Energy investor Kistos Plc has acquired up to a 20% equity interest in Spiralis Energy Ltd, a UK company specializing in the development of tidal energy technology.
The investment will enable Spiralis to conduct long-term survivability tests of its innovative tidal power solution, potentially paving the way for large-scale deployment.
Spiralis Energy's flagship technology, the Axial Skelter, is designed to harness tidal flows with a unique structure resembling a Turritella seashell.
The device features only one moving part, which rotates in the water to generate power. Made from fully recyclable, 3D-printed segments, the tidal generator can be produced in less than a week and assembled in various locations.
Kistos has invested GBP 800,000 (USD 1.03 million/EUR 967,585) in exchange for a 10% equity stake and 10% warrants, giving the investor the right to board representation at Spiralis. The capital infusion will support Spiralis in advancing its technology and further testing.
Kistos Plc, a firm focused on acquiring and managing energy companies engaged in the energy transition, holds assets including natural gas production in the Netherlands, a 20% stake in the Greater Laggan Area (GLA) with four producing gas fields, and a development project with Mime Petroleum AS.
