Aquamarine has obtained funding from corporate and governmental sources as it looks to develop its marine energy technology.
UK-based wave energy company Aquamarine Power secured £7m ($10.8m) on 27th September from investors including SSE Ventures, the corporate venturing division of energy firm Scottish and Southern Energy, and power and automation corporation ABB.
SSE and ABB each contributed £3m, with the remaining £1m coming from Scottish Enterprise, which acts as an enterprise agency for the regional Scottish government. Aquamarine raised £11m, in November 2010, with ABB contributing £8m and SSE £3m.
Derrick Allan, head of ventures at SSE, said:…
