The Company
Neptune Renewable Energy Ltd.was formed in 2005 to develop IP in both tidal stream power and wave power projects in the UK. In addition, NRE will license our proven and patented technologies and also provide turnkey systems on a European and Global basis.
History of the Company
- Sept 2005 Neptune Renewable Energy Ltd. company founded.
- Dec 2005 Company purchases preliminary device concept IPR from University of Hull.
- Feb 2006 PhD student carries out investigation into Triton wave power technology.
- Sep - Dec 2006 Proteus 10th and 40th scale testing by University of Hull.
- Feb - Jul 2007 CFD, mathematical and physical modelling leads to modifications.
- Jan 2008 Deloitte writes full prospectus and identifies investors for full scale Demonstrator.
- Dec 2008 Ormston Technology and DANE Consulting appointed as lead electronic and electrical engineers.
- Jan 2009 Renold, Brook Crompton and Sprint Electric appointed as major gearbox, generators and thyristor suppliers.
- Feb 2009 Due diligence completed and investor call closed funding Demonstrator design, build and installation.
- Mar 2009 Lloyds approval obtained on completed structural designs. Electronic and electrical designs completed. Build contract let to Wear Dock in Sunderland UK. ABP agrees to installation at Humber St Andrew’s site. Further contracts let to more than twenty suppliers and builders. Hull City Council agrees purchase contract for output power. ENTEC engaged for environmental and permitting work.
- May 2009 Construction starts on the NP1000 Proteus Demonstrator - a
vertical-axis tidal stream power plant - at Wear Dock in Sunderland.
- July 2010 The 150 tonne full-scale Proteus Demonstrator is successfully transferred by sea from Sunderland to Hull and placed in-the-water for preliminary tests prior to three months of trials.