenewables Tidal Power, a provider of tidal turbine systems, to support the rollout of a new hydrokinetic device and to expand ABB’s renewable energy assets.

ABB’s participation was made through its venture capital unit, ABB Technology Ventures (ATV), which invests in early and growth stage companies with technologies of strategic importance to the industries it serves. The investment round included participation from existing strategic investors Total New Energies, a unit of oil major Total, and Fred. Olsen, the Norwegian maritime conglomerate, through its associated Bonheur and Ganger Rolf holding companies.

The funding is being used specifically to roll out a larger and more advanced tidal energy conversion system known as the SR2000. The floating 2 megawatt turbine includes a number of innovations to deliver simplicity, low mass, rapid connection/disconnection and heightened survivability. Scheduled for completion next year, it will be the first of a number of commercial units installed in the Lashy Sound tidal demonstrator project in Orkney, where Scotrenewables is based.

“ABB led a comprehensive review of tidal stream technology and concluded that Scotrenewables was well below its peers in capital outlay per megawatt and overall power delivery cost,” said Grant Allen, senior VP of ATV. “Scotrenewables has designed a remarkably robust hydrokinetic unit which, by nature of its easily accessible floating design bypasses many of the maintenance issues that confront other marine startups.”

Aligning with Scotrenewables is a natural, strategic fit for ABB given the switchgear, transformers, cabling and other electrical gear being used in the containerized design. Through its UK operations, ABB engineers have already been working closely with the company on packaging and integration. The ATV investment complements current competencies in marine energy harvesting through ABB’s prior early-stage investment in Aquamarine, a leader in near-shore wave power development.

Barry Johnson, CEO of Scotrenewables, remarked,“We are delighted to have concluded this major investment deal and to have secured funding for the next vital stage in the development of our innovative floating tidal technology. ABB’s involvement allows us to tackle complex cabling and grid connection challenges, thereby speeding the technology development process.”

ATV (abb.com/ventures) is the corporate venture capital arm of ABB. Based in Zurich, with offices in Silicon Valley and Washington, DC, ATV invests in high potential energy technology companies that can benefit from ABB’s engineering resources and global market access. Investing since 2010, ATV has deployed nearly $150 million into sectors including cyber security, smart grid communications, renewable power generation and data center efficiency.

ABB (abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 145,000 people.

For help with any technical terms in this release, please go to abb.com/glossary.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Engineering Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Agency / Source: ABB Robotics / ABB Ltd

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick PRZOOM - Press & Newswire Visibility Checker

 

Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Engineering articles,
CATCH Visitors via Your Competitors Announcements!


ABB Leads $12 Million Investment in Tidal Power Leader Scotrenewables

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name PRZOOM - Press & Newswire and LINK as the source.
 
  For more information, please visit:
Is this your article? Activate ALL web links by Upgrading to Press Release PREMIUM Plan Now!
ABB |
Contact: Press Office - ABB.com 
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any ABB Robotics / ABB Ltd securities in any jurisdiction including any other companies listed or named in this release.

Engineering via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!




Read Latest Press Releases From ABB Robotics / ABB Ltd / Company Profile


Read Engineering Most Recent Related Press Releases:

Rockwell Automation to Showcase Plantwide Control Solutions and Technology at POWER-GEN International
Premier Autonomous Vehicle Conference of The Southeast - 2016 Florida Automated Vehicle Summit
AEgis Technologies, Inc. to Demonstrate Affordable Training Alternatives At I/ITSEC 2016
Mentor Graphics Announces New FloEFD Product with Unique Capabilities
Mentor Graphics Signs Agreement with ARM to Accelerate Early Hardware/Software Development
ABB Wins Order to Supply 1600 Transformers to Support Railway Expansion in India
Mentor Graphics Announces FloEFD Frontloading Computational Fluid Dynamics (CFD) Award Winners for 2016
Infineon Chip Solves Rubik's Cube in 637 Milliseconds
Seica to Distribute Mentor Graphics Process Preparation Tool for Flying Probe Test Systems
Mentor Graphics New FloMASTER Delivers Higher Accuracy, Extended Physics and Ease of Use

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
 
NewswireToday Celebrates 10 Years in Business
Find business coaching, life coaching, executive coaching and corporate coaching, best selling coaching books, ...



PREMIUM Members


Visit  JobsWare.com

Visit  La Bella Bakery Artisan Bakery Arizona

Visit  Triggr & Bloom







 
  ©2016 PRZOOM — Limelon Advertising, Co.
Home | About PRZOOM | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneur newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today