Marine Energy

Marine services company Malin Renewables has secured a £1 million (US$1.3 million) contract to supply a 50-tonne wave energy converter. Malin has been appointed by AWS Ocean Energy Ltd to build the half-scale Archimedes Waveswing device, designed for offshore wave energy production. Development of the Archimedes Waveswing is funded by Wave Energy Scotland through its Novel...
Marine Energy

Marine energy developer Minesto has signed a power purchase agreement (PPA) with electric utility SEV, advancing the parties’ collaboration to integrate tidal energy in the Faroe Islands’ electricity mix. The PPA comprises the planned installations of two 100-kW systems of Minesto’s subsea kite technology and an additional 2-MW capacity allocated for installations of utility-scale tidal...
Finance

Atlantis announces that its bond offer has raised £3.79 million (US$4.9 million) and is now closed. The five-year bond has a coupon of 8%, payable semi-annually, and matures in 2024. The bond was offered through Abundance Investment Limited, the provider of a regulated green peer-to-peer investment platform. When Atlantis launched the bond in August 2019,...
Marine Energy

Representatives of the Politecnico di Torino and Eni have signed a memorandum of understanding to further strengthen scientific collaboration and undertake a joint academic initiative to study energy from marine resources. This agreement will involve the launch of the “MarEnergy Lab” research laboratory, which will investigate specific issues, enhance related understanding, and contribute to the...
Job Transitions

Strategic Marketing Innovations (SMI) announces that Jeff Leahey has joined the firm as a vice president. Previously, Leahey served as executive vice president for government affairs of the National Hydropower Association (NHA). “Jeff is one of the nation’s leading advocates on hydropower and marine energy,” said SMI Chief Operating Officer Bill McCann. “He understands the...
Marine Energy

Ocean Renewable Power Company Inc. (ORPC) announces that current  director Stuart Davies will succeed Chris Sauer as the company’s chief executive officer. Sauer’s retirement is effective Jan. 17, and Davies will begin his new role Jan. 20. Under Sauer’s leadership, ORPC developed its proprietary marine renewable energy technology from an initial concept to a proven renewable energy product, the RivGen® Power System. The...
Job Transitions

Ocean Renewable Power Company Inc. (ORPC) announced that its chief executive officer and co-founder, Chris Sauer, will retire on Jan. 17, 2020. Sauer and two others started ORPC in September 2004. After initially serving as chief technology officer, Sauer took on the duties of CEO in 2006. Under his leadership, ORPC developed its proprietary marine renewable energy technology from an initial concept to a...
Marine Energy

By Pamela Largue Tidal energy company Nova Innovation has received a permit to develop a 1.5-MW tidal array in Petit Passage, in the Bay of Fundy area of Nova Scotia, Canada. A carefully phased approach starting with a single turbine in 2020, then three phases of 0.5 MW, will eventually see 15 new tidal stream...
Marine Energy

Tidal Power Plc has launched a £1.2 million (US$1.6 million) fundraiser to enable the conclusion of works to secure in perpetuity the planning permission awarded to the 320-MW Swansea Bay Tidal Lagoon. Shares are £2.50 and offered at a minimum subscription of £500, and the investor memorandum targets high-net-worth individuals or experienced private company investors....