Tocardo and Huisman form strategic partnership for offshore development

Hydrokinetic turbine manufacturer Tocardo International has begun a long-term partnership with equipment manufacturer Huisman, HydroWorld.com has learned.

The Dutch company says new shares have been issued, giving Huisman -- which specializes in the design and fabrication of on- and offshore equipment -- a minority stake in the business.

"We have recently reached the stage of full commercialization of the building and marketing of our smaller turbines," says Tocardo Chief Executive Officer Hans van Breugel. "The agreement is the next step in our plan to scale up our business and gain first-mover advantage in this fast-changing sector."

Tocardo says Huisman's background in construction and engineering will complement its own experience in producing tidal free-flow water turbines, while the investment will be used to further research and development efforts.

"There is a lot of international interest in tidal and in-stream power generation, and we are one of the first companies to have commercially available products that are already being sold," van Breugel says. "Huisman's investments and partnership will help us realize the full potential of this opportunity.

HydroWorld.com reported in September that Tocardo had begun manufacturing six of its turbines for projects in Nepal and Japan.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs