Equinox Ocean Turbines has developed a revolutionary turbine that could become the third clean energy source. The turbine features a 50-metre diameter concrete blade. Located at each end are smaller turbines that allow the generation of up to 3 MW of electricity at low flow speeds, out of sight beneath the waves.
According to Equinox, the oceans offer a stable, reliable, predictable source of energy 24/7. Their turbine is a two-stage turbine with a semi-floating foundation, suitable for all water depths, that can harvest this power source. The turbine developed is said to have no visual or environmental impact.
Because of its scalability, it can become the third clean energy source and significantly contribute to baseload power generation, states Damen Shipyards, which supports the Dutch startup in its development. The first commercial turbine is to be launched in 2027 with a power production of up to 3 MW.
The Equinox business model is based on turbine sales, project pre-development and “operate and maintenance”. The roll-out of the turbine technology is based on proven elements and existing product infrastructure and builds. The company is seeking investors and strategic partners to invest in the turbine development, commercialisation and scaling of the business model.
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Financing round for prototype
The company is currently raising EUR 3.3 million that will be used to further develop and commercialise Equinox’ technology, including the construction of a prototype by 2024. The company also plans to expand its technology development efforts to improve the efficiency of its Ocean Energy converters and explore potential partnerships with utilities and other stakeholders in the clean energy sector.
Commenting on this funding round, Equinox Ocean Turbines’ CEO, Pieter de Haas, states: ‘We’re looking forward to get this technology to market readiness and paving the way for commercial success of the ocean energy sector.’
This latest financing round follows a successful seed investment by Damen Maritime Ventures, which allowed the company to further develop the business model, third party verification of the technology and to develop the emerging market for clean energy baseload. When this funding round is closed, Equinox Ocean Turbines is poised to make significant strides in bringing its innovative technology to market.
Picture top by Equinox Ocean Turbines.
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