Caudal Energy, a startup developing renewable power systems fuelled by the tides, has secured an investment of £4.3m.
The University of Oxford spinout is working towards full-scale testing of its fin-based tidal technology, which will take place at Strangford Lough, Northern Ireland.
Should the next phase of development and testing go well, the company will aim for commercial deployment by 2028.
Caudal’s system works by providing predictable, reliable and scalable power from a broad range of tidal sites.
The startup has distanced itself from traditional tidal energy practices wherein turbine-based systems operate in a limited number of extreme conditions.
Instead, its modular surface-mounted architecture is designed to operate in mid-flow tidal locations, theoretically unlocking a much larger and scalable opportunity.
“The future energy system needs renewable power that is not only clean, but dependable and built to scale. We founded Caudal to challenge the assumption that tidal energy has to remain complex, costly and niche,” said chief executive John Kennedy.
“By unlocking the potential of mid-flow tidal sites, we believe Caudal can dramatically expand where tidal energy can be deployed and how commercially competitive it can become.”
The investment round was led by Oxford Science Enterprises (OSE) and Empirical Ventures and included participation from Zero Carbon Capital and Creator Fund.
“Caudal Energy is addressing one of the most important challenges in the transition to renewable energy: how to provide predictable, scalable generation that complements intermittent power sources such as wind and solar,” said Andy Straiton, investment lead at Oxford Science Enterprises.
“Importantly, Caudal’s approach is designed around the economics required for large-scale deployment, not just technical performance.
“The combination of simpler deployment, lower operational complexity and access to a far broader range of viable sites can make tidal energy cost competitive with established renewables such as solar and wind.”
