Marine Current Turbines
UK business

Marine Current Turbines Ltd (MCT), was a United Kingdom-based company that developed tidal stream generators, most notably the 1.2 MW SeaGen turbine. The company was bought by the German automation company, Siemens in 2012, who later sold the company to Atlantis Resources in 2015.
History
MCT was founded in 2000 to develop ideas of tidal power developed by Peter Fraenkel, who had previously been a founder partner of IT Power, a consultancy established to further the development of sustainable energy technologies. The company was based in Bristol and employed 15 people in 2007.
By 2003, MCT had installed a 300 kW experimental tidal turbine 3 kilometres (1.9 mi) northeast of Lynmouth, Devon and by 2008 they had a 1.2 MW turbine, SeaGen, in Strangford Lough, Northern Ireland which was able to feed electricity into the National Grid.
They had contracts to install a full tidal farm in the Skerries, off northwest Wales, and projects in the Bay of Fundy, Nova Scotia and Vancouver, British Columbia, Canada, however these projects never progressed.
In February 2012, Siemens acquired a majority share in the company, raising its holding from 45% to over 90%. MCT was wholly owned by Siemens, as part of the Hydro and Ocean Business, before being transferred to the Renewables business, and finally divested to Atlantis Resources in 2015 who effectively shut the company down.
Technology
The technology developed by MCT works much the same as a submerged windmill, driven by the flow of water rather than air. Tidal flows are more predictable than air flows both in time and maximum velocity, therefore, it is possible to bring designs closer to the theoretical maximum.
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