EDINBURGH, Scotland 5/30/12 (PennWell) -- The European Commission has awarded hydrokinetic energy developer Aquamarine Power first prize in the product category of its European Business Awards for the Environment for the company’s Oyster wave technology.
Aquamarine Power received the award at the Royal Museum of Art and History in Brussels last week as part of the commission's annual conference on environmental policy.
The awards are given to companies that combine innovation, competitiveness and outstanding environmental performance. Aquamarine was selected from a field of more than 150 entrants and first had to compete at the national level before being selected to compete at the European level.
The Scotland-based company says it was selected for developing a product that makes "an outstanding contribution to sustainable development."
"Marine energy has a massive role to play in helping Europe meet its challenging carbon reduction targets," says Aquamarine Chief Executive Officer Martin McAdam. "This award recognizes the potential that technologies such as Oyster have, not just in moving to a green energy future, but also in providing new growth areas for European economies and new opportunities for coastal communities reliant on declining natural resources," McAdams says.
HydroWorld.com reported in March that two of Aquamarine's Oyster wave energy converters had been installed as part of the European Marine Energy Centre (EMEC) off the coast of Orkney, Scotland. The company says it is also testing its units at a number of sites along the Oregon coast.
"Resource efficiency is key to a competitive, sustainable Europe," says Janez Potocnik, European Commissioner for the Environment. "They are green growth in action and I applaud them."