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....
Marine Energy

SINN Power won the Global Ideas Award at this year’s Cleantech Open Global Forum for its wave energy converter. SINN Power participated in the annual Global Forum and received $10,000. In a press release, Cleantech Open said: “The Global Ideas Award went to Germany’s SINN Power for their development of the wave energy converter (WEC), consisting...
Marine Energy

Ocean Energy Systems (OES) is predicting strong advances in ocean energy in 2020, driven by public and private sector funding. The last annual report issued by OES highlights significant international investment, including $25 million pledged by the U.S. Department of Energy to support 12 “next-generation” marine energy projects and Wave Energy Scotland committing £7.7 million...
Marine Energy

By Jennifer Runyon In a session called “Emerging Renewable Energy Technologies,” at the recent POWERGEN Europe event, three different tidal energy solution providers delivered the message that tidal energy has a place in the energy mix of tomorrow. Drew Braxland, director with Atlantis Turbines and Engineering Services, gave the audience a glimpse at the Raz...
Finance

Ocean Renewable Power Company, Inc. (ORPC) reports it has closed on commitments for $7.5 million in private equity, allowing it to expand its business development and sales focus in the U.S., Canada and Chile, and, according to management, position the company for growth and profitability. “With our first commercial product launched, we are thrilled to secure the growth capital needed to expand our business development and...
Finance

The U.S. Department of Energy (DOE) has selected projects to receive up to $24.9 million to drive innovative, industry-led technology solutions to advance the marine and hydrokinetics industry and increase hydropower’s ability to serve as a flexible grid resource. Innovative technologies have the potential to increase the affordability of hydropower and marine energy, DOE says. Selected projects will...
Marine Energy

The MUSICA research project has been granted €9 million (US$10 million) to build and test a floating renewable offshore platform, according to a press release from SINN Power. The grant comes from Horizon 2020, a framework supported by the European Union for research and innovation. The MaREI center for Marine and Renewable Energy takes the...
Marine Energy

Interreg France (Channel) England Programme has approved the Tidal Stream Industry Energiser Project, known as TIGER. The project aims to drive the growth of tidal stream energy by installing up to 8 MW of new tidal capacity at sites in and around the Channel region, thus driving innovation and the development of new products and...