Scottish wave project gushes with £2.5m investment

A Scottish project to convert the movement of waves into electricity has won £2.5 million in funding. The magnetic gear project has been selected by Wave Energy Scotland (WES) for the final stage of its Power Take Off (PTO) programme, which aims to develop solutions to create wave energy. Tim Hurst, WES Managing Director said: […]

Wello wins Chinese wave energy contract

A Finnish wave energy company is entering the Chinese market after winning a contract. Wello has signed an agreement with CIMC OEI to start the research phase for a wave energy converter (WEC) design for Chinese markets. The wave climate in China is said to be “slightly milder” compared to Northern Atlantic waters, where its […]

Minesto to develop smaller ‘sea kite’ wave tech

A wave energy company intends to expand its market share by developing a new, smaller version of its underwater turbine technology. Minesto says a smaller version of its Deep Green device, called the DG100, would allow the company to enter new markets and engage in larger business opportunities, including those in Asia. The smaller DG100 […]

Finnish clean energy makes waves in Bali

A Finnish clean energy company is to deliver a 10MW wave energy park in Bali. Wello’s first commercial wave energy park has been ordered by Gapura Energi Utama, an Indonesian infrastructure company. The developer says the facility will produce zero emissions and expects it to be the largest wave energy park in the world. It’s […]

New online wave and tidal Matchmaker hub plays cupid

A new online hub to help subsea companies bid for wave and tidal energy contracts has been developed. Wave Energy Scotland (WES) and National Subsea Research Initiative’s (NSRI) online ‘Matchmaker’ database has specifically been designed to help companies find other organisations with the expertise they’re looking for and highlight their own credentials. The service is […]

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 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 […]

Marine developer catches $3m wave of new investment

A wave energy developer has raised $3 million (£2.3m) in its second round of fundraising. This gives Eco Wave Power (EWP) a pre-money valuation of $40 million (£31m), an increase of 3.5 times on the company’s worth during its first round. The latest funds secured will be used to expand the renewable energy firm’s team […]

Queen’s Uni receives €9.3m for new wave of research

Queen’s University in Belfast has been granted more than €9.3 million (£8.3m) in funding for research into marine-based renewable energy sources. The Bryden Centre for Advanced Marine and Bio-Energy Research will use the money for green projects, with a particular focus on wave and tidal power generation. It includes the use of tidal power at […]

Swansea Bay Tidal Lagoon branded ‘hideously expensive’

The Swansea Bay Tidal Lagoon is “hideously expensive” and offshore versions of the technology could provide power at a quarter of the price. That’s according to Dale Vince, the founder and CEO of UK renewable energy firm Ecotricity, who has called on the government to resist pressure to back the £1.3 billion facility. Mr Vince claims Tidal Lagoon […]

Wave power ‘could provide tenth of demand by 2050’

Wave power could provide a tenth of global electricity demand by 2050. That’s according to UK wave technology firm Marine Power Systems (MPS), which suggests with the right support, global capacity could rise to 337GW and hold a market value of £76 billion. The firm says it would provide an estimated 4,000TWh of electricity per year, which would make […]