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The funding will support the design and testing of a fully-submerged membrane-style wave energy convertor capable of generating large amounts of electricity - paving the way for the developers, Bombora Wave Power Europe, to construct and commercialise the technology from its Pembrokeshire base.
V S Hariharan, Co-founder of Third Wave Power Pte Ltd described his association with the fund, "Prestellar Ventures has gone beyond its role as an investor to find new partners for TWP to generate revenues, and develop a wider distribution network.
Cal Wave Power Technologies and Waveswing America were awarded second and third place.
Compared with wind and solar technology, wave power generation technology is at least a dozen years behind, but it offers unique advantages [9].
Reflected wave power flow density at the parallel probe plane A-A (which is [lambda]/2 above the ground) and transmitted wave power flow density at the parallel probe plane B-B (which is [lambda]/2 below the ground) are simulated; results at typical frequencies are shown in Figure 5.
International Resource News-December 7, 2015--Eco Wave Power receives European Union grant for wave energy Project in Gibraltar
Sixteen jobs are to go after administrators failed to find a buyer for wave power firm Pelamis.
The project, which is led through Swansea University's College of Engineering, is helping to promote the waters off Pembrokeshire for electricity generation from wave power. This region has recently been highlighted as an area of excellence for wave power via the creation of the Crown Estate Wave Demonstration Zone.
1 September 2014 - Finnish energy company Fortum Oyj (HEL:FUM1V) said today it had acquired a 13.6% interest in local wave power technology developer Wello Oy without elaborating on financial terms.
IF any of our last three energy ministers (Miliband, Huhne or Davey) had any understanding of the fundamental laws of physics, they could have saved this country PSbillions, by specifying to the energy suppliers that no generator could be connected to our national grid unless the means of driving it had reserves of torque that could be controlled, enable its generator's power output to vary between zero and its maximum rated power, within seconds; which, I'm afraid, would exclude the unstable and uncontrollable turbine torque created from wind or wave power, both of which are completely incompatible with the basic requirements of a synchronous three-phase grid network.
Aquamarine Power CEO, Martin McAdam, said: "With hundreds of megawatts of wave power in Scotland's islands there is genuine potential for the UK to capture the entire supply chain."