PTEC remains on course to bring forward their tidal project off the Isle of Wight

Following the recent announcement by the UK government that they have issued an intervention notice for the acquisition of Perpetuus Group by Taurus International Ltd and others, PTEC (Perpetuus Tidal Energy Centre) would like to confirm that they are not being sold.  The intervention notice relates to another company within the group, Perpetuus Advanced Materials, which is run independently.

Rob Stevens, Chairman of PTEC said:

“The PTEC team remains committed to delivering the tidal energy project and is not in any way involved in the sale of any other Perpetuus companies.

Our vitally important project will harness tidal energy as a renewable, reliable source of electricity, generating energy for at least 15 years, providing power to thousands of homes. The green agenda has become even more important since we started work on the project and the timely approval of local planning will pave the way for construction and the exporting of green energy to the grid by 2026, bringing a new clean industry and jobs to the Isle of Wight.”