HICO investes in Tidal Transit
Published by Jessica Casey,
Editor
Energy Global,
Maritime and logistics investor, HICO Investment Group, has partnered with Tidal Transit to drive decarbonisation in the offshore wind sector.
The new partnership will combine Tidal Transit’s robust operating and technical expertise in offshore crew transfer with HICO’s strategic capital and broader industry footprint, and help solidify Tidal Transit’s position as a leading crew transfer vessel (CTV) industry innovator pioneering electrification across the sector.
Tidal Transit’s projects include development of the world's first electric crew transfer vessel (E-CTV) retrofit, onshore and offshore charging solutions, and a fully electric e-foiler through its existing partnership with Artemis Technologies, all of which received additional government funding through the Department for Transport and Innovate UK.
The investment in Tidal Transit also enhances HICO’s exposure to the offshore wind sector, complementing services provided by existing portfolio company Britoil’s offshore support vessels.
Chris Hartnoll, CEO at HICO Investment Group, said: “HICO believes the off-shore wind segment is supported by positive macro tailwinds such as policy mechanisms to decarbonise and continuous offshore wind technological advancements.
“We support Tidal Transit in its entrepreneurial drive to lead the industry in electrification and clean energy charging capabilities, and we look forward to working with the team to deliver CTV solutions that reduce carbon footprints across the offshore wind supply chain.”
Leo Hambro, Commercial Director at Tidal Transit, added: “We welcome HICO’s years of experience in sustainable maritime investment, and together with our and our existing partners’ industry expertise and low-carbon technologies, we can truly move the needle towards fully electrified offshore crew transport.
“With a host of exciting and innovative projects already in the pipeline and with more to come, this partnership will help accelerate progress towards our combined mission to create low carbon, cleaner and safer offshore wind sector.”
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global's Winter 2023 issue
The Winter 2023 issue of Energy Global hosts an array of technical articles weather analysis, geothermal solutions, energy storage technology, and more. This issue also features a regional report looking at the future of renewables in North America, and a report from Théodore Reed-Martin, Editorial Assistant, Energy Global, on how Iceland utilises its unique geology for renewable energy.
Read the article online at: https://www.energyglobal.com/wind/07022024/hico-investes-in-tidal-transit/
You might also like
Copenhagen Infrastructure Partners, KK Invest, and Danish Bio Commodities to operate and develop biogas plants
KK Invest, DBC Invest, and Copenhagen Infrastructure Partners have entered into an agreement regarding the acquisition of the majority of the shares in Sindal Biogas.