The British Business Bank has invested a total of £1.75 million in Inyanga across four rounds through the Cornwall & Isles of Scilly Investment Fund, which closed to new investees in 2023. An additional £70,000 was committed by FSE Investor Network angels. Richard Parkinson, CEO of Inyanga Marine, stated: “This latest funding round is crucial to the next stage of this project, allowing us to build a demonstrator that includes a number of turbine improvements and developments. We’re delighted that our investors are backing us on this journey to be part of such an important step in tidal energy infrastructure.”
The Morlais project, managed by social enterprise Menter Môn, is a 35-square-kilometer grid-connected tidal stream array in the Irish Sea. Set to be operational in 2026, it could generate up to 240 MW of clean electricity, enough to power approximately 180,000 households. Inyanga’s patented HydroWing technology, featuring a seabed structure with turbine-equipped “wings” that generate power from both incoming and outgoing tides, will be deployed to supply 20 MW over 15 years under two UK Contracts for Difference.
Mike Bowman, Investment Manager at The FSE Group, said: “With contracts in place to supply 20MW of electricity over a 15 year period, Inyanga is at the forefront of the Morlais project. Their highly experienced and specialised team of offshore engineers are well-placed to deliver and we’re thrilled to be supporting the next phase of development and operations in this important venture.”
Inyanga specializes in offshore renewable energy project management, consultancy, and technology development. The HydroWing offers a cost-effective, scalable solution for tidal energy generation. In June, Inyanga secured additional contract awards for its 20 MW tidal array at Morlais, with deployment planned for the first quarter of 2026. The company is also advancing tidal energy initiatives in France, Southeast Asia, and Canada, supported by a £2 million equity investment from the Welsh Government in May.
The Morlais project positions Inyanga as a leader in tidal energy, contributing to sustainable energy goals and regional economic development in Wales through innovative, low-carbon technology.
