Inyanga Marine Energy Group, a pioneer in tidal energy technology, is raising funds to accelerate its innovative HydroWing technology rollout, capturing a share of the ocean energy market estimated to be worth €53bn by 2050.
The company is significantly expanding its global footprint with HydroWing projects earmarked for the UK, Europe and Indonesia.
The HydroWing technology, protected by eight international patents, represents a significant advancement in tidal energy generation. The system utilises next-generation T3 Turbines, each capable of producing 2x600kW, building upon the proven success of their T1 and T2 predecessors, which have accumulated 55 years of operational experience.
In Europe, Inyanga has achieved a notable breakthrough with its inclusion in the Interreg North-West Europe SHINES project, approved for funding on December 11, 2024. The project, which brings together 13 project partners and 4 associated partners from 6 countries, aims to accelerate the adoption of tidal and river energy across Northwest Europe.
The company’s flagship project at Morlais in Wales, scheduled for deployment in 2028, has secured a 20MW capacity allocation through the UK government’s Contracts for Difference scheme. A full-scale demonstration project is planned for 2025, preceding a more extensive deployment in the coming years. Investors participating in this funding round will secure exposure to Inyanga as it begins to deploy its innovative tidal technology.
Inyanga’s growth has been supported by funding from a mix of private investors and funds, including a £1.8 million capital raise in 2021 and a £0.9 million equity investment from the Cornwall and Isles of Scilly Investment Fund.
The company recently welcomed a delegation from Indonesia’s state power company PLN, marking a significant milestone in its international expansion.
The company has secured a binding agreement with a PLN subsidiary to develop a 10 MW tidal project in East Nusa Tengarra, Indonesia, which will be the country’s first tidal energy installation. This follows Inyanga’s recent contract win to construct Southeast Asia’s first tidal energy plant in Capul, Philippines.
CEO Richard Parkinson emphasised the technology’s particular relevance for island communities: “Tidal energy is the perfect solution for remote island communities such as in the Indonesian archipelago, as it can replace expensive and polluting diesel generators and provide base load energy, fuelled by the perpetual tides that surrounds these islands.”
Although Inyanga has identified an opportunity in the islands of Indonesia, the total technology can be deployed anywhere, as demonstrated by projects in Wales and Europe.
The global ocean energy market is projected to reach 350GW and be worth €53bn by 2050, with tidal energy installations having grown by 30.2 MW since 2010. Inyanga’s HydroWing technology aims to address traditional barriers to tidal energy adoption through reduced capital expenditure and maintenance costs, positioning the company to capitalise on this growing market
Inyanga is currently crowdfunding on Crowdcube, find out more here.