//Scottish Firm Increases Investment in Renewable Energy

Scottish Firm Increases Investment in Renewable Energy

Edinburgh-based Aquamarine Power, which claims to be the only UK firm developing wave and tidal energy generation devices simultaneously, has made a “significant investment” in Ocean Flow Energy, from North Shields. Aquamarine Power has increased its technology portfolio to spur its activities in the renewable energy sector.

The company believes that Ocean Flow Energy’s Evopod system, which is a moored semi-submersible structure for use in deep waters, could be used to house its Neptune tidal-stream energy converters.

“This is a major milestone on the path to commercialisation for Ocean Flow Energy and demonstrates the confidence that people have in the device and its potential to create clean, green energy” said Graeme Mackie, Managing Director Ocean Flow Energy.

A successful collaboration between the two technologies could open the possibility of exploiting all of the UK’s marine resources, of which more than 50 per cent are found in waters over 40-metres deep.

Martin McAdam, Chief Executive of Aquamarine Power, said the investment is an important step in gaining access to the full potential of Britain’s tidal-stream energy.

Graeme Mackie, Ocean Flow Energy Managing Director, added: “This is a major milestone on the path to commercialisation for Ocean Flow Energy and demonstrates the confidence that people have in the device and its potential to create clean, green energy.

Earlier this year, Aquamarine Power was named Emerging Technology Promoter of the year at the Global Renewable Energy Awards 2008.

This video is made up of footage taken from the first few days of testing Evopod – fully installed in the Strangford Narrows near Portaferry, Northern Ireland.

1/10th scale Evopod – Sea Trials for Renewable Energy Device from OceanFlowEnergy on Vimeo.