What Magallanes Renovables does

Magallanes Renovables, S.L. is a Spanish privately-held renewable energy company founded in 2009 in Redondela, Galicia, that engineers, designs and manufactures floating tidal energy platforms. Its core product is the patented ATIR (Atlantic Tidal Energy Device) - a floating barge, anchored to the seabed, that suspends counter-rotating turbines approximately 15 meters underwater to extract energy from bidirectional tidal currents. The full-scale ATIR measures 42 meters in length, weighs 350 tonnes and is rated at 2 MW per platform; a next-generation ATIR 2.0 with combined 1.5 MW output (using Blades 3.0) is in development for deployment at the Morlais site in North Wales. The company leverages mature wind and naval industry engineering to minimize technology risk, with features including modular construction, a 145-tonne ballast stabilization system, and surface-accessible powertrain design intended to reduce operating costs.

The company sells electricity (in the future) to grid operators and developers under long-dated offtake arrangements - most notably a 15-year fixed-price UK Contracts for Difference (CfD) contract awarded in 2024, with commercial generation targeted by 2026. Until commercial deployment, the company is sustained almost entirely by EU and Spanish public R&D grants (BlueInvest 2020, CDTI Misiones 2022, IGAPE/GAIN 2024) and pre-commercial engineering partnerships. Customers and partners include the UK Government (via CfD), Menter Môn (Morlais infrastructure), the European Marine Energy Centre (EMEC) in Orkney, Leask Marine and academic consortia (Tecnalia, Swansea University, Technion, University of Dublin). The company operates a wholly-owned UK subsidiary, Magallanes Tidal Energy Ltd., and is led by Founder/Chairman Alejandro Marques de Magallanes and Managing Director Mario Iglesias Casals, with a 1-10 employee headcount.

Name

Magallanes Renovables

Legal name

Magallanes Renovables, S.L.

Website

https://magallanesrenovables.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

1–10 employees

Short description

Magallanes Renovables is a Spanish renewable energy company that designs and manufactures the patented ATIR floating tidal energy platform, selling future electricity generation to UK grid operators under 15-year fixed-price Contracts for Difference and partnering with EMEC and the Morlais tidal project for deployment.

Ownership category

akta.pro rank

Product category

Marine Renewable Energy Equipment

NAICS

Turbine and Turbine Generator Set Units Manufacturing (333611)

SIC

Engines & Turbines (3510)

akta.pro primary industry

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

akta.pro secondary industries

Marine & Hydrokinetic R&D (Tidal, Wave, River Current, OTEC) (EUAMAOAD), Marine Power Generation & Energy Storage (Generators, Batteries, UPS) (IMAJAJAB)

Keywords

• Floating tidal platforms
• Tidal energy conversion
• Marine renewable energy
• Tidal stream turbines
• Ocean energy systems

Headquarters

HQ city

Redondela

HQ country

Spain

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Tidal Energy Generation Sales: Sale of electricity generated from tidal energy platforms to grid operators. Revenue secured through long-term fixed-price contracts (15 years) under UK Contracts for Difference (CfD) mechanism. Company has been awarded fixed-price long-term contract for renewable energy generation by 2026.
2. Research and Development Funding: EU and regional government funding through programs including CDTI Misiones, Galicia Exporta Empresas, VANGUARD-VINNOVATE, and Re-acciona project. Funding supports development of next-generation tidal turbine technology and international expansion.
3. Platform Manufacturing and Deployment: Engineering, design, and manufacturing of floating tidal energy platforms for commercial deployment. Revenue generated from construction and installation of ATIR systems at designated tidal energy sites.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels11 records

Core offering

Magallanes Renovables engineers, designs, and manufactures floating tidal energy platforms (the ATIR) that harness tidal currents to generate clean electricity. The ATIR is a 350-tonne, 42-meter floating platform with submerged counter-rotating turbines producing 2 MW of power, with a next-generation ATIR 2.0 producing 1.5 MW planned for commercial deployment. Revenue is generated through the sale of electricity under long-term Contracts for Difference (CfD) and through the engineering, construction, and installation of ATIR platforms at marine energy sites.

Product overview

Magallanes Renovables offers a unified portfolio centered on its patented ATIR floating tidal energy platform. The ATIR is a floating tidal mill that extracts energy from ocean currents using counter-rotating turbines mounted on a mast beneath a symmetric floating hull. The company is currently developing ATIR 2.0, featuring double high-output rotors with 1.5 MW combined capacity, targeting commercial deployment at sites like the Morlais project in Wales and Scottish waters. The technology leverages established wind and naval industry expertise to minimize technology risk while focusing on the unique challenges of tidal energy extraction.

Differentiator

Problem solved

Functional benefit

Brands

• ATIR: Floating tidal energy platform with counter-rotating turbines. Current generation produces 2 MW; next generation (ATIR 2.0) planned with 1.5 MW combined power output.

Products and services

• ATIR Floating Tidal Energy Platform A floating tidal energy platform that harnesses tidal currents to generate clean electricity for utility companies, grid operators, and government energy programs. It features a 350-tonne floating barge with rotors suspended below the surface and counter-rotating turbines extracting energy from bidirectional tidal flow.
• ATIR 2.0 Next-Generation Tidal Platform Next-generation floating tidal mill featuring double high-output rotors with combined 1.5 MW power output and an updated Blades 3.0 design. It is targeted for commercial deployment at the Morlais project in North Wales and Scottish waters for utility-scale tidal energy generation.

Quantifiable outcome

• 2 MW power generation capacity per platform
• +4 more outcomes

Named customers3 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

22 partnerships are on record, tiered core and minor.

• BlueInvestcoreGTM or Marketing Partner · 1 January 2020EU programme that helped secure first large investment round by preparing team for growth opportunities. Coach helped shape strategy, craft business plan, and prepare for fundraising.
• TecnaliacoreStrategic or Co-development PartnerResearch and technology development partner in the NEMMO project focused on optimizing tidal turbine blade design and performance for floating tidal turbines enabling devices to reach capacities over 2 MW.
• INPREcoreStrategic or Co-development PartnerConsortium partner in NEMMO project working on next generation blade technology for tidal turbines.
• TechnioncoreStrategic or Co-development PartnerIsraeli technical university partner in NEMMO project contributing research expertise to tidal turbine optimization.
• University of DublincoreStrategic or Co-development PartnerAcademic partner in NEMMO project providing research and development capabilities for tidal energy optimization.
• CanoecoreStrategic or Co-development PartnerNEMMO project consortium partner contributing to composite blade development for floating tidal turbines.
• FunditecminorStrategic or Co-development PartnerTechnology consultancy partner in NEMMO project supporting tidal energy research.
• SSPAminorStrategic or Co-development PartnerMaritime research partner in NEMMO consortium focused on hydrodynamics and performance optimization.
• ITAINNOVAminorStrategic or Co-development PartnerResearch and technology partner in NEMMO project contributing to blade materials testing.
• SPNANOminorStrategic or Co-development PartnerNanomaterials partner in NEMMO focused on advanced composite materials for turbine blades.
• OEE (Ocean Energy Europe)coreStrategic or Co-development PartnerIndustry association partner in NEMMO project representing marine energy sector interests.
• BLAESTminorStrategic or Co-development PartnerBlade technology specialist partner in NEMMO consortium.
• Leask MarinecoreStrategic or Co-development PartnerPartner in Ocean_2G project for testing, validating and pre-certifying 2MW tidal energy platform solution progressing towards commercialisation.
• IM FuturecoreStrategic or Co-development PartnerOcean_2G project partner focused on next generation tidal energy technology validation.
• EMEC (European Marine Energy Centre)coreStrategic or Co-development PartnerTest and validation partner in Ocean_2G project. EMEC is the leading marine energy test facility where ATIR platform is deployed for testing in Scottish waters.
• Swansea UniversitycoreStrategic or Co-development PartnerAcademic lead in MONITOR project investigating reliability of tidal energy converters and developing tools to improve device reliability.
• Université le Havre NormandieminorStrategic or Co-development PartnerMONITOR project consortium partner researching tidal energy converter reliability.
• Universidade do AlgarveminorStrategic or Co-development PartnerMONITOR project academic partner contributing to tidal energy reliability research.
• Coláiste na hOllscoile Corcaigh (Cork)minorStrategic or Co-development PartnerIrish university partner in MONITOR project focused on tidal energy reliability analysis.
• SabellacoreStrategic or Co-development PartnerFrench tidal energy company partner in MONITOR project sharing expertise on device reliability for the industry.
• ORE Catapult (Offshore Renewable Energy Catapult)coreStrategic or Co-development PartnerUK innovation and research center partner in MONITOR project working with industry to develop tools to improve device reliability.
• Menter Môn (Morlais Project)coreStrategic or Co-development PartnerSocial enterprise overseeing Morlais infrastructure, the largest licensed tidal energy project in Europe. Company is developing ATIR platform for deployment at this site with potential to power 180,000 homes.

Scale indicators8 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Sabella: French developer of tidal stream turbines (D10, later D03) deployed in Brittany and a MONITOR project consortium partner alongside Magallanes. Operates in the same in-stream tidal category targeting similar European utility customers.
• Nova Innovation: Scotland-based tidal stream developer with multiple deployed turbines at EMEC; competing for UK CfD contracts and Morlais deployments with floating and seabed-mounted units.
• SIMEC Atlantis Energy: UK-listed tidal stream operator (MeyGen, AR1500 turbines) which is a lead developer at MeyGen and a competitor for European marine energy project pipelines.
• ANDRITZ Hydro Hammerfest: Norwegian tidal turbine manufacturer (HS1000, HS3000) with European demonstration projects; competing for utility-scale tidal deployments.
• Orbital Marine Power: Scottish developer of the O2 floating tidal stream turbine (2 MW class) deployed at EMEC Orkney. Most direct competitor to Magallanes' ATIR — same geography, same test site, overlapping target market of UK CfD-awarded tidal sites and Morlais.
• Minesto: Swedish developer of the Deep Green tidal kite system; competing for European utility-scale tidal contracts and UK CfD allocations as a marine energy peer.

Others

• Ocean Energy Europe: Industry association representing ocean energy developers; a NEMMO project partner and the broader ecosystem in which Magallanes operates as a thought leader.
• Ocean Renewable Energy Power Company (ORE Catapult): UK innovation catapult focused on offshore renewables; a MONITOR project partner with Magallanes providing test facilities and reliability research, analogous infrastructure used by competitors.

Emerging players

• Tocardo: Dutch tidal turbine developer with demonstration projects in the Eastern Scheldt; competes in the same European tidal stream category.
• Sustainable Marine Energy: Canadian-headquartered tidal platform developer (PLAT-I) that has deployed at EMEC; overlapping UK/Morlais presence with Magallanes ATIR.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/magallanestidal
• Facebookfacebook.com/magallanesrenovables
• LinkedInlinkedin.com/company/magallanes-renovables
• Instagraminstagram.com/magallanesrenovables

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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 Magallanes Renovables