The recently signed agreement will enable businesses and other large scale electricity users to add tidal energy to their renewable energy mix.

Wholesale customers use Climex’s trading platform to purchase energy that is demonstrably green. Adding Tocardo’s tidal energy to its portfolio significantly enhances Climex’s offering, said the company.

“Our agreement with Climex will make tidal energy readily available to corporations and government agencies at competitive prices.” said Hans van Breugel, CEO of Tocardo. “This is an important step in Tocardo’s efforts to create a well-functioning market for tidal energy, which can provide 10% to 20% of the world’s demand for electricity.”

“Electricity generated by Tocardo’s turbines is demonstrably sustainable and is a welcome expansion of our proposition,” said Jeroen van de Kletersteeg, General Manager of Climex.

Tidal energy is a young and promising segment of the renewable energy market and demand is growing worldwide, said Tocardo.

The company recently secured investment from Huisman, specialists in offshore technology, and Spanish energy company Repsol allowing it to scale up its turbine production.

Further reading: Tocardo commissions bi-directional tidal turbine