OCEAN Power Delivery, the Edinburgh-based wave-power technology firm, today said it had raised more than £13 million in fresh investment to fund its expansion plans.
The city firm is responsible for Pelamis, a semi-submersible wave-energy generator that is at the heart of the world's first commercial wave farm off Portugal.
Managing director Richard Yemm said: "This investment builds on OPD's significant commercial and technical achievements to date, and confirms and consolidates both the company's market-leading position and the strong international interest in the wave-energy sector."
The latest round of funding was provided by a consortium led by SAM Private Equity and includes The Carbon Trust, 3i, GE and Edinburgh-based Sigma Technology Group.
Evening News