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wave

Renewables/Energy Transition

Eco Wave secures venture funds for marine energy systems

Eco Wave Power, an Israeli maker of ocean energy systems, raised initial funding for a $150 million pipeline of planned projects to use waves to generate electricity. The technology maker secured $2 million from Pirveli Ventures, with a representative of Pirveli joining its board of directors, Eco Wave said Monday. It will use the funds to start to develop 111 megawatts of marine-energy projects planned in countries including the UK, China, Mexico and Chile, co- founder Inna Braverman said.

Renewables/Energy Transition

Wave-energy body taps into Oyster expertise

Green-energy technology development body Wave Energy Scotland (WES) has struck a deal allowing it to tap into expertise at Aquamarine Power, the firm behind the Oyster wave-power machine. The three-month tie-up is known as Project Know-How and allows WES, which was established as part of Highlands and Islands Enterprise late last year at the request of the Scottish Government, to benefit from knowledge gained through the development of Oyster technology.

All-Energy

All-Energy 2015: EU Horizon 2020 programme grants €17million for wave power research

The European's Commission's research and innovation programme Horizon 2020 has granted €17million in funding for the Clean Energy From Ocean Waves (CEFOW). The five-year project is to research and develop the use of the Penguin wave energy converter, which was developed by the Finnish company Wello, in electricity grid conditions. The multi-device test project will be carried out at Wave Hub in Cornwall.

Renewables/Energy Transition

ORE Catapult dismisses oil and gas supply chain for wave and tidal

Money and lots of it . . . public and private . . . is needed to initiate a credible wave and tidal energy power generation sector in the UK, which a new report claims could be worth up to £76billion to the economy. However, the idea that the oil and gas supply chain can kick-start the market “is not easily realised” because it is “too expensive”, according to a new report by the Glasgow-based ORE Catapult initiative. It claims that this is because the oil and gas supply chain designs and makes equipment to “operate at extreme depths, in benign tidal flows, and low oxygenated waters”.

Renewables/Energy Transition

Staff at Pelamis made redundant

Wave power company Pelamis has made its remaining staff redundant after no final offers were made for the business. Highlands and Islands Enterprise has been selected as the preferred bidder to take over the company’s assets. Administrators were called in last month after Pelamis failed to secure enough funding to develop its technology.