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Quimper/Kemper, 29th October 2006, Press Release by ABP
Hydroelix needs funds for its hydraulic power project
Like the wind, the sea is an important source of power. Therefore, even though more and more windpumps are built up in Brittany , hydraulic power must also be taken into account in this region, where the sea plays such an important role.
An hydraulic pump is just like a submarine windpump that activates blades with the stream. There is no lack of projects in this area. That is why Hydroelix is planning to set up an hydraulic plant in Brittany in 2008.
The project, called Marenergie, was called by the Pole of Competitiveness, Mer de bretagne and would concentrate the force of water and of its mechanic movement through a six-blades propeller.
Hydroelix currently needs funding. France is the second source of hydraulic power in Europe with 6 GW, i.e. worth two or three nuclear plants.
Hydraulic projects (just like the wind power projects) are partly funded by the State (of France ) and state-owned companies. However, the problem lies in the fact that both the State and state-owned companies would rather finance foreign projects!
It is prudent to point out here that France invests mainly in new energy projects that are being developed in the UK .
EDF therefore finances Marine Current Turbines by 25%. Total, invested 10% of its capital into the hydraulic company Scotrenewables Marine Power. Finally Ifremer is taking part in the British project, Orecon, that is implementing a swell converter.
Therefore, while basin-based tests of Hydroelix' prototype hydraulic project of 200 KW have proved convincing, it is currently being kept on stand by. Indeed, the company still needs 10 million euros to achieve it.
The ADEM, who is a partner, has already given about 150 000 € to Hydroelix, but it is not enough. Consequently, despite the support given to it by its partners, Hydroelix is still looking for funds that would enable it to set up its hydraulic plant.
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