UK wave energy firm calls in administrators

A wave energy company based in Edinburgh has called in administrators. Aquamarine Power had been testing its ‘Oyster’ wave energy machines at the European Marine Energy Centre (EMEC) in Orkney. The economic climate however is said to have “significantly” affected the business. Aquamarine said its 14 employees would be retained as attempts are made to […]

Green light for ‘world’s largest’ wave energy farm

The Scottish Government has given full consent for a wave energy farm, making it the “world’s largest” fully permitted commercial ocean energy site. The 40MW farm off the northwest coast of Lewis in Scotland was given the green light by Scottish Energy Minister Fergus Ewing at the All Energy conference in Aberdeen. The project will […]

Saltire prize boosts marine energy

ELN Editor Sumit Bose takes to the Orkney islands to find out why the Scottish Government hopes the public-funded £10million Saltire Prize will boost the country’s marine energy, along the way speaking with Scotland’s Deputy First Minister Nicola Sturgeon. He hears from some of the companies involved in Scotland’s growing wave and tidal sector, including ScottishPower […]

£10m energy challenge will see “renaissance” of skills

A £10 million prize launched yesterday to harness marine power in Scotland could make the country a world leader in renewable energy. The Saltire Prize competition, funded by the Scottish tax payer, will pit four private companies against each other to see who can generate the most power from the sea. The devices installed in […]

Rocketing ROC support for marine power is "heartening"

Marine energy firms have hailed the Government’s “heartening” new plans for the green energy subsidy, the Renewables Obligation. Tidal stream and wave power are set to be big winners under new proposals for the Renewables Obligation with the support for them due to rocket from 2 to 5 ROCs per MWh. Martin McAdam, Chief Executive […]

Scottish wave energy firm bags £7m extra funding

Scottish wave energy company Aquamarine Power has bagged £7million extra funding from its investors to commercialise its Oyster technology. The Oyster is a wave-powered pump which pushes high pressure water to drive an onshore hydro-electric turbine. Announcing the news today, Scotland’s First Minister Alex Salmond said: “This is great news for Scotland’s world-leading wave power […]

Smart meter firm wins Company of the Year

Smart metering firm Bglobal has been named Company of the Year at the Rosenblatt New Energy Awards 2011, which recognises excellence in the renewable and clean-tech industries. The Lancashire-based company, which provides smart metering for energy suppliers and firms across the UK, has posted substantial increases in turnover and profits in the past financial year […]

Aquamarine Power bags £11m further investment

Wave energy developer Aquamarine Power has netted £11m-worth of new investment. The announcement was made today as Scotland’s First Minister Alex Salmond officially opened the company’s new offices in Edinburgh. The new funds comprise £8m from ABB, a Swiss-Swedish multinational specialising in power technologies, and £3m from Aquamarine Power’s existing shareholders, including £2.7m from Scottish […]

BAE helps create wave power converter

One of the companies that got a slice of a £7m windfall to finance tidal development has teamed up with defence giant BAE Systems to create a wave power device. Aquamarine Power won a £450,000 grant from the government’s Technology Strategy Board to support a 30-month research and development scheme to try to make its […]

Wave and tidal firms win £7m funding

Nine wave and tidal research and development projects have won funding worth $£7m. Some £6.6m of the money is coming from the Technology Strategy Board, a government-backed funding programme, while £400,000 is being out up by the Engineering and Physical Sciences Research Council. The nine projects are run by Aquamarine Power, Aviation Enterprises, AWS Ocean […]