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Sad news for Pulse Tidal
Confirmed by web site Insolvency List, Pulse Tidal, which developed a tidal stream power plant in the Humber estuary and received support from regional development agency Yorkshire Forward and Future Energy Yorkshire, among others, has been placed into liquidation.
By K.Steiner-Dicks on Apr 22, 2014
Sarah Long and Antony Denham, both of DL Partnership, were appointed by creditors as liquidators to Pulse Tidal and Pulse Group Holdings, on 27 March 2014. Pulse Tidal investors include Marubeni, a power developer and IT Power.
The award-winning Pulse system harnessed the power of tidal streams with horizontal blades which moved up and down and drove a generator. Its 100kW test rig in the Humber estuary fed power into a chemicals company on the banks of the river, according to news reports.
Following the successful demonstration of its technology at 100kW scale, Pulse was working with its supply chain partners to develop a 1.2MW machine for commercial deployment.
Formed in 2007, following 10 years of development work by CTO Marc Paish. Paish partnered with Commercial Director Howard Nimmo and the new team wrote a business plan and raised equity from local incubator funds.
Working with IT Power and other partners, Pulse at the time matched the equity with public grants and engaged in a development programme which began with tank testing and culminated in the deployment of the "Pulse-Stream 100" tidal power generator in May 2009.
This machine, which generates up to 100kW of electrical power from the tides in the North of England, is grid-connected and generating power to local industry.
Since 2009 the business secured relationships with 7 execution partners, received an €8m grant from the EU, entered the Carbon Trust Incubator and won £40,000 in the Shell Springboard competition.
Pulse's liquidation comes one year after Neptune Renewable Energy, another development company set up to harness tidal stream power, was placed into liquidation.