QED Naval blow crowdfunding target out of the water
QED Naval closed the books on their Seedrs campaign today after raising a total £1,050,000 in funds. The company had originally set out to raise £350,000, meaning the campaign was over subscribed by 200%
In January, the company announced their acquisition of the world leading Dutch Oosterschelde Tidal Power (OTP) Project as it plans to disrupt the energy sector. The company also secured €3.5m of EU funding and a place on the Interreg €46m Tidal Stream Industry Energiser Project (TIGER), a global tidal project.
Jeremy Smith, CEO said:
“Tidal energy is not only renewable, it is the only one that is 100% predictable, can guarantee power output every day of the year, and globally will be worth $76bn by 2050. So, when the wind is not blowing and the sun is not out, tidal can quite simply fill the gaps in our grid requirement and prevent us having to switch to diesel, gas or coal power.”