News

Buyer sought as tidal energy company goes into administration

Published

8 years ago

October 24, 2016

tidalenergy A BUYER is being sought for an established Welsh-based tidal stream technology company which has entered administration.

Tidal Energy Ltd, which was set up in 2001, uses technology to harness the power of the sea’s tides to provide a sustainable source of renewable electricity. It operates out of offices in Cardiff and Pembroke Dock.

However, the sector has suffered from economic and political uncertainty in recent times, due to the withdrawal of previous government subsidy promises under the Contracts for Difference regime.

Joint administrators Steve Wade and David Hill – from business rescue and recovery specialist Begbies Traynor – were appointed on October 17.

The administrators have retained key staff to continue the company’s operations and specialist knowledge while a buyer is sought for the business and assets as a going concern.

Tidal Energy Ltd has developed tidal stream technology called “DeltaStream”, a full scale 400KW turbine that has been successfully tested at Wales’s first tidal energy site at Ramsey Sound, in Pembrokeshire, west Wales. The Ramsey Sound site is also owned and operated by the company.

Tidal Energy Ltd Director, Chris Williams, said the results of testing the technology made the company a strong commercial prospect. “The full turbine characteristics have been tested and verified, and we also possess a wealth of data and information that makes the whole operation, including the turbine and the Ramsey Sound site an attractive proposition to potential partners,” said Mr Williams.

“Unfortunately, market forces have meant we have struggled financially, but we are confident that we have the skillsets amongst our people and a tried and tested technology in place that makes us confident about our future prospects. We therefore strongly believe we can help the UK lead the world in the development and application of tidal technology.”

Administrator, Steve Wade, from Begbies Traynor, said the economic climate had had a “significant” impact on the company’s business.

“We hope, however, that by working closely with the board of directors and government agencies we can attract potential purchasers to emerge from a variety of different sources,” he said.

David Jones, Project Director, Marine Energy Pembrokeshire told The Herald: “At a time when this new sector is really gathering momentum in Wales it is disappointing to hear that a Welsh based company, who have played a key role in the sectors development has gone into administration. It highlights the challenges of being at the forefront of a nascent sector.

“In the short-term it is important to work with others to ensure that the skills and knowledge of the TEL team are not lost from the area and their experience can assist other companies who are locating in Pembrokeshire. We need to recognise that the Ramsey project delivered on the funded priorities, which were to develop a technology and site, deploy and grid connect a technology and monitor environmental interactions.

“The project has provided invaluable learning and has assisted local supply chain companies to diversify into a new sector. It is crucial that this experience assists us all moving forward.

“The project site, which is grid connected will be a potentially attractive development opportunity for a number of marine energy companies. Pembrokeshire and Wales with its abundant resource, €100 million of EU Structural Funding for marine energy, world class ports and supply chain capability will continue to attract and support this new important energy sector. Minesto, Marine Power Systems and Wave-tricity have all recently chosen Wales as a destination to develop their technologies and there is real progress being made on our two Demonstration Zones.

He continued: “Combined with the exciting opportunities of tidal range the marine energy sector will continue to play an important role in creating new sustainable low carbon jobs in Wales. The UK is leading the world in this new sector but like many other nascent industries it is inevitable that some technologies will not move beyond an R&D phase.”

Entertainment

Newport Winter Wonderland is the ideal treat for the family this Christmas holiday

Published

19 hours ago

December 24, 2024

Tom Sinclair

THERE is still a chance to attend the Newport Winter Wonderland and experience a magical winter experience. Located next to Friars Walk Shopping Centre (NP20 1UH), the festive attraction opened its doors on Thursday, November 21, and will run until Sunday, January 5, closing only on Christmas Day and Boxing Day.

Visitors can look forward to a real ice rink under cover, ensuring skating fun whatever the weather. Alongside the rink, a large Christmas funfair offers thrills and entertainment for all ages, while stalls serving various Christmas foods promise festive treats to keep everyone warm and satisfied.

For those looking to unwind, a fire pit provides a cosy spot for roasting marshmallows, and a licensed bar offers seasonal drinks to enjoy. Entry to the Winter Wonderland is free, with tickets required only for specific attractions.

Families can also meet Santa Claus himself, making it a perfect outing for creating cherished holiday memories.

For more details, including ticket bookings and opening hours, visit www.newportwinterwonderland.co.uk.

Make sure to wrap up warm and head down to Newport Winter Wonderland for a truly festive day out this Christmas season.

Festive fun: Newport Winter Wonderland features an ice rink, funfair, and Santa Claus (Pic: Herald).

Crime

Arrest after fatal Carmarthenshire hit-and-run

Published

19 hours ago

December 24, 2024

Tom Sinclair

A MAN has been arrested following a fatal hit-and-run collision in Llanpumsaint, Carmarthenshire, on Monday (December 23), which claimed the life of 38-year-old Aaron Jones.

The incident happened near Caer Salem Baptist Chapel between 6:45pm and 7:45pm while Aaron was walking his dog. Police said the vehicle involved, a blue car with noticeable damage, was travelling northbound through the village at the time of the collision.

Dyfed-Powys Police confirmed that the vehicle believed to have been involved has now been located, and a 27-year-old man has been arrested on suspicion of causing death by dangerous driving, failing to stop for a collision, and failing to report a collision.

Specially trained officers are supporting Aaron’s family, who have asked for privacy during this difficult time.

A spokesperson for Dyfed-Powys Police said: “We are appealing to anyone who may have seen the vehicle or has dashcam footage from the area during the relevant times to contact us immediately.”

The road remains closed while investigations continue, and residents can expect an increased police presence in the area.

Anyone with dashcam footage, doorbell camera recordings, or CCTV footage from the area is urged to check their recordings and contact Dyfed-Powys Police immediately using the details provided in the comments.

Community

Lord Nelson Hotel refunds lucky couple the full cost of their wedding day

Published

1 day ago

December 24, 2024

Tom Sinclair

WHAT an amazing Christmas present!

In an extraordinary gesture of generosity, the Lord Nelson Hotel delighted one lucky couple by refunding the full cost of their 2024 wedding. Abby and Simon Hooper, who tied the knot at the historic venue on August 3, were thrilled to learn they were the winners of this year’s giveaway.

The initiative was part of a special promotion open to all couples who celebrated their weddings at the Lord Nelson in 2024. The winners were selected through a random draw using a fair generator system, with the Hoopers emerging as the fortunate recipients.

The hotel has announced plans to continue the tradition in 2025, offering next year’s couples the same opportunity to win their wedding costs back.

A spokesperson for the Lord Nelson Hotel said: “If you’re planning to get married in 2025, it’s not too late to book with us and secure your spot in next year’s draw.

“We are thrilled to celebrate love and create moments to cherish, and this is just one of the ways we give back to our incredible couples.”

Known for its elegant venue spaces and exceptional wedding team, the Lord Nelson Hotel remains a top choice for couples seeking a perfect wedding day. This annual giveaway further cements their commitment to delivering unforgettable experiences.

Abby and Simon Hooper shared their gratitude after their special day: “From start to finish, the team at the Lord Nelson Hotel was incredibly helpful, and nothing was too much to ask.

“The day went smoothly, the food was fantastic, and the staff were polite, hardworking, and attentive. Mia and Jenna, in particular, stood out for their thoughtfulness and attention to detail.

“We couldn’t have asked for a better experience.”