Tidal Energy to Power Subsea Oil and Gas
Scottish engineering company East Coast Oil and Gas Engineering (EC-OG) has secured funding to develop a localized electrical power system for remote subsea locations. The Subsea Power Hub uses ocean currents to generate renewable power that aims to reduce operating costs.
Over $1 million in external funding is being provided by Castle View Ventures and the Scottish Investment Bank, the investment arm of Scottish Enterprise. This investment follows that of over $1.5 million made by the High Growth Start-Up Unit in December 2015.
The hub allows oil and gas companies to reconfigure their electrical supply systems to make them significantly more efficient, says EC-OG, and is at the heart of the next generation of subsea systems. It has been designed to reduce the cost of repairing or replacing umbilicals after all-too-common power failures and is small and inexpensive compared to current technology.
EC-OG was founded in April 2013 by managing director Richard Knox and engineering director Rob Cowman.