Aquamarine Power has been selected to join an elite group of leading UK cleantech companies on a mission to Silicon Valley in the USA – giving the company the opportunity to showcase its innovative Oyster wave energy technology to some of the US’s key cleantech industry leaders.
Aquamarine Power was one of 20 companies selected from over 150 applicants to the Clean and Cool Mission 2010 to San Francisco. The judging panel, which included senior executives from BP Alternative Energy, Technology Strategy Board and UK Trade & Investment, selected Aquamarine Power for its innovative clean technology and its market potential.
The Clean and Cool Mission, which takes place between 20 and 26 February, will give Aquamarine Power the opportunity to accelerate its international business growth through meeting peers from around the world, potential investors and business partners and the international media. The company will also have the chance to engage with experts on the financial and public policy agendas relevant to clean technology businesses operating in the US.
The mission will coincide with the annual Cleantech Forum in San Francisco, which will bring together over 1,000 key cleantech industry leaders.
Martin McAdam, Chief Executive Officer of Aquamarine Power, said:
“The Clean and Cool Mission is an important initiative that will help open doors for pioneering UK companies who are driving innovation in the emerging cleantech sector.
“The Clean & Cool Mission is a fantastic opportunity for Aquamarine Power to showcase our world-leading Oyster wave energy technology in the US, as well as exchange knowledge, expertise and contacts with our American counterparts.
“At Aquamarine Power, we’ve gone from a technology concept to a successful business employing over 45 exceptionally talented people. We’re now looking forward to demonstrating our potential for commercial success on a global scale.”
Iain Gray, Chief Executive of the Technology Strategy Board said:
“The real story here is about these very successful UK business people who have embarked on innovative ventures in a new but growing sector.
“They are pioneers and we are working with them because we want to see them find their place in what looks set to become a successful international market.”
Aquamarine is the owner and developer of the Oyster wave energy converter. The first full-scale 315kW Oyster was officially launched by Scotland’s First Minister Alex Salmond MP, MSP at the European Marine Energy Centre (EMEC) in Orkney in November last year, when it began producing power to the National Grid for the first time.
Aquamarine is now developing the next-generation 2.5MW Oyster 2 device which will consist of three linked wave energy devices powering a single onshore hydro-electric generator. A commercial farm of 20 Oyster devices will provide enough energy to power 9,000 three bedroom family homes and offset carbon emissions of up to 20,000 tonnes. Aquamarine Power plans to deploy its first commercial Oyster devices by 2013.