• Connect With Us:
  • Wave energy developer completes funding round

    Scotland-based wave energy developer Pelamis Wave Power announced it has completed a 5 million pound (US$7.7 million) funding round to support its ongoing investment in wave energy research and development.

    Pelamis, which recently completed the 2.25-MW Agucadoura wave farm off the northern coast of Portugal, said the additional finance will enable it to accelerate construction of the next generation of wave energy converters. (HNN 9/24/08)

    The developer said November 4 the fundraising was supported by a number of existing shareholders including Emerald Technology Ventures, Statoilhydro Venture, BlackRock, Atmos, and SPG Sustainable Performance Group.

    The fundraising also included a 2 million pound (US$3 million) investment from Scottish Enterprise's Scottish Venture Fund, in which Scotland's government invests with private sector partners in innovative Scottish companies.

    Pelamis technology utilizes steel "sea-snakes" that are moored to the seabed to harness wave action for power generation.

    Hydro Industry Financials

    Most Read Articles

    Recent Comments

    Buyers Guide Companies

    Waveberg Development Ltd

    Wave energy converter under development. Requir...

    Continuing Education

    Professional Development Hours
    To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

    Volume 32, Issue 10
    Volume 21, Issue 6

    Archived Articles

    2006 | 2007 | 2008 | 2009 | 2010 2011 | 2012 | 2013
    Hydro Review Past Issues

    Premium Content AD Promo Space