QED Naval

What QED Naval does

QED Naval Limited is a privately held Edinburgh-based naval-architecture and tidal-energy technology company founded in 2008 by Jeremy Smith, employing 12+ staff across its Edinburgh HQ and Holyhead operations base. Its core product is the Subhub tidal platform — a submersible gravity-based foundation with a proprietary seawater ballasting system that enables self-installation, self-retrieval, and self-alignment to tidal flow using harbor tugs rather than heavy-lift vessels, reducing deployment and maintenance costs by more than 60% and lifting site yields by up to 48% versus conventional foundations. The platform ships in three generations spanning 150kW community-scale (Gen-01) through 2-4MW utility-scale (Gen-03), and pairs with Tocardo tidal turbines acquired via a JV with Inyanga/HydroWing (T-01 community through T-03/T-04 utility, 50kW to 1MW+) whose technology has operated in Dutch storm barriers for over a decade.

The commercial model blends asset-heavy project development (equity positions on the company's own sites, including a wholly-owned subsidiary Mor Energy Limited holding 4.5MW + 5.5MW of UK CfD capacity at the Morlais site in North Wales) with planned asset-light revenue from Subhub manufacturing licensing, dividends from Tocardo turbine sales, recurring remote-monitoring subscriptions, and front-end design and project-management services. Revenue support is underwritten by UK Contracts for Difference (AR5 at £198/MWh, plus AR7a expansion) and EU Interreg grant funding (€29.9m ERDF for the TIGER programme, 2019-2023), and the engineering stack is anchored by an in-house hydrodynamic design tool called TWEET, developed with the University of Edinburgh and the Scottish Association of Marine Science. Customers and partners include the UK Government, Menter Môn Morlais Ltd, EMEC, the Offshore Renewable Energy Catapult, Orbital Marine Power, Minesto, EDF Hydro, and Normandie Hydroliennes, with expansion named into England, Wales, Canada, Indonesia, Japan, South Korea, China, and Chile, and a future-revenue optionality on green hydrogen production tied to tidal energy's near-constant generation profile.

Name

QED Naval

Legal name

QED Naval Limited

Website

https://qednaval.co.uk

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

1–10 employees

Short description

QED Naval Limited is an Edinburgh-based tidal energy technology company that develops and licenses the Subhub submersible tidal platform and Tocardo turbines, serving UK and European marine renewable project developers, utilities, and coastal industrial operators.

Ownership category

akta.pro rank

Product category

Tidal Energy Technology

NAICS

Ship and Boat Building (33661), Ship and Boat Building (3366)

SIC

Engines & Turbines (3510), Ship & Boat Building & Repairing (3730)

akta.pro primary industry

Tidal Stream Power Generation (In-Stream Turbines) (EUACAJAB)

akta.pro secondary industry

Offshore Wind Substructures & Marine Engineering (Monopiles, Jackets, Floating) (EUAMACAE)

Keywords

• Tidal energy technology
• Submersible tidal platform
• Marine renewable energy
• Tidal turbine systems
• Offshore foundation engineering

Headquarters

HQ city

Edinburgh

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Supply Chain, Infrastructure

Revenue model

1. Subhub Manufacturing Licenses: Revenue generated from licensing the manufacture of Subhub tidal platforms to third-party producers.
2. Tocardo Turbine Sales Dividends: Dividends from Tocardo turbine sales, structured through the partially-owned subsidiary Tocardo BV.
3. Remote Monitoring Services: Recurring, long-term income streams from remote monitoring of energy and data from deployed tidal installations.
4. Front-End Design and Project Management: Engineering and project management services for tidal energy project development.
5. Project Development and Equity: Initially operating as developer with equity positions on company sites, operating sites until proven, then selling to generate capital for further development.
6. Hydrogen Generation: Future revenue opportunity from producing Green Hydrogen given tidal energy's near-constant generation profile.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

QED Naval develops and licenses the Subhub Tidal Platform, a submersible gravity-based foundation system that supports tidal turbines through their full lifecycle. Using a proprietary seawater ballasting system, the Subhub self-installs and self-retrieves using commonly available harbor tugs, eliminating the need for expensive heavy-lift vessels. The company also markets Tocardo tidal turbines (acquired via JV with Inyanga/HydroWing) and provides front-end design, project management, and remote monitoring services for tidal energy developers.

Product overview

QED Naval is a tidal energy technology company offering the Subhub tidal platform as its core product, a submersible gravity-based foundation system available in three scales (Community Gen 01, Industrial Gen 02, and Utility Gen 03). The platform integrates with Tocardo tidal turbines (acquired via JV with Inyanga/HydroWing), ranging from 50kW community-scale to 1MW+ utility-scale units. Supporting the hardware portfolio is TWEET, an in-house hydrodynamic design tool for site assessment and performance optimization. The technology enables self-deployment using harbor tugs, reducing installation costs by up to 60% and increasing site yields by up to 48%. The company is currently deploying commercial projects including the 4.5MW Morlais project (CFD AR5) in Wales and operates the world's largest tidal array at the Dutch Oosterschelde storm barrier.

Differentiator

Problem solved

Functional benefit

Brands

• Subhub: Self-deploying submersible gravity-based foundation platform for tidal turbines that reduces deployment and maintenance costs by 60% and increases site yields by up to 48%. Supports through life from integration ashore to deployment, installation and retrieval for maintenance and decommissioning.
• Tocardo
• TWEET

Products and services

• Subhub Tidal Platform A submersible, gravity-based foundation platform that supports tidal turbines through their full lifecycle. Uses a proprietary ballasting system for self-installation, self-alignment with tidal flow, and self-retrieval in a single offshore operation using commonly available harbor tugs, removing the need for expensive heavy-lift vessels. Available in three scales (Gen 01 community, Gen 02 industrial, Gen 03 utility).
• Tocardo Tidal Turbines A range of tidal turbines (T-01 community scale 50-100kW, T-02 industrial scale 100-250kW, T-03 medium utility up to 450kW, and T-04 utility 200kW-1MW+) acquired via JV with Inyanga/HydroWing with over a decade of operational experience in Dutch storm barriers and a 20-year design lifetime. Sold to project developers and integrated with Subhub platforms.
• TWEET - Tidal and Wave Energy Evaluation Tool In-house hydrodynamic design tool for tidal energy site assessment, performance prediction and yield assessment using high-resolution tidal flow simulations, developed with the University of Edinburgh and SAMS. Used by QED Naval for optimizing platform design and positioning in extreme turbulence sites.
• Subhub Manufacturing Licenses
• Remote Monitoring Services

Quantifiable outcome

• 60% reduction in deployment and maintenance costs
• +5 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

15 partnerships are on record, tiered core and minor.

• Inyanga/HydroWingcoreStrategic or Co-development PartnerJoint Venture partnership with Inyanga/HydroWing for acquisition of Tocardo turbines and operation of the Oosterschelde Tidal Project (OTP), the world's largest tidal turbine array. JV partner Hydrowing also awarded 10MW tidal capacity at Morlais site.
• Menter Môn Morlais LtdcoreStrategic or Co-development PartnerPartnership with local publicly owned energy company Menter Môn Morlais Ltd for development of Morlais tidal field off Holy Island, North Wales. Menter Môn developed the fully consented tidal site and grid connection for Subhub deployment.
• Marine Energy WalesminorStrategic or Co-development PartnerPartnership with Marine Energy Wales supporting tidal energy development and deployment in Welsh waters.
• Tocardo BVcoreStrategic or Co-development PartnerAcquired Tocardo tidal turbines company providing proven Dutch engineering technology with over a decade of operational experience in Dutch storm barriers. QED holds partial ownership through JV.
• Offshore Renewable Energy CatapultcoreStrategic or Co-development PartnerProject lead for EU Interreg TIGER project. Leading development and demonstration of tidal energy technology.
• European Marine Energy Centre (EMEC)minorStrategic or Co-development PartnerTIGER project partner providing testing and demonstration facilities in Orkney, UK.
• University of EdinburghminorStrategic or Co-development PartnerPartnership for ETP TWEET Development project - developing state-of-the-art tidal energy forecasting design tools (TWEET) using high resolution tidal flow simulations.
• Scottish Association of Marine Science (SAMS)minorStrategic or Co-development PartnerPartner in ETP TWEET Development providing detailed turbulent tidal site flow measurements for TWEET tool validation.
• Yarmouth Harbour CommissionminorStrategic or Co-development PartnerCollaboration for TIGER project site development in the Solent area near Isle of Wight.
• EDF HydrominorStrategic or Co-development PartnerTIGER project partner from France contributing to cross-border tidal energy development.
• Normandie HydroliennesminorStrategic or Co-development PartnerTIGER project partner from France for tidal energy development in Normandie region.
• Orbital Marine PowerminorStrategic or Co-development PartnerTIGER project partner, fellow tidal energy technology developer based in Edinburgh, UK.
• Minesto ABminorStrategic or Co-development PartnerTIGER project partner, Swedish marine energy technology company.
• UK Marine Energy CouncilminorStrategic or Co-development PartnerIndustry body representing the tidal sector, acknowledged for representing tidal sector in CFD negotiations.
• WieringerwerfminorOthersLocation in Netherlands where Tocardo turbines are manufactured and maintained, with existing 3 turbines and blade sets in workshop.

Scale indicators10 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• Simec Atlantis Energy: UK-listed tidal stream developer operating the MeyGen project (world's first commercial tidal stream array) in Scotland. Direct competitor for UK CfD tidal allocations and a benchmark for commercial-scale tidal deployment.
• Minesto: Swedish marine energy company developing tidal kite technology (Dragon Class) and a TIGER project partner. Comparable as a European marine renewable technology developer pursuing utility-scale tidal generation.
• Orbital Marine Power: Edinburgh-based tidal stream developer and TIGER project partner that operates the O2 floating tidal platform (2MW+). Closest direct competitor to QED Naval in UK tidal stream energy, sharing both geography and CfD auction participation.
• Verdant Power: US-based tidal stream developer operating the Roosevelt Island Tidal Energy (RITE) project in New York's East River. Comparable as an in-stream turbine developer pursuing commercial-scale tidal arrays in a different geography.
• Inyanga Marine Energy Group / HydroWing: JV partner that co-acquired Tocardo turbines and operates alongside QED at Morlais (10MW allocation). Direct competitor and collaborator in tidal stream hardware and project development.
• Sabella: French tidal stream developer (formerly Normandie Hydroliennes) and TIGER project partner from France. Comparable European tidal stream technology developer targeting the same Channel/Atlantic resource.

Emerging players

• Magallanes Renovables: Spanish/UK-based floating tidal platform developer (ATIR platform). Emerging peer with a similar floating-platform business model targeting utility-scale tidal arrays.

Broad incumbents

• Andritz Hydro Hammerfest: Austria-based Andritz subsidiary (formerly Atlantis tidal) and broader industrial incumbent in marine renewable turbine manufacturing. Provides tidal turbines including the AR1500 used at MeyGen; competes with QED's Tocardo line.

Others

• European Marine Energy Centre (EMEC): UK-based tidal and wave energy test facility in Orkney, and a TIGER project partner to QED. Functions as an enabling infrastructure provider for tidal technology validation rather than a competitor.
• Offshore Renewable Energy Catapult: UK technology and innovation accelerator for offshore renewables, and TIGER project lead. Acts as an ecosystem enabler and partner for QED's technology demonstration rather than a direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/qedtidalenergy
• YouTubeyoutube.com/user/QEDNaval
• Facebookfacebook.com/qednaval
• LinkedInlinkedin.com/company/qed-naval-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries2 records

Funding overview

Funding rounds6 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about QED Naval