Category Archives: Funding

Private and Public Funding categories

Sgurr Energy Design Review Provides Investor Confidence

QED Naval commissioned renewable energy consultancy, SgurrEnergy, to undertake an independent technical and commercial due diligence design review of the Subhub tidal turbine transport, installation and foundation system.  It encompassed a review of analysis reports that had been produced as part of the feasibility and R&D studies supported by Scottish Enterprise. These include an analysis of all the tank testing results and the calculations of extreme loads, together with an assessment of the assumptions that have been used in scaling up to anticipated loads in larger device iterations. SgurrEnergy has also reviewed the tidal and wave loading numerical modelling reports that were based upon the tank testing campaign. This forms part of QED Naval’s detailed design process of the 1:4 scale technology demonstrator to be tested at Strangford Lough”.

The report also reviews the status of the tidal market and makes recommendations for QED Naval’s testing programme to validate the suggested performance and operation of the Subhub. These include a requirement to provide clear evidence to support the claimed reduction in CAPEX and OPEX costs compared to other transport and installation solutions, to demonstrate the potential increase in power density by accelerating the flow into the turbines, and to consider means of reducing the effects of tidal shear, veer and turbulence on the turbines installed on the Subhub.

QED Appoints Leading Industry Figure as Chairman

QED Naval have appointed a new Chairman, Allan Thomson, with the approval from the investors Kelvin Capital and the Scottish Investment Bank. This brings a new focus to our business and we are looking forward to utilising Allan’s experience of two decades within the wave and tidal sector.

Allan has previously founded Wavegen which was sold onto Siemens and still occupies a position on the Aquamarine Power’s board. This year he was awarded the Saltire Prize for service to the wave and tidal industry.

Scottish Enterprise Award SMART Grant

It is a pleasure to announce that QED Naval have been awarded Scottish Enterprise, SMART R & D grant to support the ongoing development of the Subhub project.

This project aims to complete the validation, build and test of a large scale prototype of the Subhub. The overall goal is to demonstrate a large reduction in the cost of deployment of tidal turbines and validate the performance claims that show large gains in power output when compared with a typical tower installation.

Shell Springboard Provides Boost To Subhub Project

QED Naval has been selected for the regional finals of the Shell Springboard competition for low carbon business ideas for UK SMEs. This provides us with the potential to win £40,000 to help fund the continued development of the Subhub project.

The QED Naval management will be presenting to an expert panel from the Shell Springboard organisation in early March. A evening reception will be held in the evening to announce the winners. The winners will also get put through to the national stage with the potential for corporate backing of their idea.

QED Naval Opens the Door to Collaboration with Tidal Developers

QED Naval now has the full capability to deliver the Subhub Feasibility Study including hydrostatic stability characteristics using Paramarine, structural response and fluid loading analysis using ANSYS Mechanical and Fluent, respectively.

We now have the technical team in place to allow us to fully utilise these tools and are keen to work with tidal developers to optimise their turbines using the Subhub foundation structure and assess its abilities to enhance the power output and the potential to reduce turbulent gusts.

SE SMART Feasibility Study Gets Underway

Scottish Enterprise have recently released the first tranche of funding to allow QED Naval to commence with the feasibility study on the Subhub Wave and Tidal Platform. This unlocks the funds to recruit the personnel and acquire the numerical modelling software and hardware tools to complete the study.

QED Naval awarded SMART Grant

QED Naval has recently been awarded a SMART Grant from Scottish Enterprise to carry out a feasibility study on the Subhub concept. The work will assess both the technical and commercial viability of the platform and determine whether the business plan is achievable. The offer is conditional and means that QED Naval are looking for further private investment of between £50,000 to £80,000 in order to draw down on the Grant money.