It is intended that full resource research and feasibility be completed by July 2008 with the installation of a 1MW pilot plant by March 2009. Each 1MW unit has a turbine diameter of 11.5 metres and a fully ballasted weight in excess of 2500 tons. Rotech Tidal Turbines can be easily grouped to suit tidal streams in locations worldwide.



Lunar Energy Chairman William Law said: "I am delighted to announce this joint venture which will combine the subsea engineering skills of Rotech with the known fabrication expertise of Hyundai. It is also a testament to the forward thinking management of Korean Midland Power that they have seen the potential in this UK technology both for their company and Korea itself.

Lunar's leading role in this project gives a British company massive potential to exploit the roll out of tidal energy worldwide."

Founded in 2001, Lunar Energy is at the forefront in developing an economical and viable submerged tidal turbine with the aim of producing reliable renewable energy in an unobtrusive manner. This latest contract follows the deal agreed between Lunar and E.ON in March last year and emphasises the increasing recognition by the worldwide power generation industry that tidal stream currents represent a significant renewable energy resource that is predictable, invisible and economic.

Notes to Editors

• Korean Midland Power Co. Ltd is one of three main power generation companies in Korea with investments across a range of power sources.
• Rotech Engineering Ltd are an Aberdeen-based Research and Development company with considerable expertise in the offshore oil and gas industries.
• Hyundai Samho Heavy Industries Co. Ltd. (HSHI) is the world's 5th largest shipbuilder and produces approximately 30 vessels per year. Its yard is located in Yeong-am Gun Jeolanam Do of South Korea. The company belongs to Hyundai Heavy Industries Group.

For more information contact:
Matt Fincham at New Century Media
Tel: 020 7930 8033
email: mattfincham@newcenturymedia.co.uk