Top news, Oct 26 – Nov 1, 2015

Tidal Energy Today has compiled the top news from tidal and wave energy industry from October 26 – November 1, 2015.

Aquamarine Power goes into administration

The Edinburgh-based wave energy developer has called in the administrators to manage the business and seek a sale or investment via the administration process. Accountancy and business advisory firm BDO LLP has appointed business restructuring partners James Stephen and Graham Newton as joint administrators that will take over the running of Aquamarine Power.

Tritech supplies OpenHydro with Gemini sonars

OpenHydro has purchased a number of Tritech’s Gemini imaging sonars. OpenHydro will use Gemini imaging sonars to monitor the installation and recovery of tidal turbines and subsea base units. The company also purchased an additional Gemini sonar, which will be permanently installed on a tidal turbine to monitor the environment.

Minesto secures €15 million

Minesto has secured Skr 145 million (€15.5 million) and attracted 2500 new shareholders following the issue of new shares. The company has ensured a fully funded business plan for the development of its Deep Green wave energy technology. The first day of trading at NASDAQ is planned for November 9, 2015.

Australian island to get renewable energy microgrid

Carnegie Wave Energy has signed a memorandum of understanding with Australian government’s power utility Western Power to deliver a renewable energy island microgrid project for Garden Island, Perth. The GIMG project will consist of the CETO 6 Project currently in progress and the existing reverse osmosis desalination plant currently operating on Garden Island but will add an additional 2 MW of solar photovoltaic (PV) power generation and sufficient energy storage to allow interaction with the electricity grid.

Bombora Wave bags government grant

Bombora Wave Power has been granted Au$130,861 (approximately $95,000) for the advancement of their wave energy technology. The funding is expected to help Bombora Wave Power demonstrate and commercialise its wave energy converter system. The grants were awarded under the Australian Government’s Entrepreneurs’ Programme designed to help companies commercialize their products on the global market.

Tidal Energy Today