Tidal Energy Company OpenHydro Raised $53 Million for Expansion
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OpenHydro Group Ltd., a closely-held Dublin-based specialist in tidal stream technology, raised 47 million euros ($53 million) to help fund the production of turbines and the build-out of projects in north west Europe and Canada.
The company, which is majority-owned by DCNS SA, a French naval systems designer and manufacturer, deployed a 2-megawatt machine in January in the waters off Paimpol-Brehat in Brittany, France. It’s planning to install a second there by the summer.