SABELLA takes over tidal energy assets from GE Renewable Energy
SABELLA takes over the tidal energy assets from GE Renewable Energy following the terms of an agreement signed on the 18th of January 2021. These assets gather all the tidal energy concepts developed by GE Renewable Energy since 2003, including assets inherited through acquisitions (TGL, Rolls Royce and Alstom), as well as the OCEADE trademark. The technology consists of DG III, DG IV and DG IV.1 tidal turbines, which have been commissioned and have produced 1.6 GWh. The DG IV.1 tidal turbine also incorporates several technological innovations.
In this way, SABELLA turns into GE Renewable Energy tidal activity’s successor and becomes the owner of a wide portfolio of concepts and technologies. These assets offer the possibility to define the best suited turbines for different environments, but it also opens new market opportunities. SABELLA’s tidal technology concept is based on simplicity and ruggedness. The addition of GE Renewable Energy technologies, tried and tested through thousands of hours of operation in situ, will strengthen SABELLA to optimise the next generation of design, in particular for specific new applications, with potential impacts on turbine design, installation and maintenance. The main goal remains to reach a cost of energy competitive against other renewable energy sources.
SABELLA’s shareholders, ventures (Ecotechnologies funds managed by Bpifrance within the scope of the Programme d’Investissement d’Avenir, DEMETER Ventures, GO Capital, etc.), industrials (SOFRESID, a subsidiary of SAIPEM, IWS, FARINIA Group, DOURMAP, LFP Group, etc.) as well as employees and the several investors who trusted SABELLA through the Breton crowdfunding campaign GWENNEG, welcome General Electric among the shareholders.
GE Renewable Energy holds 15% of SABELLA’s capital shares and becomes a board member. GE Renewable Energy values 13 years of investment and work led accordingly to methods of company in high-technology sector. GE Renewable Energy foresees this investment to participate in the development of one of the most promising Marine Renewable Energy sources.
GE Renewable Energy acknowledges its support to an emblematic company in the French tidal energy sector, strongly implanted in Brittany and backed up for years by the regional, national, and European authorities.