Penningtons Manches Cooper advises Caudal Energy on £4.3 million funding round
Penningtons Manches Cooper has advised Caudal Energy on its £4.3 million funding round, led by Oxford Science Enterprises and Empirical Ventures, with participation from Zero Carbon Capital and Creator Fund.
Founded in 2024, Caudal Energy is a University of Oxford spinout developing renewable power systems powered by tidal flows. Caudal’s modular, surface-mounted architecture is designed to operate in mid-flow tidal locations, significantly expanding the number of viable deployment sites compared to traditional tidal systems.
This funding will support full-scale testing of Caudal’s breakthrough fin-based system at Strangford Lough in Northern Ireland, with commercial deployment targeted for 2028.
The Penningtons Manches Cooper team was led by Will Axtell with key support from Anoushka Gangji and Leo Shrimpton.
John Kennedy, chief executive officer of Caudal Energy, said: “The future energy system needs renewable power that is not only clean, but dependable and built to scale. We founded Caudal to challenge the assumption that tidal energy has to remain complex, costly and niche. By unlocking the potential of mid-flow tidal sites, we believe Caudal can dramatically expand where tidal energy can be deployed and how commercially competitive it can become.
“We enjoyed working with the Penningtons’ team – they were highly responsive, cut to the chase on the issues and were solution focussed. We hope to work with them again.”
Will Axtell, corporate partner at Penningtons Manches Cooper added: “We really enjoyed supporting Caudal Energy on this important fundraising. They have a great team and some excellent technology, which is inspired by the efficiency of the caudal fin in nature. Designed to work efficiently across a wide range of tidal flows, their fin-based system converts energy through hydrodynamic lift and motion rather than traditional turbine rotation. This provides a smarter approach to unlock predictable renewable power from abundant mid-flow tidal resources around the world. This is a company with great potential!”