Wave energy firm rides €2m swell to test its tech

An innovative wave energy company has raised €2 million (£1.8m) to help test its technology in a full-scale environment. Laminaria secured the funding from investment groups QBIC II and PMV […]

Register now!

By Jonny Bairstow

An innovative wave energy company has raised €2 million (£1.8m) to help test its technology in a full-scale environment.

Laminaria secured the funding from investment groups QBIC II and PMV and existing investor the Commonwealth Environmental Investor Platform (CEIP).

It will use the money to further develop its wave power technology and test a 200kW full-scale demonstration project at the European Marine Energy Centre (EMEC) in Orkney, Scotland.

The company tested a 1:5 scale version of its wave device in the North Sea two years ago, which successfully generated electricity.

Proving survivability in extreme storm conditions is a key focus of the project’s next stage.