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Wave-energy firm Aquamarine Power raises £10 million

Wave energy developer Aquamarine Power announced today that it's successfully closed its first round of fundraising with £10 million from investors in the UK and Ireland. "Raising substantial funds in these exceptionally difficult market conditions is an incredible achievement for Aquamarine," said CEO Martin McAdam. "It proves that there is considerable investor appetite for renewable energy…

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Firms team up to optimise wave energy technology

Cornwall-based Orecon has signed a memorandum of understanding with Dresser-Rand Company, which has offices in Peterborough and the US, to to optimise the chamber and turbine design for a multi-resonant chamber (MRC) wave energy conversion device. Orecon's MRC device combines oscillating water column (OWC) technology with Dresser-Rand's HydroAir™ bidirectional air impulse turbine technology. The OWC is…

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Aquamarine’s new strategy to focus on wave energy

Following a strategic review of its business, Scotland-based Aquamarine Power has decided to abandon development of its tidal stream device, Neptune, to focus on commercialisation of its Oyster® Wave Energy Converter. The company plans to keep the Neptune technology in its product pipeline, and will continue developing tidal sites on a "technology-neutral" basis with utility partners. Aquamarine…

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wave energy – The Global View

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