GB Company Spotlight is a recurring series where we introduce innovative or otherwise interesting companies.
For our very first GB Company Spotlight post on our new website, I would like to introduce you to Equinox Ocean Turbines BV.
Equinox Ocean Turbines, a Gorinchem(NL) based start-up with a strong management team with over 20 years of experience in the marine energy sector, aims to unlock the enormous energy potential of Ocean Current Energy* within five years to market by using their commercially viable turbine solution. They have developed a revolutionary turbine that is capable of economic energy production at low flow speeds. Equinox Ocean Turbine is continuing to grow supported by Damen Maritime Ventures and its strategic partners.
Quick facts - Ocean Current Energy:
Low velocities, low risk
Constant in direction
Always available everywhere
*Ocean current energy ≠ Tidal energy
Quick facts - Equinox’s solution:
World’s 3rd clean energy source
Stable power production; clean base load
High energy yield;
Patented technology, proven elements
Within five years route to market
Additionally, the ocean current energy market has a long & short term market view of
Est’d market size: 700GW+
SAM: 40GW (@ € 4-5 mio/MW)
Value in 2032: € 5 billion
Equinox has already raised €3.3 million successfully according to their timeline: https://equinoxoceanturbines.com/2023/05/03/innovative-ocean-energy-technology-developing-company-equinox-ocean-turbines-bv-is-raising-e3-3-million-to-further-scale-their-novel-ocean-current-technology-business/
Why are innovative technologies such as Ocean Current Energy particularly relevant for Japan?
Japan imports almost all of its energy resources, which makes it vulnerable to price fluctuations and supply disruptions.
Japan relies heavily on imports of oil, natural gas, and coal to meet its energy needs.
Japan has set a target of generating 36-38% of its electricity from renewable sources by 2030, but it is still lagging behind.
Japan's geography makes it challenging to deploy renewable energy sources like wind and solar power.
Could Dutch-born Equinox Ocean Turbines save Japan and the rest of the world by guiding them towards a stable and smooth energy transition?
Please feel free to contact us for your thoughts and ideas regarding this article!