Marine Power Systems Ltd (MPS) secures an £8 million investment from Welsh Government
A significant milestone for Marine Power Systems Ltd (MPS) securing an £8 million investment from Welsh Government to accelerate the commercialisation of its deep-water offshore wind platform, PelaFlex.
MPS is the UK’s leading deep-water wind developer focused on advancing offshore wind generation. PelaFlex is designed to enable the installation of wind turbines in waters deeper than 60 meters at an industrial scale which is an area currently uneconomical for conventional fixed-bottom turbines. The technology will help to expand the reach of offshore wind and support the global transition to net zero, not only strengthening Wales’s position but also the UK’s wider impact in innovative renewable energy.
Capital Law’s Corporate and Private Equity team advising on the investment included Tom Kelleher, Elis Phillips and Serra Caunt.
Tom Kelleher, Partner at Capital Law, said:
MPS is at the forefront of the development of the deep-water offshore wind sector, with Wales fast becoming one of the global leaders in this exciting and strategically important energy generation market. Welsh Government’s investment will see MPS accelerate their already impressive commercialisation of deep-water wind innovation and is a testament to the hard work and success of the MPS team.
Elis Phillips, Associate at Capital Law, said:
It has been a pleasure to support MPS with its investment from Welsh Government. As a law firm proud of its base in Wales, we have thoroughly enjoyed playing a part in the next step in MPS’ exciting journey and look forward to seeing its continued growth.
Gareth Stockman, Chief Executive Officer at Marine Power Systems, said:
Marine Power Systems has worked with Capital Law for a number of years, and once again we are pleased to have selected them to support us on this transaction. The team demonstrated a high level of expertise, cutting through complexity without compromising on quality, and providing timely, pragmatic advice throughout. Their approach undoubtedly helped to expedite completion of the Welsh Government investment. An utterly professional team and a pleasure to work with – our thanks to everyone at Capital Law from all at Marine Power Systems.
Tom Kelleher
Partner
Corporate & Private Equity, Corporate Advisory, Growth & Venture Capital, Mergers & Acquisitions, Private Equity
Tom is a Partner, who leads our Corporate & Private Equity team. Tom is an experienced mergers and acquisitions lawyer, specialising in private equity and venture capital, acting for private equ... Read More
