Marine Current Turbines Ltd (MCT)
Thrive helped fund the world’s first commercial-scale tidal energy project.
Project summary
In 2007 we acquired a small shareholding in tidal technology company Marine Current Turbines (MCT), who were committed to developing marine renewables as a sustainably energy source for the UK. In 2009 we increased our share in MCT from 1.3% to 1.63% to support the installation of SeaGen, the world’s first commercial-scale tidal energy project. The 1.2MW tidal generator in Northern Ireland’s Strangford Lough was successful in delivering clean power to the electricity network in Northern Ireland. We sold our small shareholding in MCT in 2012 having successfully supported the company at a critical stage of its development. MCT was later acquired by international technology company, Siemens.
Technology
Battery