Jason Hayman, chief executive of U.K.-based Sustainable Marine Energy, says investors are placing their Canadian subsidiary into bankruptcy after fruitless talks with the federal Fisheries Department
A firm that hoped to generate electricity from the Bay of Fundy’s massive tides is instead winding up operations after a regulatory struggle with the federal Fisheries Department.
The company’s catamaran-style tidal platforms – with turbines resembling inverted windmills – were praised as promising innovations when the firm installed them during a first phase of testing near Nova Scotia’s Brier Island. The next step – now cancelled – would have been to bring them to the testing site about 200 kilometres northeast in the Minas Basin, where the world’s highest tides flow.
The firm had been one of four expected to operate turbines at the test facility operated by the non-profit Fundy Ocean Research Centre for Energy, near Parrsboro, N.S. The facility provides berths where tidal companies demonstrate the effectiveness and environmental impact of their technologies. Amid these “significant challenges,” the department suggested Sustainable Marine Energy work with researchers on finding a technology that would succeed, repeating an offer made in March to allow the company to install a single turbine in the Minas Basin for one year and monitor whether fish were colliding with the equipment.
In 2020, Sustainable Marine received $28.5 million from Natural Resources Canada in what the Liberal government billed in a news release as a “historic investment in tidal energy.” The release said the project could reduce greenhouse gas emission by up to 17,000 tonnes annually and demonstrate “the ability to harness tides as a reliable source of renewable electricity.”
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