Investors’ consortium makes play to save OpenHydro from collapse

Investors’ consortium makes play to save OpenHydro from collapse
OpenHydro installation: the troubled tidal energyfirm employs 110 people in Ireland

The move puts founders on a collision course with the company’s majority owner

A consortium of founding investors in OpenHydro, the debt-laden tidal energy company, are funding a bid to find new backers for the company, a move designed to save the company from liquidation.

The grouping have agreed to underwrite the costs for an interim examiner to manage the business, as part of a plan to agree a scheme of arrangement with creditors.

The move puts the founders on a collision course with the French giant Naval...

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