Wave and tidal power join forces

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Renewable Technology Ventures has joined forces with wave energy company Aquamarine Power to form a new company

Scottish and Southern Energy (SSE) subsidiary Renewable Technology Ventures Ltd (RTVL) has joined forces with wave energy company Aquamarine Power to form a new company.

The joint venture, to be known as Aquamarine Power Ltd, plans to be the first in the world to deploy both wave and tidal devices on a commercial scale. SSE has made an initial investment of £6.3m in the new company, which has also secured further £1.5m investment from Sigma Capital Group.

Aquamarine Power will continue work on its Oyster hydro-electric wave power device, and will also deliver a new tidal device.

The company has been working with partners, including the wave power research team at Queen’s University Belfast, to develop the Oyster device, which is scheduled for full scale testing at EMEC in Orkney within the next six months. A year later they aim to deploy the first Oyster Hydro-Electric Wave Farm for demonstration and testing.

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