Aquamarine plan to secure further investment 15/9/13
The wave farm developer which plans to build a marine energy scheme off Lewis says
Scottish Government funding should help it tap into more investment to expand.
Aquamarine Power are currently testing full scale wave machine, known as the Oyster,
at the European Marine Energy Centre (EMEC) in Orkney, and are now producing electrical
power to the grid.
Commenting on the announcement of new wave energy funds by Fergus Ewing MSP, Aquamarine
Power Chief Executive Officer Martin McAdam said: “Aquamarine Power has proved Oyster
works and can generate power in our ocean’s most powerful storms. Oyster has now
been operating in nine metres waves which few other technology developers have achieved.
“Our major challenge is to continue to secure the investment required to further
improve the reliability of our current Oyster 800 machine and begin the design of
our next-generation Oyster 801.
“The industry continues to suffer from significant under-investment and this type
of grant support is essential. I hope that this grant funding will encourage major
Scottish and UK firms to see the potential of this industry and take an interest
in its success through investment and partnership.
"We are very grateful for the continued support and confidence of the Scottish Government
in our technology.
"I hope that this award will help us to attract the major investment we require to
develop a commercially competitive wave energy technology. ”