The investment takes SSE’s total investment in the company over the last three years to £19.8m, giving it a 45 per cent stake.
ABB Technology Ventures, the technology investment arm of ABB Group, has also decided to invest £8m in Aquamarine Power.
Aquamarine Power is currently developing a hydro-electric wave energy converter, Oyster 2, which is expected to be deployed next year. Oyster 1 is already undergoing trials at the European Marine Energy Centre in Orkney.
The 800kW Oyster 2 model measures 26 by 16m and was unveiled in May this year.
While the overall design concept remains the same as the 300kW Oyster 1, each component of Oyster 2 has been improved to increase efficiency. In addition, all of the device’s hydraulic elements are now modular, so they can be changed more easily during maintenance and installation.
Project to investigate hybrid approach to titanium manufacturing
What is this a hybrid of? Superplastic forming tends to be performed slowly as otherwise the behaviour is the hot creep that typifies hot...