Tocardo targets €5 million through bonds issue

Tocardo Tidal Power is looking to raise €5 million through bonds issue to support the delivery of its project pipeline.

Tocardo has issued tradable bonds to finance the required working capital for the delivery of its project pipeline on May 8, 2017, on the Dutch financial institution’s Van Lanschot listings site.

The nominal value per bond has been set to €10,000, with minimum subscription of 10 bonds, at an annual interest rate of 7%, according to the Dutch tidal turbines manufacturer and projects developer Tocardo.

Hans van Breugel, Tocardo’s Chief Executive Officer, said: “The funds will be used as a working capital to grow the company into further commercialization. We’re finalizing projects in the UK, Canada and the Netherlands, and working towards full commercial sales of Tocardo’s turbines.”

Van Breugel added that the tidal energy market is becoming commercial, but the sector still needs the support from respective governments to reach full commercialization.

In addition, Tocardo has organized an introductory event for the interested investors, which will be held on May 29, 2017, at the NEMO Science Museum in Amsterdam.

During this event, Hans van Breugel will give an overview of Tocardo’s expectations in relation to the issue of bonds, while the company’s Chief Technical Officer, Pieter de Haas, will provide more information about Tocardo’s tidal technology.

To date, Tocardo has acquired exclusive rights for the development of 5 tidal energy projects in the United Kingdom, Canada, and in the Netherlands.

The projects are expected to be installed within the next 2 to 5 years, comprising around 245 installed turbines with an energy-generating potential of 59MW.

Share this article

Follow Marine Energy

Events>

<< Apr 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

AWTEC2020

AWTEC 2020 aims to provide an opportunity to exchange, learn, interact and network on all multidisciplinary…

read more >

PV Korea 2020 (The 17th Green Energy Expo)

This show is co-organized by the four major renewable energy associations of Korea.

read more >

All-Energy 2020

All-Energy is the UK’s leading and only full supply chain renewables and low carbon energy event for the private and public sector energy…

read more >

Offshore Energy Exhibition and Conference (OEEC) 2020

Offshore Energy addresses the technical, operational and commercial challenges associated with future sector growth.

read more >