Wavepower, a private investment company concerned with wave energy sector, is looking to invest in wave power technologies or companies, as well as expanding their team.
Wavepower, based in Glastonbury, plans to fund the technology developers they invest in, from their current stage all the way to commercialisation.
They are currently recruiting in order to build the team that would offer technical and commercial support along with the financial investment.
This represents a good signal for the staff made redundant by Pelamis Wave Power , which went into administration, and Aquamarine Power , which significantly scaled down its business, leaving only core operational and management team to run it.
Wave energy sector has been shaken with the concerns raised over viability of the technology and industry in general, but Wavepower believes that “the wave energy sector is nearing a point of maturity, whereby technologies can succeed given the appropriate resources and support.”
Joao Cruz , Wavepower’s CTO, said: “ Our approach allows us to step back and consider technical and non-technical items that affect the WEC design. We aim to derive methodologies that will assist our partners and the entire industry to developer viable, reliable machines.”
David Rubie-Todd , co-founder of Wavepower, stated that the company is using their own money to invest in the industry, adding that “we are building a technical team to help develop the technologies of the companies we invest in or acquire. This should allow the money to be used wisely.”
[mappress mapid=”153″]
Image: Pelamis Wave Power