Tidal stream marches on in Europe despite setback

On 26 July, Naval Energies announced the cessation of its investments in tidal stream, forcing the liquidation of its tidal stream subsidiary, OpenHydro.

Commenting on this development, Rémi Gruet, CEO of Ocean Energy Europe said:

“The liquidation of OpenHydro is disappointing news, yet closures are part of pioneering and innovating in a brand new industrial sector, on the road to commercialisation.